Meathead-in-Chief declares war on oil speculators

Quote from Tsing Tao:

http://www.zerohedge.com/article/obama-holder-declare-war-oil-traders-speculators

( RTR ) 04/21 02:30PM OBAMA SAYS HAS ASKED ATTORNEY GENERAL TO CREATE TEAM TO "ROOT OUT" FRAUD, MANIPULATION IN OIL MARKETS THAT COULD HIT GAS PRICES

( RTR ) 04/21 02:31PM OBAMA, IN PREPARED REMARKS, SAYS TEAM'S FOCUS WILL INCLUDE OIL MARKET TRADERS AND SPECULATORS

( RTR ) 04/21 02:31PM OBAMA SAYS WILL MAKE SURE THAT NO ONE
IN OIL MARKET IS TAKING ADVANTAGE OF THE AMERICAN PEOPLE FOR THEIR OWN SHORT-TERM GAIN

now, i'm all for making the energy market a bit less speculative, but obama is either trying to deflect blame, or is too stupid to realize it is his own federal reserve chairman (the one who "hope and change" had reappointed) at the helm of the latest rise.

what a meathead.
More...


All talk. Matters are out of his hands, unless he can impose a 55 mph speed limit and raise the gas tax. And even that may not work. This Pres. is a piece of work. What has he done anyway, besides preside over USA decline.
 
Quote from Tsing Tao:

now, i'm all for making the energy market a bit less speculative, but obama . . . is too stupid to realize it is his own federal reserve chairman (the one who "hope and change" had reappointed) at the helm of the latest rise.

what a meathead.
More...

You got it. A fundemental principle of these losers is that serious inequality of outcome means somebody cheated. Therefore, if one stops the cheating (aka fraud and manipulation) the prices will come back down. It's an easy shortcut that doesn't require much thought and is perfect for Dear Leader.
 
Quote from Kassz007:

Exactly. If "speculation" is driving up the price of oil, and that shoe falls, then I can't imagine any scenario where "speculation" won't be banned on every single other commodity that increases in price.
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agreed. Sadly it's a common misconception. I'm going to say that the majority of Americans believe that speculators are to blame for high prices. I see that kind of thinking all over the internet.

There is some truth to it, but you can't blame speculators. They make it sound as if all the speculators are making a killing by manipulating prices. It's bs. The more speculators the more efficient the process of price discovery.
 
The majority of Americans will react with 'way to go Obama! It's about time!'

He's not a 'meathead' though. He just got this one wrong
 
Politicians create inflation through massive deficits and then blame it on speculators, all the while getting paid off by lobbyists who insist the government keep spending on their pet programs.

Good gig if you can get it.
 
“The only proper purpose of a government is to protect man's rights, which means: to protect him from physical violence... The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, to settle disputes by rational rules, according to objective law.”
— John Galt
Atlas Shrugged (Part 3, Chapter 7, Page 1,062)
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