TBR News.org – June 9, 2008
“We seem to be involved with more bubbles than a burlesque house,. There was the so-called “dot-com” bubble of the 90’s that was the result of the manipulations of a number of American stock brokers who deliberately inflated the stock prices of electronics companies that had no real assets. Then we had the equally phony and rigged “housing” bubble which, we now can see, was the result of criminal connivance between small mortgage companies and huge international banking houses. The dot-com swindle injured very few personally but the housing collapse has injured, directly or indirectly, millions. No one cares about this and the national economic manipulators have now moved into the oil, water and food markets with a wild rush.
Of course, the next bubble which consists of creeps like the hedge funds managers (pure Ponzi-schemes from the ground up) bankers and investors rushing to get their hands on what they, and many others, see as the greatest bubble of them all, the control of food, water and fuel, both domestically and overseas.
We know that increasingly, the prices of these elements have been steadily and sharply rising throughout the world and this has caused, and is causing, terrible social and economic havoc in poorer countries such as Nicaragua and Guatemala in Central America, and Haiti in the Caribbean and in India and neighboring Balgladesh. And in Africa, there is near-disaster in both Ethiopia and Somalia with severe water and food shortages. African countries such as Liberia , Egypt, the Sudan, Zimbabwe, Mozambique, Kenya and Eritrea . There have been food riots in Haiti and Egypt with threats of civil insurrections in India and throughout Southeast Asia. , to include the Philippines .
The upward-spiraling price of crude oil is not the result of a shortage of oil. It is estimated that the cost of a barrel of oil in the Middle East does not exceed 15 dollars
. The costs of a barrel of oil extracted from the tar sands of Alberta, Canada , is of the order of $30
The price of crude oil is currently in excess of $130+ a barrel. This market price is largely the result of the speculative onslaught, completely controlled by the Anglo-American oil giants, including British Petroleum (BP), ExxonMobil, Chevron-Texaco, and Royal Dutch Shell
All of this horrifying and financially devastating escalation is, without question, a process of deliberate and simultaneous market manipulation by the major Wall Street banks and financial houses, in close cooperation and conjunction with the oil and natural gas dealers
The increasing cost of gasoline pump prices is leading to the collapse of local level economies, increased industrial concentration and a massive centralization of economic power in the hands of a small number of global corporations. In turn, the rigged surges in gasoline has a devastating effect on urban transit system, schools and hospitals, is crippling the American trucking industry, intercontinental shipping, airline transportation, tourism, recreation and most public services.
According to William Engdahl;
"... At least 60% of the 128 per barrel price of crude oil comes from unregulated futures speculation by hedge funds, banks and financial groups using the London ICE Futures and New York NYMEX futures exchanges and uncontrolled inter-bank or Over-The-Counter trading to avoid scrutiny. US margin rules of the government's Commodity Futures Trading Commission allow speculators to buy a crude oil futures contract on the Nymex, by having to pay only 6% of the value of the contract. At today's price of $128 per barrel, that means a futures trader only has to put up about $8 for every barrel. He borrows the other $120. This extreme 'leverage' of 16 to 1 helps drive prices to wildly unrealistic levels and offset bank losses in sub-prime and other disasters at the expense of the overall populationthe price of grain staples has increased by 88% since March 2007. The price of wheat has increased by 181% over a three year period. The price of rice has increased by 50% over the last three months….”
In addition, there is a large and growing movement in the United States to pull away from off-shoring American industry and services.
Although I tend to view allegations of conspiracies with great caution, I have been reading through reams of official reports, market evaluations and intelligence data for my position. I go through this material on a daily, and sometimes more, basis, make notes with references and pass the reports up the line to my superiors. I see a good deal of material which is either too sensitive or too complex for the media.
After ten years of this, I can state with great sincerity that there are indeed business and governmental plots and schemes. We invaded Iraq because Israel wanted us to both establish bases there to assist them in the event of Arab attacks on them and to punish Saddam for daring to lob rockets at them during the first Gulf War. So far, at a bare minimum, over four thousand Americans have died to make Israel more secure. In my opinion, that’s exactly four thousand too many. It is interesting to note that almost all of the hedge fund and private equity people are Jewish and many of them bank in Israel where their money is safer than in Switzerland and, if things get too hot here, they can always go and be absolutely secure from extradition. And then we have the very obvious, but never mentioned, pre-911 stock manipulations by Israeli speculators. At the time, this was well-reported in the reputable segments of the American media but was almost immediately silenced and all mention of it expunged from the media’s various on-line sites.
It can all still be found on the microfilm records of the media units involved but not ever on the internet.
Why is that? I ask the question rhetorically and you answer it in private.
And finally, our very own K street lobbyists are beginning to wonder if Obama will indeed block the huge sums of what is basically bribe money flowing from American business interests through the hands of the K Street lobbyists into the pockets of American legislative and government officials
The American public? That great cash cow? Keep milking it until it runs dry and then go and live in your nice vacation house you bought in Aruba with your stolen money.”
NEW YORK AP June 8.- Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose to $4.005 overnight from $3.988. But consumers in many parts of the country have already been paying well above that price for some time.
Gas is expected to keep climbing, putting greater pressure on consumers and businesses, because the price of oil is soaring in futures markets. Light, sweet crude shot up nearly $11 a barrel Friday and approached $140 for the first time.
Along with higher fuel costs, consumers are also contending with higher prices for food and other goods because of rising transportation costs.
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Last updated 13/06/2008