Why I know things I am not sure, but I knew as soon as prices started their relentless rise that it was manipulation of the markets.

Usually it takes 2-3 years before it starts to seep into the upper echelons of the public conciousness as this video indicates is now happening.

So I give it another 1-2yrs. before it suddenly dawns on the public they've been had, and screwed over for one reason alone so extremely wealthy people bored and out of fun things to do with billions decided to start "gambling" on oil prices.

Of course unlike real gambling where there are long odds, they fixed the odds by making sure before they started playing the finance laws made previously illegal shady dealings perfectly legal.

The gamblers are proxies known by the more common name of Hedge Funds, made up of mostly American and Israeli plus a late coming Russians who weren't going to be left out of the game.

Of course it could only be fun for so long, as long as they could fool themselves that they were playing a prime role in redistributing wealth in the marketplace so it could be better spent in further growing the world economy in future tech. rather than preserving the status quo that coincidentally keeps poverty at bay for billions.

The fact that what it really did was put that money in their hands to spend as they please 1st is besides the point.

They did it for all humanity, to force us to switch to alternative fuels.

They did it to force income redistribution from wealthy nations to poor ones (ok Petrodollar nations, not poor ones).

Ask Hedge Fund market gamblers what they are and you'll hear something like1/2 Robin Hood and 1/2Environmentalist.

Yes far from the common man's presumption that they know themselves as the thieves they are, many see themselves as benevolent protectors of our species, using the powers of the marketplace to force changes forestalled by Government controls that prevent the billions of world poor from feeling the pain that would force them to change to more economic and environmentally sound energy use practices.

Thank goodness for those saintly men.

Posted by: Jonathanseer | August 21, 2008 2:57 PM