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Politics : President Barack Obama
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To: Jim McMannis who wrote (110279)2/26/2012 9:08:06 PM
From: RetiredNow  Read Replies (1) of 149317
 
Nah. The oil market is too large to be manipulated by Wall Street. The people with the best chance to manipulate the oil price are the countries in OPEC. The only other force powerful enough is the US Fed. Currency manipulation is the most powerful force on earth when it comes to setting oil prices. If you want oil prices to crater, you can do it easily by strengthening the currency, which means raising rates and removing liquidity. Do you remember the Clinton years? Oil prices were rock bottom, even in the face of a massive economic boom. The reason? The dollar was very strong. See below. If you want oil prices to rise, you can devalue the dollar. The dollar and oil are inversely correlated.





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