$2.5 Trillion – That’s the size of of the global oil scam.
It’s a number so large that, to put it in perspective, we will now begin measuring the damage done to the global economy in Madoff units ($50Bn rip-offs). That’s right $2.5Tn is 50 TIMES the amount of money that Bernie Madoff scammed from investors in his lifetime, yet that is LESS than the MONTLY excess price the global population is being manipulated into paying for a barrel of oil. Where is the outrage? Where are the investigations?
Goldman Sachs, BP, TIT, DB and Societe General founded the Intercontinental Exchange in 2000. ICE is an online commodities and futures marketplace. it is outside the US and operates free from the constraints of US laws. The exchange was set up to facilitate “dark pool” trading in the commodities markets. Billions of dollars are being placed
on oil futures contracts at the ICE and the beauty of this scam is that they NEVER take delivery, per se, they just ratchet up the price with leveraged speculation using your TARP money this year alone to ratchet up the global cost of oil from $40 to $80 per barrel.
You can chart the damage done by Goldman Sachs and their gang of thieves by by looking at commodity pricing pre and post ICE. Before ICE, commodities followed a more or less normal growth path that matched global GDP and was always limited in price appreciation by the fact that, ulitmately, someone had to take delivery of a physical commodity at a set price.
ICE threw that concept out the window and turned commodity trading into a speculative casino game where pricing was notional and contracts could be sold by people who never produced a thing to people who didn’t need the things that were not produced and in just 5 years after commencing operations, Goldman Sachs and their partners managed to TRIPLE the price of commodities.
Before ICE, the average American family spent 7% of their income on food and fuel. Last year, that number topped 20%. That’s 13% of the incomes of every man, woman and child in the United States of America, over $1Tn EVERY SINGLE YEAR, stolen through market manipulation. On a global scale, that number is over $4Tn per year – 80 Madoffs! Why is there no outrage, why are there no investingations. Well the answer is the same – $4Tn per year buys you a lot of political clout, it pays to have politicians all over the…
