What is Digg?305 Comments
- inactive, on 06/13/2008, -19/+142So what did Mr. Bernanke decide to do with our future at the recent Bilderberg meeting? I hope he and the rest of world class market manipulators figured out another way to make the rich richer.
Why doesn't Obama talk about the topics of conversation there? - inactive, on 06/13/2008, -9/+93From the year 2000 to 2007 the Fed increased the money supply by 73%! But this would have no effect on prices according to the mainstream media. Pay no attention to the man behind the curtain.
- mediaspree, on 06/14/2008, -12/+68Ron Paul is pretty vocal on this topic.
- lazerus9, on 06/13/2008, -23/+76That must be what Obama means when he espouses change. Every time he is confronted by people asking questions such as the ones that you posit, he (changes) the subject!
- pr0t0, on 06/14/2008, -5/+43Wrong presidential candidate. I know Digg has more than its share of Ron Paul articles and comments, but that does not make the following less true: Ron Paul was the only candidate who understood that the Fed was weakening the dollar thus causing the many problems we are facing today, and the many more we will face in the future.
If your priorities were for the price of oil to go down and the economy to strengthen, and you did not vote for RP, you probably backed the wrong horse.
Of course no candidate is perfect and I did not agree with everything RP stood for. But I did believe he was the best candidate to deal with the problems facing us right now. But that's all oil under the bridge. The best we can probably hope for now is a cabinet position or some other influential position that will have the future president's ear. - dukeeeey, on 06/13/2008, -12/+50Sure the dollar has had some impact for Americans but it's not the driving force.
In case you yanks missed it, most of europe is suffering hard with the price of fuel.
http://news.bbc.co.uk/1/hi/world/europe/7426971.st ...
And the price of oil plotted in other currencies.
http://europe.theoildrum.com/node/3106
The reason the price of oil is high is because production has been flat for nearly 4 years, and demand has become a run away train. I'm tired of reading all the other ***** reasons given. - Xihix, on 06/14/2008, -4/+31Why do I feel like I've heard a certain politician talk about this before... In fact, warn us that it was happening...
- BlacklabelSAR, on 06/13/2008, -4/+31The Fed is stealing the value of our money. Inflation is embezzlement of the value our money.
- RogerStrong, on 06/14/2008, -0/+26Of course not. Automobile/aeroplane use in India and China (that's half the world's population) is skyrocketing, but the amount of oil produced has stayed the same.
Demand went way up, while supply stayed the same. And since the oil producers have discovered that the west's oil consumption doesn't go down when prices go up, why lower profits by producing more? - nova912, on 06/14/2008, -4/+27In the last 7 years the price of oil has gone up 400%, while the dollar has only depreciated 30% --, it's oil futures and market speculation.
- Berkana, on 06/14/2008, -3/+26The Fed doesn't just print out money, it LENDS it out. All of the money put into circulation was borrowed by the government at interest via interest earning government bonds, and has to be paid back with more than was borrowed.
That, folks, is the root cause of the "business cycle," and why our economy is so utterly dependent on interest rates. Every last dollar we have in circulation was borrowed into circulation (imagine that as a push on a pendulum), and its repayment as debt with more money than was borrowed (that's the pendulum swinging back further than the equilibrium point) throws our economy into recession, necessitating another round of borrowing stimulated by lowered interest rates. Get rid of the fed, give us sound money that doesn't have to be continually borrowed at interest just to be in circulation, and the business cycle as we know it stops, with the only "cycles" being smaller fluctuations rather than massive market booms and busts with their attending rounds of inflation destroying the value of the money we've saved.
For a good primer on the details, see this:
http://digg.com/business_finance/Our_Debt_based_Mo ... - kemp34, on 06/13/2008, -5/+26CHANGE!!! (the subject...)
- bawitback, on 06/14/2008, -1/+18I agree
- lazerus9, on 06/13/2008, -7/+23Your parents should have invested in your education.
- kemp34, on 06/13/2008, -5/+20Usual JCM stupidity.
- CatoTheCensor, on 06/14/2008, -1/+16The rampant speculation exists because there are too many dollars and not enough safe investments. People and countries are investing their dollar reserves in oil because they know it has value and they doubt the value of the dollar
- inactive, on 06/13/2008, -9/+23http://www.nowandfutures.com/images/m3b.png
Do you want to look at this graph and tell me that "there has not been a huge increase in the money supply"
What we have is disinformation that convinces tools that everything is OK when it is actually an inflationary bomb.
Why did the Fed quit tracking M3? Look at the graph. They have inflated the money supply by 17% over the last year at the same time that the total value of US assets has declined drastically.
Think for yourself sqiffy, they are lying to you, and you sound silly when you repeat their lies. - mediaspree, on 06/14/2008, -1/+14Don't forget, AND offer the solution
- WTF69, on 06/14/2008, -2/+15 “Day by day, every dollar you have is being devalued. You pay an inflation tax without even realizing it ... ”
anyone know who said this? cause i do - inactive, on 06/13/2008, -6/+18Go back to watching the mainstream media. Everything is just fine. Doubling the money supply in 8 years would have no effect on prices or the economy.
- inactive, on 06/13/2008, -2/+14Distraction? How so? The FRN in your wallet isn't worth the paper it's written on. If you have an issue, you should have it with the fact than an unConstitutional entity controls the money supply of your country. This concept may be a bit tough for you to understand but can certainly be done so over time.
The millions dying of starvation have the same central banks to thank. I'm guessing you aren't a chess player. We are witnessing a global chess game. Sometimes you sacrifice a bishop to capture a rook. Pawns are even less valuable and are sacrificed as needed. Guess what you, I and your dying millions are? Yep, pawns. Wake up and do something about it rather than just bitching. - inactive, on 06/14/2008, -10/+21Why Oil Price Is High??? Because we americans have become piss boys to "the man". We haven't got the gumption to get off our ass from out in fronnt of a computer, let alone walk or ride a bike or a bus. Nope, we whine about gas as we sit idling our SUV's in the Taco Bell drive thru with 20 other gutless bastids, cause were too lazy to park shut the son of a bitch off and walk inside.
Gas crisis my ass!! The frikkiin streets are clogged with big fat ass people sitting alone in some gas guzzling V-8 that runs like crap as they are too "busy" to get a tuneup, yet they run it thru a drive thru car wash every freakin week.
STOP WHINING!!!! Or at least take some action to lower demand for chrissakes. Writing some ***** on Digg, or posting freakin links to other blogspam ain't gonna do a thing about the price at the pump. Damn, the people in this country have really become pissbabies. - inactive, on 06/13/2008, -3/+14The increase in the money supply at the same time that there is uncertainty in financial markets has driven too many dollars to buy commodities. Inflated dollars look for investments that hold their value > OIl
It is definitely NOT price fixing - spunkmyer, on 06/14/2008, -5/+15When bankers and oil men can cause the price to spike almost $10 in one day then I don't think it's the fed causing this problem. Speculation is out of control. All the greedy banks don't want to sell their stock in the hope it will go higher.
- pwnerofnoobs, on 06/14/2008, -0/+10Two words: No Child Left Behind
- inactive, on 06/14/2008, -3/+13"He served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the "Father of Reaganomics". He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He is a graduate of the Georgia Institute of Technology and he holds a Ph.D. from the University of Virginia. He was a post-graduate at the University of California, Berkeley, and Oxford University where he was a member of Merton College."
http://en.wikipedia.org/wiki/Paul_Craig_Roberts
No he probably doesn't know what he is talking about. You are probably much better informed. - americangoy, on 06/14/2008, -13/+22"he two biggest factors in oil ’s high price are the weakness in the U.S. dollar’s exchange value and the liquidity that the Federal Reserve is pumping out."
Wrongo :-)
It's the rampant speculation!
http://americangoy.blogspot.com/2008/05/so-why-are ...
DUGG anyway :-) - LordSkywalker, on 06/14/2008, -1/+10So, basically what Ron Paul's been saying all along? I guess it's just too bad ***** didn't hit the fan a year or two ago. Maybe people in a crisis like we're in now, with a bleak outlook towards the future, would be desperate for real answers would actually listen.
- borez, on 06/14/2008, -2/+11In other words, it's a complete mess.
- inactive, on 06/14/2008, -1/+10Ron Paul does come to mind when I read about the Fed printing too much money. But it's unfortunate that only he comes to mind, this issue is central to our national financial security, more politicians should at least acknowledge this poor practice.
- BlacklabelSAR, on 06/13/2008, -5/+13http://en.wikipedia.org/wiki/Denial
"Denial is a defense mechanism' postulated by Sigmund Freud, in which a person is faced with a fact that is too uncomfortable to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence. [1] The subject may deny the reality of the unpleasant fact altogether (simple denial), admit the fact but deny its seriousness (minimisation) or admit both the fact and seriousness but deny responsibility (transference)." - zephyr42, on 06/14/2008, -3/+11Because that would mean he'd have to talk about the real change washington needs. not the ***** he's spewing now.
That and the american people have no ***** clue what the fed actually does. (maybe some know "they do them intrest rates") - greenm1981, on 06/14/2008, -0/+8The reason why it takes such a high price to dampen demand is because the demand for oil is inelastic. In the short run, economies that depend on oil can't utilize substitutes for oil. It works the same way cigarette consumption does. When there is a hike in the price of cigarettes, via taxes, there is not a proportional decrease in demand. This is due to the low price elasticity of demand for both oil and cigarettes.
- junkwheel, on 06/14/2008, -2/+9It is the Fed who says "print X amount of dollars".
And that is all that ultimately matters.
Which building the printers are in and who turns them on has no bearing on the decision making when it comes to how much to print.
Which is why it's common to say the Fed prints it. - inactive, on 06/13/2008, -0/+7Why wait until now to raise prices? If oil companies have unlimited power to charge as much as they want, why didn't they raise prices this high decades ago.
- footlong24seven, on 06/14/2008, -7/+14Abolish the Fed! If the US government can issue a bond, then it can issue a bill! Debt-free money will alleviate most of our problems. Usury is an abominable sin, thankfully the muslims got it right and banned usury under Quranic law. Usury was also illegal, punishable by death, in the middle ages. The only way usury is able to flourish in this modern world is because the Jewish money changers run the media and elect our leaders who make these abominations possible (AIPAC, anyone?).
- XanderDee, on 06/14/2008, -0/+7Speculation is the result of free money. If I said here is $100,000 go invest it for a year then pay it back to me plus 2% where would you go?
This is what the Fed is doing.
If the Fed raised rates to 12% (real inflation) oil prices would drop like a rock as the a safe investment is now bonds. - dukeeeey, on 06/14/2008, -7/+14in 1999 the price oil dipped below $10/barrel
now it's nearly $140
that the dollar ?
lol no ... - casek, on 06/14/2008, -0/+7evereyone who encounters jcm and his schilling should report him.
i'm tired of the schills on here burying truth. - sgiffy, on 06/13/2008, -21/+28The Fed has been engaging in market transactions to dampen the effect of the loans it has made to banks. Essentially there has not been a huge increase in the money supply.
What you have going on instead is messed up credit markets. This sends investors looking for a place to put money. Bonds are saturated due to the huge amount of funds held by nations like China and the UAE, that equals low returns. The stock market is not doing so great, and is pretty high risk regarldess, so that leaves commodities.
Fix the credit problems, which the Fed has been doing a decent job of, and you'll things like oil come down in price. - inactive, on 06/14/2008, -0/+7"So what did Mr. Bernanke decide to do with our future at the recent Bilderberg meeting?"
That breaking the backs of US population was very successful and they should continue with more caution... they don't want to see massive street protests or some armed public unrest.
We are nothing more than slaves to them. If you feel free, just check how many months in a year you are working to pay taxes. Try 4 months out of 12 just to pay taxes... and taxes are nothing more than debt paid by our government to privately owned bank called "Feds"...
And we all thought that slavery in US was abolished... yea right! - gunthervontrapp, on 06/14/2008, -4/+10Read Ron Paul's book you fools! The enemy is the state. The enemy is the political class. The enemy is Obama/McCain.
- WTF69, on 06/14/2008, -3/+9Hopefully Obama will solve this, he does know a lot about run away inflation of the dollar. Wait wait no he doesn't and Macain knows even less.
- inactive, on 06/14/2008, -5/+11change is what's left in in your pocket after he gets elected
- Paulish, on 06/14/2008, -3/+9What has Government done to our Money?(full text available at mises.org/rothbard/rothmoney.pdf) has opened my eyes to what is going on. It taught me what money is. I never really thought about what money actual was until I read the book. I just thought it was some abstract measuring tool. Now I realize money is a commodity, such as gold, that people value and therefore trade. There is nothing magical about it. Government doesn't manage every other commodity, so why does it mess with money? Well, who would print money if they could whenever they wanted I suppose.
People complain about all sorts of prices increasing and life becoming harder, they often blame it on corporations. The reality is that the root of our economic troubles is the government. - inactive, on 06/14/2008, -3/+9"the Federal Reserve is pouring out liquidity that is financing speculation in oil futures contracts"
Half right (futures speculation) half wrong (the Federal Reserve) but regardless the amount of money flowing out of all other sectors of the world economy into the into the energy speculators pockets may well tip us all into a world wide depression.
Thank ICE, the UNREGULATED energy futures market, and it's greedy traders manipulating oil futures prices for the high oil/gas prices we're now paying.
Thank former Speaker of the House Tom DeLay and former Senator Phil Gramm and their Wives for the CFMA (Commodity Futures Modernization Act of 2000) which moved energy-derivative contracts and related swaps from any government oversight.
We're being ENRONed again except this time the whole world is getting scammed, not just California. The PBS Frontline program about ENRON indicated California residents were cheated out of about $14 Billion Dollars in higher electricity bills because of deregulation and ENRON energy traders manipulation of the California electrical energy market.
Now, instead of ENRON energy traders doing the manipulation it is an unregulated organization called ICE (Intercontinental Exchange).
"When Enron failed and took its private, unregulated energy exchange to the grave, another rose to take its place. The Intercontinental Exchange (ICE) was the brainchild of Morgan Stanley, Goldman Sachs, British Petroleum, Deutsche Bank, Dean Witter, Royal Dutch Shell, SG Investment Bank and Totalfina. In 2001 ICE purchased the International Petroleum Exchange in London; renamed ICE Futures, it now operates as an "exempt commercial market" under section 2(H)(3) of the Commodity Exchange Act. As the Senate hearings pointed out in the summer of 2006, "Both markets operate outside of any CFTC oversight."
from: ICE, ICE, Baby, Conclusion (May 22, 2008) http://www.star-telegram.com/ed_wallace/story/6590 ...
"Many individuals who are investing in oil and natural gas futures are going out in the media and trying to convince the American public that either we are out of oil or there is a serious supply shortage of crude against worldwide demand."
And:
"the US Senate investigated the rigging of the oil market by speculators in the summer of 2006 – and concluded that there was no supply and demand problem with oil? Did you know that their conclusion was that speculators were responsible for a 70 percent overcharge in the price of oil in the months leading up to the summer of 2006?"
from: ICE, ICE, Baby (May 19, 2008) http://www.star-telegram.com/ed_wallace/story/6519 ...
"Get ready for the next shock to your system. In the past month we have added 11.9 million barrels of oil into our stock reserves, giving us 32.3 million more barrels of oil than we had on hand January 1. On May 5, we found out that for the second time in as many years, Iran was storing its excess crude oil on tankers in the Persian Gulf, because it had run out of storage space in the desert and was awaiting buyers for its heavy crude. That same day Saudi Arabia cut the discount price for its Arabian Heavy crude to $7.45, hoping to entice more buyers for immediate delivery. We didn’t hear that news, either."
from: ICE, ICE, Baby (May 19, 2008) http://www.star-telegram.com/ed_wallace/story/6519 ...
It is now 2 years since the 2006 Senate hearings and lass than a year since House December 2007 hearings identified what is going on and yet nothing has been done about this scam. - lazerus9, on 06/13/2008, -16/+22This is a good read also:http://www.texemarrs.com/contrived_shortages.htm
- grumpyrain, on 06/14/2008, -0/+6Your right. If the $US wasn't doing so poorly, our oil would be well over $AU 2/L by now (about $AU 1.60/L currently).
- jaymzdean, on 06/14/2008, -1/+7Ah...the tin foil defense.
Always love this one.
History is dense with conspiracies. They are part of the record. I won't go into details.
And here we are, living in the Age of Corruption, and you've got these *****.
These morons who stick their heads out of a hay stack screaming "tin foil" anytime corruption is discussed.
WTF is wrong with these amoeba-brained dick-lickers? -
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