American Media Doesn't Want You To Know That Goldman Sachs Controls The Price of Gas in America

[Vinnie From Indy]

Matt Taibbi writes about another huge rip-off by Goldman-Sachs in regard to manipulating the oil markets. Remember last year when gas was hitting $4.00 a gallon? You can thank Goldman-Sachs for that.

"Concern over such deal-making reached a fever pitch last summer, when oil prices were sky high and people were feeling pain at the gas pump. CFTC data showed last year that a significant amount of trading in oil was concentrated in the hands of just a few speculators. These worries have waned since then, as gas prices have moderated from last year's highs, though a recent run-up in fuel prices may prompt new questions."
-- CFTC Floats Rules Aimed at Speculation - washingtonpost.com.

This is a great example of how a story that's primarily about Goldman and Morgan Stanley manages never to mention them by name.

The Post leaves out a lot of details in this piece. Among other things, they describe this new plan by the CFTC to place restrictions on speculative commodities trades as an idea that came from new CFTC commissioner Gary Gensler, who of course is a former Goldman banker and was a key aide to Bob Rubin back when the two of them were in the Treasury in the late 1990s and pushing for the deregulation of derivatives.

From what I understand, the opposite is true here. This new plan was what Gensler had to agree to in order to be confirmed by the Senate. A hold had been placed on his nomination by Bernie Sanders (although the Democratic majority, unimpressed with Sanders's complaints, pushed his nomination anyway), and was only lifted when Gensler agreed to eat this plan and a few other policy changes.

[Sebastian Doyle]

1. Maybe if we tell the whores that Michael Jackson was on the board of Goldmine Sucks

they might cover the story?

[taterguy]

2. The American media won't cover any story that takes longer than one minute to understand

What was I talking about?

Damnit I forgot already.

[wroberts189]

3. Goldman Sachs seems to be front and the center of the class war.

Glad they are getting some probably very unwelcome exposure if only on the blogs.

[DJ13]

4. Goldman Sucks owns large stock positions in the co.'s that own the MSM

Money IS influence in this bastardized country we call the US.

[Terry in Austin]

5. It's a dirty job

...but somebody's got to do it. Or gets to do it. Just happens to be Goldman Sachs. Not to worry, though -- they're just exploiting the end-game to make a dishonest buck. Strictly temporary.

Even if we could get them to stop playing naughty, it wouldn't put more oil in the ground. I believe we can thank Nature for that.

[Junkdrawer]

6. Modern Day Pirates...

or should I say Privateers? Piracy is such an ugly word...