Saturday, July 20, 2013

How does $1 gasoline sound?

The Federal Reserve announced in the Friday news dump a one sentence statement saying that they are going to review the 2003 decision allowing banks to trade in commodities. This is the biggest news since Obama signed the Affordable Care Act. It could fundamentally change the future of the United States. Of course there is still time for nothing to happen. The thing about the Fed is that they don't make announcements about stuff until it's basically a fait accompli, but still we must wait and see.

2 comments:

Anonymous said...

It cannot be stressed enough todays commodity trading is a farce to rip of the citizens including those who can least afford it. The people woking three minimum wage jobs are paying up to 25% of gasoline prices to hedge fund operatives who trade commoditiy futures contracts thousands of times between each other with the tacit agreement to fix prices. Then they short sell the same way to make money on the prices falling. All this trading has built a house of cards that has arrived at 63% of the US GDP.

prairie2 said...

RWNJ came through posting comments that just didn't stand up to scrutiny. Sorry, try harder.