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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (149716)4/21/2011 4:05:14 PM
From: ChanceIs5 Recommendations  Read Replies (3) of 206092
 
Obama, Holder Declare War On Oil Traders, "Speculators"

Submitted by Tyler Durden on 04/21/2011 14:40 -0400

And for today's case of pure unadulterated idiocy:

( 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

Number of mentions of the one true satanic culprit for oil price explosion? Zero. For everything else there is scapegoating. And again. And again.

And the next question: how long before executive order XXXXX decides that it is in the national interest to sequester all black gold held in speculative accounts? And how much after that will all gold be confiscated, without prejudice for color?
_________________________________

Note: ZeroHedge likes to refer to Bernanke as "The ChairSatan," hence the reference to the "one true satanic culprit" implies that crude is rampaging due to The ChairSatan's money printing and nothing else. This of course is 80% of the truth. Crude is also rising on Obama's ridiculous war against Libya, which is turning into the low grade civil strife I predicted - as if anybody but Obama couldn't see that coming.

Obama is giving Goebbels a run for his money in terms of blame transfer. Its those wicked speculators. How man times have I heard this??? The SPR dump comes next.

Obama is starting to make the Keystone Cops look organized. He is also a little scary. A cousin sent me a video of him during the '08 campaign telling the story of things around his house when his father came home from WWII. A little research showed that his father would have been six years old at some point (beginning/end) of WWII. That guy knows how to blow smoke. Also knows that Americans are too dumb to sort it out. Sorry to have to say that.

OBTW. We bailed out Fannie/Freddie so far for about $400 billion. Given the fact that only half of Americans pay taxes, that comes to about $2K each. That is still a lot of gasoline even at $5/gallon. You would have thought that after Sen Levin requested criminal investigation of the banking crew this week that Holder would - finally - be after the bankers. But no. Going to go trump up some charges against against crude speculators.
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