oil price manipulation

Discussion in 'General Discussion' started by Tango3, Nov 13, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    over50 MU's ( "madoff units")worth of global oil price Fraud is accredited to an overseas oil consortium operating way outside the reaches of any us law by bigoil speculators , selling contracts back and forth to each other, to manipulate oil markets here.
    The Global Oil Scam: 50 Times Bigger than Madoff 187 comments

    by: Philip Davis November 11, 2009 | about: BP / DB / GS / ICE / JPM / MS / RDS.A / SCGLY.PK / TOT

    <!-- # in case we have no author intro (fresh new author) we show a general profile template --> [​IMG] Philip Davis Follow

    $2.5 Trillion - That’s the size of the global oil scam.
    It’s a number so large that, to put it in perspective, we will now begin measuring the damage done to the global economy in "Madoff Units" ($50Bn rip-offs). That’s right - $2.5Tn is 50 TIMES the amount of money that Bernie Madoff scammed from investors in his lifetime, yet it is also LESS than the MONTHLY EXCESS price the global population is being manipulated into paying for a barrel of oil.

    more at:

    http://seekingalpha.com/article/172797-the-global-oil-scam-50-times-bigger-than-madoff?source=email b
  2. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    Something I have been saying all along
  3. Tango3

    Tango3 Aimless wanderer

    I was shocked! shocked I say to find corruption and manipulation on this scale.
  4. Seawolf1090

    Seawolf1090 Retired Curmudgeonly IT Monkey Founding Member

    I'm not. Signs of the times. Once you get past the first TRILLION, it's just computer bytes......... Run them up, run them down, all in a days work for today's Global Players. Madoff, obama, same thing, different suit. maddd
  5. Minuteman

    Minuteman Chaplain Moderator Founding Member

    I have always said that the stock brokers on wall street set the price of oil not the CEOs' in Houston.

    With that said I agree with this comment IF it is an investigation into trading practices.

    "Maybe when they are charging you $80 a gallon for water and ten cents a breath you’ll want to do something about it. I think I’ll start right now and you can too! Here are the Email addresses and Fax numbers for all of your Senators, Congresspeople and Governors. Send this article to them and let them know you’d like to see an investigation. Take a few minutes of your time to save a few bucks on your next gallon of water!"

    There have been 11 Congressional hearings into alleged "big oil" manipulation of oil prices. The result? Not one single piece of evidence has ever been found to support those allegations.

    Mr. Davis is a serial entrepreneur, having founded software company Accu-Title, a real estate title insurance software solution. He was also the founder of Personality Plus, a precursor to eHarmony.com. Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing -- which is filled with colorful commentary (Phil rarely holds actual stocks).

    Not exactly an expert on the oil industry! While I agree that there are probably a lot of behind the scenes shady dealings going on in wall street
    trading houses and in global trading markets, this guy has no creds whatsoever to comment on global supplies or supply and demand effects on the market price of crude.
  6. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    [fnny] hehe, I am with you partner. Nothing new...move along!
survivalmonkey SSL seal        survivalmonkey.com warrant canary