Proof! Oil Prices Spike Exacerbated By Wall Street Speculation, Federal Reserve Study Finds !

4 posts / 0 new

Hey Check this out!

http://www.huffingtonpost.com/2012/03/20/wall-street-speculation-oil-price_n_1367896.html?ref=email_share

HumboldtDan's picture
HumboldtDan
Joined:
Jan. 26, 2012 11:47 am

Comments

What really pisses me off... and makes me wonder about Obama's true agenda, is that he'll ignore massive Wall Street speculation in the oil markets, and just conflate their distortions of those markets with the normal market jitters about Iran etc.

Speculation is NOT demand.

Pierpont's picture
Pierpont
Joined:
Feb. 29, 2012 1:19 pm

Normal
0

Thom said it the other day on the air. He said the Commodity Futures Modernization Act had to be repealed to stop the speculation in the oil market. Even Thom's Friday guest Senator Sanders has stated outrage about speculation in the oil market. Everyone agrees that the Commodity Futures Modernization Act allows this kind of speculation that drives up the price of gasoline. I have often wondered why Thom has NOT asked Senator Sanders why he voted in favor of this act when he was Congressman Sanders of Vermont in 2000.

robert351
Joined:
Feb. 18, 2012 9:39 pm

We could test drive a 1% Sales Tax on Futures Trading.

Trading is buying and selling. So impose a very modest 1% Sales Tax on them.

Would reduce deficit and curb reckless, shady, microsecond transactions.

Rodger97321's picture
Rodger97321
Joined:
Jul. 31, 2007 3:01 pm

Currently Chatting

The other way we're subsidizing Walmart...

Most of us know how taxpayers subsidize Walmart's low wages with billions of dollars in Medicaid, food stamps, and other financial assistance for workers. But, did you know that we're also subsidizing the retail giant by paying the cost of their environmental destruction.

Powered by Pressflow, an open source content management system