By Ilene Danny Schechter at Al Jazeera interviews Philip R. Davis, founder of Phil’s Stock World, about excessive speculation in the oil markets. Speculators and free market believers may argue that they are not to blame, they are simply trying to make money by following the trends and not holding onto cash, as the Fed is busily devaluing the U.S. Dollar. There is some merit in that argument, but that doesn’t solve the problem. Addressing the problem begins with identifying the underlying causes – what is enabling and encouraging so much speculation? What kind of…
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