Wednesday, Jun 25, 2008
massive losses in the mortgage-backed securities boondoggle
information clearing house: Gas-Pump Gouging; Just Don't Blame The Saudis
This is not about shortages or scarcity; it's about gaming the system to fatten the bottom line. The whole scam is being executed with excruciating precision by the same carpetbagging scoundrels who engineered the subprime fiasco; the investment bankers. The Wall Street Goliaths are using the futures market to recapitalize their flagging balance sheets after sustaining massive losses in the mortgage-backed securities boondoggle. That's the whole thing in a nutshell. Now they're on to their next swindle; distorting the futures market with humongous leveraged bets on food and oil.
So its not really Big Oil or "greedy Arabs" after all? Nope, it's the cutthroat banksters again.
WHAT HAPPENED IN JIDDAH
Posted by malct @ 12:00 PM (965 views) Add Comment
30 Comments
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4. icarus said...
When it's mainstream established that speculation is behind these prices rises we'll probably hear more of the grotesque message that we should be grateful to the speculators for ramping up prices because higher food prices = more investment in agriculture and higher oil prices = more oil exploration and production.
5. p. doff said...
Not very bright, are they, these carpetbagging Wall Street Investment Bank Goliaths, if their last scam in mortgage backed securities resulted in massive losses and flagging balance sheets. Perhaps their next swindle distorting the futures market in oil and food will be more successful.
6. shipbuilder said...
I like Information Clearing House, but this view of things has been mainstream for a while now - the banks using the bail-out money to claw back some profit in commodities. It's their nature, really. In fact it's the law - they are required to maximise shareholder return - should we be surprised? The question no-one can seem to answer is just how much it is distorting the prices.
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8. shipbuilder said...
As p. doff says - they haven't been doing particularly well so far, for having 'engineered' the whole thing.
9. drewster said...
@malct and others,
This week the price of iron ore rose by 96.5%. There is no futures market for iron ore - big banks can't touch this. The price rise was negotiated directly between Rio Tinto (the biggest producers of iron ore) and the Chinese steelmakers (the biggest consumers). Where's your speculation now? This is pure supply and demand!
For more details read MoneyWeek: Why the commodities boom just won’t slow down
10. sold 2 rent 1 said...
Yes it is the Williams video about oil corruption.
Here are some interesting things I have just discovered about Google Video
If you type "google video" or "googlevideo" or "video.google " into google, nowhere in the results does the website http://video.google.com appear.
Very strange indeed.
If you type "googlevideo.com" into google
you get http://video.google.com
Google aren't making it easy to get to Google Video. Why is that?
The Williams film is:
The Most shared video for the week and month
The Most viewed video for the day, week and month
The Hotest video of the day.
I think we have something here.
11. gardeniadotnet said...
Re: The Willams video.
I have downloaded the video in full, in case it goes AWOL.
Perish the thought! That would be like a conspiracy theory or summat.
D'oh! I think I've just shot myself in the foot again.
G.
12. malct said...
9. drewster said...
Wednesday, June 25, 2008 01:22PM
drewster - some people are saying the speculation suggested is acknowledge in msm
are you saying it doesn't exist
no offense - I just don't understand
thanks for the rio connection
13. sold 2 rent 1 said...
The Williams video was the most viewed in May too, not bad for something that never appeared on Google Trends until around 10th May.
Maybe Google will be forced to remove it from their listings by the powers that be?
We shall see.
14. flintster1994 said...
Seems to have dissapeared!
15. Flintster1994 said...
Nope. Back again. Loose change was no. 1 for a second then.
16. flintster1994 said...
Nope. Back again. Loose change seemed to be no.1 for a second then.
17. gardeniadotnet said...
I am sure you cognoscenti will be able to glean some important information from this link:
http://www.moneyandmarkets.com/Issues.aspx?Peak-Oil-Truths-and-Consequences-1908
18. drewster said...
malct at 1:39pm,
I'm saying that the rise in commodity prices (including oil & food) is caused by market supply and demand, not by speculation. The example of iron ore rising 96.5% shows that prices are rising dramatically even in the absence of a futures market.
The developing world is consuming more and more resources all the time. Think of all those Chinese who traded up from bicycles to cars - did you know that last year Audi sold more cars in China than in America? That's the main reason why oil prices are going through the roof - not because a few gamblers on Wall Street are rolling dice and swapping paper.
19. malct said...
drewster - thinking about it how come there's no futures for iron ore?
who owns Rio Tinto
20. This comment has been removed as it was found to be in breach of our Blog Policies.
21. James said...
"No wonder Google Video is not easy to get to."
FFS. It's only in a dropdown on google.com (which I imagine is one of the, if not the most, popular web page on the planet). Very well hidden indeed.
22. drewster said...
@malct,
I don't know why there's no futures market in iron ore - presumably there are relatively few buyers and sellers so they prefer to just negotiate annual contracts.
As for who owns Rio Tinto, well I own a few shares in it :-)
You're probably going to tell me that it's owned by the same old-boy-network of rich capitalists, right?
Who owns it doesn't matter. The Chinese could have said no to those prices, but they willingly paid the 96.5% premium. Rio Tinto can't raise prices as high as they want - just as a landlord can't increase rents forever, sooner or later the buyers just say no.
23. malct said...
someone else getting angry, a comment from a recent Telegraph article :- quote
Sell your house add the money to your savings then take the whole lot and buy gold. Max out any credit you can get and buy more gold. Declare yourself bankrupt and give up your job and work in the black market - move into a flat and claim every benefit you can get your hands on. If you do this you will bring down the government and the banking system who have been leaching off you for far too long. Anarchy in the UK, its coming sometime quite soon.
24. malct said...
drewster @ Wednesday, June 25, 2008 02:08PM
"As for who owns Rio Tinto, well I own a few shares in it :-)
You're probably going to tell me that it's owned by the same old-boy-network of rich capitalists, right?"
No actually. I remember someone years ago going on about RTZ and gender issues and heavy rock bands.
I've just done a search on RTZ and stuff like Queen and Sweet and Slade etc but got a load of rubbish lol
probably going senile
25. Janice said...
Um, guys?
Have you noticed that it's always the same 5 conspiracy simpletons commenting on these threads?
And whenever anybody else posts, it's to ask you to leave and post in more lizard orientated websites.
26. Pelethar said...
Janice, you've clearly been brainwashed by the NWO and their media puppets. Join these free-thinking radicals, buy a 500 gallon barrel of fresh water and £1000 worth of baked beans and hole up in your attic. The fiat money collapse is right around the corner, according to the mayan calendar. Or something. Nurse!
27. pelethar said...
Hahahahahahahaha
28. malct said...
Janice ! - Janice ! - Hahahahahahahaha
looking forward to your first article mush
29. pelethar said...
Yeah Janice, get in there and post something, anything. Flood the news blog with articles. Just google "9/11 conspiracy" and you'll find millions of articles all the hpc regulars will be choking to read. They'll thank you for it, and you'll get a warm, fuzzy feeling from knowing you're doing the right thing. AND Malct and his buddies will accept you as one of their own.
30. gardeniadotnet said...
Take no notice Janice, love.
Take Pelethar's advice and "hole up" in your attic?
What???! What did I say now???!
G.