In response to:

Are Speculators to Blame for High Gasoline Prices?

para_dimz Wrote: Feb 23, 2013 8:08 AM
Whoops, do over! I have contended for awhile that the FED knows and encourages commodity speculation especially for oil. Price spikes act as a sponge for excess liquidity, holding down inflation and abating the need for interest rate increases, reserve requirement increases or on a fiscal route, tax increases to sop up excess liquidity. Of course it outs an artificial squeeze on all of us but it keeps the FED and the general government out of the picture when the blame game starts. In fact I tend to believe aobama's current obsession with taxes on the wealthy are meant eaxctly for this reason. Everyone know about income disparity. If left to its own devices that growth in income at the top would begin to seep through the economy.
Larry in Texas Wrote: Mar 19, 2013 9:47 AM
Yes, it's going to get ugly if (yeah) and when the economy finally craters. Sad. The ship must be slowed and turned around. Must be.
para_dimz Wrote: Feb 23, 2013 8:14 AM
Consider this. Nixon took us off the gold standard and Kissinger somehow encouraged the formation of OPEC nearly in unison. Since then both inflation and the price of oil have skyrocketed. I do not think that is any coincidence. Oil Is used by government to sop up excess liquidity. It allows government and the FED to feed the momster in Washington at our expense without blowing up the game. I believe the recent price spike since aobama took office was deliberate and in sync with current skyrocketing deficit spending and FED inflation. We're their pawns. Using tsx increases would waken us. Using interest rates would draw ire from bond markets. Using reserve requirements would set off the bankers and big business.We're the pawns w/o a voice.

Given a two-day plunge in crude futures, gasoline prices may have hit a temporary peak.

Nonetheless, consumers feel the pinch as pump prices have risen 34 straight days. For only the fifth time in history Gas prices topped $4 a gallon in District of Columbia.

Nationwide, the price of a gallon of regular gasoline climbed to $3.78 a gallon, up 47 cents in the past month, the AAA said.

In parts of California, Gasoline Prices...