$$$$Oil? Blame Morgan Stanley!

I've been telling my collegues this for nearly a year -- what we're seeing today in not just oil, but in all commodities, is the same mindless, greed-driven effect we saw in technology stocks in the 90's and in real estate up until recently.

It's called speculation.

And now, there's a face to the enemy -- Morgan Stanley and Goldman Sachs. At least that's the implication according to this story.

And it makes sense. They are the big investors in oil futures right now; any little buying move on their part pops the barrel prices skyhigh.

To add insult to injury, Morgan Stanley seems to be again manipulating things to their benefit. MS goes on an oil buying spree beginning June 4. Then on June 6, one of their analysts comes out and "predicts" oil will hit $150/barrel by the summer. Suddenly all those barrels they've been buying at high $120's and low $130's looks like a deal -- because their analysis can move markets.

While, of course, there's no concrete proof, there is damn enough history to show that big investment banks have done this in the past. Remember the tech bubble? How 'bout all those big investment house reports showing how the housing market would be on a perpetual value upswing for decades?

And then it all comes crashing down. This time, I'm rooting for the crash. I'd love to see oil back at $70/barrel.

Don't forget about Merryll Lynch. They just set up global hubs in Jacksonville, FL and Toronto, ON.

I'll post something I put in another thread because it applies here as well. I hope to God George Soros is right - oil is a bubble - and I hope all of the greedy SuperClass lose their shirts.

www.wakeupfromyourslumber.com...

WHAT YOU NEED TO KNOW

--The food and oil crisis is caused by runaway speculation.

--Runaway speculation was caused by total de-regulation, and by the regulators (CFTC) being in on the scam.

--After the sub-prime mortgage meltdown, the criminals (banksters, hedge fund managers, etc) moved into the commodities markets.

--To restore sanity, we must regulate all commodity exchanges worldwide, and we must increase margin requirements for commodity traders. (That is, we must demand that players put up a lot more money, and take on a lot more risk).

--We need not discuss the weak dollar (which plays a role) or rising demand from China, India, etc. Our immediate priority is to re-regulate the commodities markets NOW, and stop this insane bubble from metastasizing further. We absolutely must get food and oil prices under control.

Otherwise the USA is headed for a depression, and much of the world is headed for famine.