Longcol Posted July 16, 2012 Share Posted July 16, 2012 You have to remember it's all the financialization that does it though. I'm just waiting for the Illuminati and Bilderberg to appear as well - they usually appear about this point. They have fingers in everything remember :hihi: [icke forum mode] I bet teh eebil banksters have cornered the super dooper nano termite market as well. And of coarse banksters is neerly always joos [/icke forum mode] Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 16, 2012 Author Share Posted July 16, 2012 Your sarcasm detector appears to be broken. Nope. I just think you're trying to portray me as a lefty conspiracy nut. Quite cute really. Link to comment Share on other sites More sharing options...
Obelix Posted July 16, 2012 Share Posted July 16, 2012 [icke forum mode] I bet teh eebil banksters have cornered the super dooper nano termite market as well. And of coarse banksters is neerly always joos [/icke forum mode] Sssh - I'm trying to keep my corner there quiet! I've just about managed to get all the cheap futures on nano an pico termites and you are letting the cat out the bag! Link to comment Share on other sites More sharing options...
Obelix Posted July 16, 2012 Share Posted July 16, 2012 Nope. I just think you're trying to portray me as a lefty conspiracy nut. Quite cute really. No I'm just portraying you as someone who apparantly knows nothing about what he's talking about and has some "wikipedia" "article" that says nothing useful to back him up. Quite sad really how someone who is presumably at least reasonably intelligent can get suckered in by such an article. Now since it's clear you are not going to a) produce evidence or b) listen to reason I'm out of here. Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 16, 2012 Author Share Posted July 16, 2012 No I'm just portraying you as someone who apparantly knows nothing about what he's talking about and has some "wikipedia" "article" that says nothing useful to back him up. Quite sad really how someone who is presumably at least reasonably intelligent can get suckered in by such an article. Now since it's clear you are not going to a) produce evidence or b) listen to reason I'm out of here. The Wikipedia article is actually pretty good for Wikipedia. I don't know why you won't explain exactly what is wrong with it. I only posted it because it is a good intro. There is plenty more stuff available online, like the link I posted more recently that you probably haven't bothered to read: http://www.ccfr.org.cn/cicf2012/papers/20120525010717.pdf Link to comment Share on other sites More sharing options...
Longcol Posted July 16, 2012 Share Posted July 16, 2012 Sssh - I'm trying to keep my corner there quiet! I've just about managed to get all the cheap futures on nano an pico termites and you are letting the cat out the bag! You get all the good jobs - I'm having to work overtime to keep Moloch in child sacrifices Link to comment Share on other sites More sharing options...
fake Posted July 17, 2012 Share Posted July 17, 2012 From what I have read and heard on the BBC OPEC want to try and keep the cost of oil to around the $100 barrel mark. That is to protect their future as most of these oil producing countries would have nothing else to trade when it eventually starts to run dry. OPEC only produces around 40% of the worlds oil but it has around 66% of the total worlds oil in reserves and that plays a major factor in pricing. But, when you take into account that over 62-64% of the cost at the pumps in the UK is tax and VAT then you should question just who is ripping who off. The banks are just minnows compared to the government sharks. Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 17, 2012 Author Share Posted July 17, 2012 More info here, including involment of banks: http://www.bbc.co.uk/news/business-18856018 Link to comment Share on other sites More sharing options...
Anna B Posted July 17, 2012 Share Posted July 17, 2012 Once again, I know that markets have existed for thousands of years. I like them. I think we need them. I like that people make money from them. It's good. But in the past 20-30 years things have changed dramatically because of the rising dominance of the financial sector and deregulation of many markets. The point of the article linked to in the OP is that bankers may have been able to distort the market for their own gain. This may also be the case in other markets too. Markets are no longer as simple as you think. Agreed. I've been trying to draw attention to this for a long time. When the housing market bubble collapsed, a lot of financiers moved out of property speculation and into commodities, which has been one of the main causes of food price inflation. Here, it means our grocery bill gets more and more expensive, but in countries which are already at subsistance level, it is the difference between eating or starving. I read an article in 'The Week', which said far more people had died because of this, than because of drought or failed harvests. Bankers are now so powerful they can rig and manipulate markets at will. For instance, one banker (I'm sorry I can't remember his name, but this is well documented,) bought up the entire cocoa harvest at rock bottom prices and stored it, creating a world wide shortage, until the price rose sufficiently, and then sold it at a terrific profit. This has also been tried with staples such as rice, but is not as easy as rice is much more widely grown, however cartels can be formed between banks to manipulate the price. Banks will stop at nothing to turn a fast buck, and care nothing for the welfare of the people. Link to comment Share on other sites More sharing options...
Obelix Posted July 18, 2012 Share Posted July 18, 2012 Agreed. I've been trying to draw attention to this for a long time. When the housing market bubble collapsed, a lot of financiers moved out of property speculation and into commodities, which has been one of the main causes of food price inflation. Here, it means our grocery bill gets more and more expensive, but in countries which are already at subsistance level, it is the difference between eating or starving. I read an article in 'The Week', which said far more people had died because of this, than because of drought or failed harvests. Bankers are now so powerful they can rig and manipulate markets at will. For instance, one banker (I'm sorry I can't remember his name, but this is well documented,) bought up the entire cocoa harvest at rock bottom prices and stored it, creating a world wide shortage, until the price rose sufficiently, and then sold it at a terrific profit. This has also been tried with staples such as rice, but is not as easy as rice is much more widely grown, however cartels can be formed between banks to manipulate the price. Banks will stop at nothing to turn a fast buck, and care nothing for the welfare of the people. Oh dear... It was in July 2010, it was the Anthony Ward hedge fund, and they didn't buy "the entire harvest" at rock bottom prices, they bought 7% at market prices over a period of many months. At which point - the world price of cocoa fell and fell considerably for some months afterwards. That's not cornering the market, that's looking at where prices are likley to go and buying a series of long dated options. In short, that's just how the market is supposed to work. Cocoa growers get a guaranteed price for their beans, and the market makers get to make, or lose money depending on how good they are at working out where the market is likely to go. Link to comment Share on other sites More sharing options...
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