-Caveat Lector- http://www.mcalvany.com/specialreports/august/returnofinflation2.htm Part II: Are oil and gas price increases the result or cause of a rise in global inflation? Both! OPEC has cut production and raised prices for a number of reasons --one of which is their perception of rising global inflation and another is because they have been pressured to do so by the Clinton Administration. As WorldNetDaily reported on 5/9/2000: "Oil ministers from OPEC nations have quietly told national security advisors on Capitol Hill that the oil production cutbacks - and resulting price increases - are being implemented at the request of the Clinton administration on behalf of Russia, Indonesia, Mexico and Iran. "Russia, Mexico and Indonesia are reported to be directing their increased oil profits toward paying back overdue Western loans. According to one government defense adviser, the windfall profits are part of a large scheme to use the American public to pay off failed and corrupt investment schemes in the three countries. "`The American public is paying off bad loans to bad countries made by bad bankers,' stated the national security adviser. "The largest Middle Eastern oil producers reportedly agreed on the cutback of oil production in order to increase income for weapons purchases. Several oil states have announced major weapons buys from the West, including a recent multi-billion-dollar purchase of Lockheed/Martin F-16 fighter jets." On 5/17/2000, WorldNetDaily quoted Senator Bill Bradley (former Democrat presidential candidate): "In 1991, we did fight the Persian Gulf War. We did win. And now gas prices are very high - the highest they've been. And I think the reason they're high now is because we more or less asked OPEC to raise oil prices in hopes of helping Russia be able to sell its oil on the international market, make more foreign exchange and be able to develop its economy." On 5/17/2000, a Washington Post article wrote: "U.S. Energy Secretary Bill Richardson visited Saudi Arabia in February 1999 when prices were at their lowest. Richardson reportedly pressed Saudi Oil Minister Ali Naimi on the 'oversupplied market' and expressed concern about 'extreme price volatility.' Former Saudi minister Sheik Ahmed Zaki Yamani told a Houston oil conference that Richardson had 'saved the oil industry' during that visit, because his 'intervention' had 'persuaded' the Saudis to change policy by raising prices. "In a move seen as a reward to Russia for advocating an end to UN sanctions, Iraq issued new export allocations that heavily favored Russian trading companies. Thus, Russia profited both from the rise in oil prices and from expanding Iraqi production," stated the Post article. "The run-up in price has had other unanticipated effects. It made the Chechnya war affordable for Russia." So, in addition to bailing out greedy U.S. bankers holding failed loans to Russia, Indonesia, and Mexico, every time you fill your gas tank, you are helping Russia to built a nuclear missile. Despite a crippled economy and rampant corruption, Russia is using its new oil profits to build very expensive SS-27 Topal missiles. Russia's windfall oil profits (courtesy of Bill Clinton) also helped Russia to finance its war against Chechnya. Obviously, the corruption in the Clinton Administration knows no bounds (i.e., lying, drugs, market manipulation, bribes, blackmail, murder, etc.) but considering the threat to U.S. national security from Clinton's present strengthening of Russia, shouldn't we be calling this aid to our enemies (i.e., Russia and Iran) what it really is - high treason? [ED. NOTE: Iran is also trading oil to China in exchange for U.S. missile technology it has obtained (from Clinton).] Incidentally, Al Gore and family also profit from the skyrocketing oil prices since they are in bed with the late Armand Hammer's Occidental Petroleum [ED. NOTE: Hammer and his father Julius (the founder of the Communist Party USA), via Occidental, helped to finance Russia, Lenin, Stalin, and the Gore family - father and son.] As WorldNetDaily recently wrote: "The deadly game of Clinton diplomacy, a combination of oil, money and nukes, has spread like a slick across the globe. The U.S. public is financing the corrupt regime in Russia, a war in Chechnya and nuclear tipped Russian missiles pointed at America." [ED. NOTE: The present oil price spike is not like the rise during the Gulf War in 1991. That was triggered by a panic run-up before and during that brief war, due to unfounded and temporary fears that the war would spread. When those fears subsided, so did the price of oil. The present oil price run-up, however, is based on a long-term, cyclical buildup of inflation and Clinton collusion with Russia, Mexico, Indonesia and Iran, and is not likely to subside anytime soon. The longer oil stays at historic highs, the more inflation will gestate through the pipelines. The Japanese will need higher yen to offset the pain of high oil imports and that means a lower U.S. dollar.] B. FRAUDULENT GOVERNMENT INFLATION NUMBERS Respected economist Ed. Hyman said on 6/10/00 that gasoline prices are up 80% year/year. [ED. NOTE: The lying Clinton Bureau of Labor Statistics claims the prices are only up 26.6%. Not true! In May the BLS claimed energy fell 1.9% and gasoline dropped 3.5% in spite of gasoline and oil being sharply higher in May over April. The BLS calls their bogus numbers a "statistical quirk." Lehman Bros. said the BLS stats were "bizarre." The Fed openly ridiculed the Clinton inflation numbers as fraudulent. In May, every single day had higher gasoline, oil, heating oil and natural gas prices than the highest price of April. If you examine what days the BLS says they "sample" (the 9th-14th of each month) you see that the April period had gasoline futures at 72-77 cents. The May period was 90-95 cents. Oil was $23-25 in April and $28.50-$30.30 in May. The BLS numbers are at odds with the U.S. Department of Energy which recorded gasoline up double digits in May. For the year ending May 2000 the Department of Energy showed gasoline prices up over 60% versus 26.6% for the BLS numbers - which are used to calculate the CPI. And that's how the Clintonistas get no inflation! On 7/19/2000, Bill King of M. Ramsey King Securities wrote: "The BLS still manipulates the figures to keep inflation numbers lower than warranted. BLS still continues to use computer price declines to offset the huge price increases in energy. It's a disgusting joke. BLS shows computer prices are down 24.4% y/y. This is due to their fraudulent use of 'quality adjustments.' "This is pure garbage. We upgraded our computers last year. Did our word processor become more productive? Did it improve the quality of our quotes? Did it enhance our forecasting ability? Did our faxes and email improve? I dare anyone to quantify, or show me proof of how the increased quality of our Dell improved productivity. This is the productivity hoax." C. SIGNS OF SURGING INFLATION The CPI jumped to an annualized rate of 5.7% in the first three months of 2000 (see chart) - the highest and fastest increase in eight years (and that in spite of the Clinton/BLS understatement of the statistics). The U.S. trade deficit is the worst in history. In the nine months through May 2000, the U.S. purchased $280 billion more in goods from foreign nations than it sold - the biggest gap ever. Commodity prices are surging. Year on year changes in major CRB groups as of the end of the second quarter were: CRB futures - up 17%; Industrial Metals - up 6.28%; livestock - up 24.4%; energy - up 68.28%; and precious metals - up 19.15%. [ED. NOTE: Stagflation (i.e., rising prices and flat to declining corporate earnings due to Internet price cutting, cheap foreign labor prices, and insane NAFTA/WTO policies) is the most likely scenario over the next few years.] Speaking of an Internet price squeeze, Warren Buffet recently said that "The Internet will create no more wealth than a chain letter." [ED. NOTE: This writer agrees!] Buffet says that the Net doesn't increase profits but squeezes them as buyers look for ultra cheap prices or something for nothing, and sellers sharply discount their prices. Buffet says that shareholder ignorance has never been higher. Soros and Robertson (Tiger Fund) agree with Buffet and have recently closed down their giant funds due to "very risky, highly volatile markets." Soros says we're in a bear market and don't know it!] snip.... <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. 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