HJ: And the dominoes continue to fall. These articles are exposing what many of us already know– that all markets are heavily manipulated. When you have interests as powerful and wealthy as the oil lobby, the industry is just ripe for corrupt practices. Furthermore, no one truly knows how much oil is available on the planet and this done purposefully, as that knowledge (if it is truly known) is a state secret that could have major implications for oil prices if widely known. Ignorance keeps people under control. – Truth
Forget Libor-gate, Oil Market Manipulation Is Far Worse
Just a month ago Crude Oil WTI was $78 a barrel and today it is $93. Do you think the fundamentals changed one bit to merit this price swing? Nope! Supply levels are all at record highs around the world. Is it Iran? Please!! It is all about the money flows, nobody takes delivery anymore. Assets have become one big correlated risk trade. Risk On, Risk Off. If the Dow is up a hundred, you can bet crude is up at least a dollar! It has nothing to do with fundamentals, inventory levels, supply disruptions, etc. It is all about fund flows.