Thanks Fed for the $124.00 oil

[ByLoSellHi]

Quote from nkhoi:

You have asked the question “Are Institutional Investors contributing to food and energy
price inflation?”
And my unequivocal answer is “YES.”
...
In fact, Index Speculators have now stockpiled, via the futures market, the equivalent of
1.1 billion barrels of petroleum, effectively adding eight times as much oil to their own
stockpile as the United States has added to the Strategic Petroleum Reserve over the
last five years
...
the current Wheat futures stockpile of Index Speculators is enough
to supply every American citizen with all the bread, pasta and baked goods they can eat
for the next two years!
-Michael W. Masters, May 20, 2008
wonder when these 'bubbles' will bust?

I'm amazed it's been allowed to go on this long.

Rice, wheat, copper...bad enough.

But oil? The very security of the United States depends on its price, and if speculative buying, by taking supply off the market to artificially suppress inventories in order to bid up the price has been allowed to occur on such a massive level for so long, why?

It's not an overstatement to say that a special prosecutor should be appointed, along with an investigative panel of the U.S. Senate, with the chief mission to find out exactly what's going on, by whom, immediately.

It's a matter of economic and national security.