Perry Glasser

MURDOCH’S MINIONS RIP-OFF DOLLAR$ AGAIN!

In Business, Economics, Economy, EDUCATION, Finance, Personal Finance, Wall Street on August 18, 2011 at 10:21 am

Master Wizard Apologist

Dollars is getting downright smug at the frequency with which his in-bred skepticism coupled with a compulsive need to speak out beats the fabled Wall Street Journal to the punch.

The Journal is owned by Master Wizard-Apologist Rupert Murdoch and his News Corporation, chiefly known these days for scandal-mongering, tapping the cellphone accounts of murdered teenagers, and corrupting law enforcement in Great Britain.

August 18, 2011, page C1’s lead story in the Journal is about speculators in the oil commodities markets. The Journal notes that the Commodities Futures Trade Commission, a federal regulatory agency, has produced a list of speculators that includes Yale University, several global banks, Microsoft Corporation, and other “secret” investors who were dabbling in the futures markets as the price of oil reached record heights in 2008, heights never since matched. You may remember your pain at the gas pump.

Journal reporters note, “The list could fuel calls for a crackdown on oil speculators, a label critics apply to those who trade in oil but don’t use or produce it.”

August 17, 2001, one day earlier than the Journal, Dollar$ subscribers read the short course on commodities and saw this opinion:

“Dollar$ suggests that speculation can be controlled by requiring that all traders in future contracts be required to show the capacity to take delivery of the underlying commodity. If you aren’t a cruise line or airline, what the hell do you expect to do with 5 million gallons of fuel other than drive up the price?”

Hey, Rupert, how about lending me 100 researchers so I can make the case elegantly with numbers?

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