I ordered the book from Amazon.
----- Original Message -----
From: Jason C
To: [email protected]
Sent: Monday, June 23, 2008 11:00 AM
Subject: NPC: NMC: Oil futures bidded up by the Hedge Funds. And about
themonetary system...
No comments on the links I sent, eh?
Jason C <[EMAIL PROTECTED]> wrote:
Please, enough partisan talk - the Republicrats are bowling on the same
team, and they're creaming us, on the other team.
I agree with the petition. However, the MAIN reason oil prices are going
up is the HEDGE FUNDS run by Morgan Stanley, Goldman Sachs, Citigroup, JP
Morgan Chase. Why are they doing it?
http://www.financialsense.com/editorials/engdahl/2008/0502.html
--QUOTE--
"today's oil prices are really determined is done by a process so opaque
only a handful of major oil trading banks such as Goldman Sachs or Morgan
Stanley have any idea who is buying and who selling oil futures or derivative
contracts that set physical oil prices in this strange new world of "paper
oil." "
BTW the amount of capital the above top 4 hedge funds have is on the order
of EIGHT years of the USA's economic output. Yes, EIGHT.
Interestingly the same companies that own these hedge funds, are the same
top corporate contributors to O-bomb-uh and McSame. Just look at Obama's top
10 list - in there are Morgan Stanley, Goldman Sachs, Citigroup, JP Morgan
Chase. He ain't gonna turn his back on them:
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638
Now look at McSame:
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00006424
Same four hedge fund companies.
To help you understand the hedge funds and the rest of the financial
cartel, read this book. It was a REAL eye opener for me (I used to think the
gold standard was a panacea, for instance):
http://webofdebt.com
Wonderful allusions to "The Wizard of Oz". It's a stunningly good book
which goes into the lots of historical detail of money and money politics, fiat
currencies and the gold standard, from 5,000 years ago, through Europe's middle
ages, and the birth of the USA to the present, including the present subprime
mortgage mess which has the economy teetering on a precipice, as well as the
currency speculation attacks by the same Hedge Funds on the Asian "tigers" in
the 90s (Thai Baht currency crisis), and the attacks on the Mexico and Brazil
in the 70s and 80s.
The central banks create money out of nothing (aka "fiat" money), and LOAN
it to government, expecting to be repaid WITH interest(!). (this is called
"debt based fiat currency") This is done via "monetizing the debt" by the
Fed. The commercial banks do the same to consumers and corporations via
"Fractional reserve banking". This system was invented several hundred years
ago in Europe, and was one of the causes of the American Revolution. This
system is the reason for the spiralling unpayable debt of the federal
government today.
The financial corporations that got rich off of this back then are still
alive and well today. The ramifications of this system (debt based fiat
currency) are well explained in the book. This begs the question: Why doesn't
government create its own money for its own expenses (called "non-debt based
fiat currency"), instead of giving the power to create money to a private
corporation (i.e. the Federal Reserve), which collects interest on it?
Several alternate fiat systems and asset backed currencies, and banking
models, and attempts at such, are discussed in the book.
Caution: if you're like me, a voracious reader, you can't put this book
down.
------------------------------------------------------------------------------
_______________________________________________
Miatapower mailing list
[email protected]
http://list.miatapower.net/cgi-bin/mailman/listinfo/miatapower
_______________________________________________
Miatapower mailing list
[email protected]
http://list.miatapower.net/cgi-bin/mailman/listinfo/miatapower
