Monday, June 9, 2008

What Is The Cause Of The Word-Wide Rise In Oil And Food Prices?

What Is The Cause Of The Word-Wide Rise In Oil And Food Prices?

By Ibrahim Turner

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· Searching for 'truckers strikes over high fuel prices'

338,000 entries from Google.

· Searching for 'fisherman's strikes over high fuel prices'

336,000 entries.

· Searching for 'food riots over high prices'

710,000 entries.

· Searching for 'demonstrations over high prices for food'

2,980,000 entries.

· Searching for 'articles about high oil prices'

85,900,000 entries.

The world price of oil hit another record today at $138 a barrel.

Many of these articles blame the high prices on speculators on 'oil futures' gamblers on Wall Street and stock exchanges around the world. Morgan Stanley predicts $150 a barrel by July 4th.

What is going on here? Why are speculators, who lost billions in the last fiasco of sub prime mortgages racket, being allowed to drive up oil and food prices into another bubble? Where the hell are the regulators? Oh that's right, oversight has been whittled away, at least in America by pressure from these same 'bankers', with a capital 'W' on Congress, who of course own shares in oil, munitions, and Monsanto, the Genetically Modified Seed and Food Giant Corporation.

What a crock! What a blatant and absolute fraud!

What is in store for the billions of poor people around the world who live on $1 a day? What is in store for the relatively rich populations of America and Europe when fuel prices have greater and greater impact on already rising food prices, driven up by these same speculators?

Give it another month and when the prophesy of $150 a barrel sinks into the collective consciousness of all the truckers, fishermen, farmers who use fuel and pesticides and fertilizers, not to mention the ordinary motorist trying to get to work, expect the proverbial 'doodoo' to hit the revolving air machine.

There have been many articles alluding to the fact that America is already bankrupt, having spent billions on the war in Iraq and Afghanistan, the burgeoning U.S. Department of Homeland Security, all in hock to China, Japan and Asian countries.

The dollar is steadily tanking and today the New York Times sent me a news alert, which said, 'The Dow Jones Industrial Average fell about 400 points, driven by economic concerns and by oil prices that soared to near $140 a barrel."

In 2008, for example, it took $21.57 to buy what $1 bought in 1913.

The Last Great Bubble - Counterfeiting the Dollar

The last few years has seen a series of "nested bubbles" popping. The Internet bubble popped and brought down the tech sector, which brought down the NASDAQ, which is bringing down the U.S. economy. But the granddaddy of them all, the bubble, which envelops them all, is still in play.

You may be inclined to think that the green bills in your wallet are dollars, but I have shocking news for you: They're not. They're counterfeits. Since 1913, a gradual shift has turned our money from wealth to debt, and finally into a speculative investment.

For more detail on the creation of the Federal Reserve and the history of the decline of the dollar and the Congress see,

For the causes of the Great Depression of the 1920's see,

"The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world. The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the latter part that same decade. The misdistribution of wealth in the 1920's existed on many levels. Money was distributed disparately between the rich and the middle-class, between industry and agriculture within the United States, and between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive speculation in the late 1920's kept the stock market artificially high, but eventually lead to large market crashes. These market crashes, combined with the misdistribution of wealth, caused the American economy to capsize.

The federal government also contributed to the growing gap between the rich and middle-class. Calvin Coolidge's administration (and the conservative-controlled government) favoured business, and as a result the wealthy who invested in these businesses. An example of legislation to this purpose is the Revenue Act of 1926, signed by President Coolidge on February 26, 1926, which reduced federal income and inheritance taxes dramatically. (Echoes of George Bush' tax cuts for the rich?) Andrew Mellon, Coolidge's Secretary of the Treasury, was the main force behind these and other tax cuts throughout the 1920's. In effect, he was able to lower federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,000. Even the Supreme Court played a role in expanding the gap between the socio-economic classes. In the 1923 case Adkins v. Children's Hospital, the Supreme Court ruled minimum-wage legislation unconstitutional."

Do you see the similarities to the 1920's Great Depression? Almost all the factors are in place now that were contributing to the situation then, except that now, the situation is global.

Break out the old records of the depression songs like.

'Hallelujah I'm a bum, I went to a house and I asked for some bread, and the lady said, bum, bum the baker is dead.'

It would seem that millions of people worldwide will die of starvation in the next few years as the world economy collapses.

Now the real question is, is just the result of bad money management and greed or is it planned? And if so what is the objective?

The Rise of Disaster Capitalism

By Naomi Klein.

Last summer, in the lull of the August media doze, the Bush Administration's doctrine of preventive war took a major leap forward. On August 5, 2004, the White House created the Office of the Coordinator for Reconstruction and Stabilization headed by former US Ambassador to Ukraine Carlos Pascual. Its mandate is to draw up elaborate "post-conflict" plans for up to twenty-five countries that are not, as of yet, in conflict. According to Pascual, it will also be able to coordinate three full-scale reconstruction operations in different countries "at the same time," each lasting "five to seven years." Fittingly, a government devoted to perpetual pre-emptive deconstruction now has a standing office of perpetual pre-emptive reconstruction.

So when banks and institutions go belly up, who steps in to 'rescue' them, paying pennies on the dollar? Why your friend and mine, the chums of the Federal Reserve Bank, the Central European Bank, the Bank of England, Various oil rich states and their investment companies, and Chinese Companies, backed by the Central Bank of China, and the same with Japan, all of who hold Government bonds and securities of the U.S.

So what it amounts to is a gigantic fraud and swindle by central bankers worldwide. The Federal Reserve is jut one of the clique, imposed on America in 1913 by deceit and subterfuge. The bankers like Morgan Stanley, when the asked about the new legislation before Congress by the newspapers said they were against it. That was enough misinformation for the papers to advocate passing the legislation 'because the bankers were against it'.

Today, the Federal Reserve Bankers and shareholders are beholden to no one and there is never an audit or oversight by Congress. They do just whatever they like; have hidden agendas as they like, manipulate the inflationary bubbles in Wall Street and with the complicit agreement of Congress create money out of thin air! What bigger fraud could there possibly be?

Even some Congress Senators still think that the dollar is backed by gold, but that went out of the window during Nixon's time. And various oversight regulations and rules have been whittled away over the last 30 years that now the Wall Street, Federal Reserve Bankers have complete control of the money supply, the inflation and interest rates, and these clever financiers are so clever that they have created the casino like bubble of financial shenanigans that nobody can understand and there is blatant and ongoing fraud occurring daily and by the hour. Billions given to Morgan Stanley to buy out Bear Stearns for pennies on the dollar with money created out of thin air by the Federal Reserve.

And when you think about it in the round, so to speak, these people will be responsible for the deaths of starving millions because of the high food and oil prices, brought about by their casino gambling and deliberate talking up stocks into a bubble in order to make a quick profit, before the little investor gets left holding the dead baby.

It is time. It is time to put a stop to this fraud, this blatant manipulation of the money supply and abolish the Federal Reserve. Once America 'comes to its senses' the other Central banks will quake in fear that it will happen to them. When the starving striking fishermen and truckers really get to know who is causing all this, then the 'global economic fraud' will end.

Don't believe it? Watch Ron Paul videos on You Tube about the Federal Reserve. When the people wake up the bankers will not sleep easy in their beds and in their gated communities.

What do they have in store for us little people? These bankers who finance both sides in major wars?

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