Unholy Oil Is Soaring
© Helena Lind · Filed Under Features · Add your comment
Arjun N. Murti of (currently) Goldman Sachs told those who cared to
listen about three weeks ago that he can see the oil price going towards 200US$
within the coming two years.
Said it and kick started a purely speculative craze on the markets who fell for it like ninepins. Even long term contracts went like hot cakes.
This is speculation at it’s worst and more than a fatal self fulfilling prophecy.
Surely completely unsolicited was Mr Murti’s Goldmann Sachs colleague Jeffrey
Currie to assure us:
“This industry is experiencing severe long-term supply constraints, and the focus on speculators is missing
the big picture,” said he, bullish to the T.
So it is all down to high demand
and not enough output?
Normally in trade there is a different rule: the
higher the demand or multiplicator the higher the discount…
Them pigs are
flying low today…
The bank always wins, big companies and governments too will extract higher
prices and more fuel taxes and so called environment levies out of their
customers and electors as if they were limitless magical sponges.
But they
aren’t.
I am all for free flow of economics and markets but how can such wind up
merchants be let to get away with what they are doing?
A terrible chain
reaction is already set into motion:
high oil – rising prices – less food –
more poverty.
As if there is not too much speculation already in those commodities areas.
We in the Western World may be able to just about cope with our sweet
smelling Basmati rice to be more expensive but how about those in the 3rd world
who cannot?
I had a go at the Myanmar military junta of late for their
disgraceful behaviour in the wake of cyclone Nargis, calling them degenerate
criminals.
Well, I simply have to extend the membership for the International
Degenerate Criminals Club (IDCC) to all them speculators.
Spiking oil prices will not only affect us but generations to come.
And
there is not let-up priced in for the environment.
I can only hope that the bullshit will hit the fan soon and that we, the customers will stand up and say NO! That spin has to stop here and now!
This article published by MIZPAH Magazine - ©2010 www.mizpah.tv
© Helena Lind
These speculators are risking the future of our kids but not their own as they swim in money. Good article , you call a spade a spade. Thanx
ha, unholy oil. also like IDCC idea, author has outstanding eye eye for truth and her sense of humor is sharp as a needle
)))
International Degenerate Criminals Club (IDCC) , brilliant!
Does the IDCC have a website yet?
that’ll be a hit
You are so right but how can we say NO! ?