Yesterday, with absolutely nothing going on from a supply or demand standpoint, with most hedge fund managers at the beach during this short week, Brent crude oil rallied more then FOUR dollars. HUH? What the heck was that about?
A whole bunch of Senators and Congressmen have been prodding the Obama administration to release a part of the Strategic Petroleum Reserve in order to counteract recently rising prices of crude oil and refined gasoline and heating oil.
The spontaneous mass uprising of ordinary people in Egypt against their authoritarian regimes has many root causes. One that deserves much greater attention is unfettered financial speculation that distorts global food supplies.
If we follow current global economic trends to the logical conclusion, most of the money in the world will soon be held by a small group of investors who will hold no allegiance to any nation or ideology.