I enjoyed your show on energy
You and your guests spent a little time on speculators and the extent of their role on oil prices. However, no one spent any time on what speculators speculate on..
I speculate on the fluctuation of currency exchange rates. However I speculate about the same things oil speculators speculate about..
"You" mentioned the effect of uncertainty about government energy policy on the price of oil. One of your "guests" briefly mentioned the decline in the value of the dollar.
The one thing no one mentioned at all, in the whole show, was the Federal Reserve Bank of the United States of America.
No one talked about the fact that nearly all commodities, world wide, are priced in United States dollars, the world's "reserve currency".
No one ever seems to talk about the fact that the United States dollar has lost some 96% of it's value, through intentional inflation, since the inception of the Federal Reserve Bank.
But back to your show on energy. No one even mentioned the effect Federal Reserve monetary policy has on the value of our fiat currency or the effect the intentional devaluing of our currency has on the price of commodities all over the world.
Federal Reserve chairman Ben Bernanke said last year that inflation was.. too low.
That the deflation bogeyman was right around the corner and that we needed MORE inflation.
And it's easy for the central bank to intentionally create inflation by deflating the value of our fiat currency.
And it worked too. Commodity prices, I think we can agree, are inflated.
No one, in the main stream media, talks much about the irresponsible actions of the Federal Reserve being the sole purchaser of United States debt. What is commonly called "monetizing the debt". Something that Federal Reserve chairman Ben Bernanke said he would not do.
No one talks much about the fact that the Federal Reserve Bank has pumped trillions of, as yet unearned, tax payer dollars into a bankrupt banking system or the fact that the Federal Reserve Bank balance sheet is filled with worthless MBS paper that no one else wanted. Formerly known as toxic assets. As seen here and here.
There are many very smart people who DO cover the lies and manipulations of the Federal Reserve Bank.
No one talks much about the fact that the Federal Reserve Bank intentional creation of high inflation has been a major factor in global unrest, including in the middle east.
No one talks much about the Federal Reserve Bank holding interest rates at or near ZERO for the last decade. Thereby punishing savers. Obviously a blatant, and somewhat effective, effort to FORCE people into risky assets to receive a decent return on their investment.
We have heard Fed chairman Ben Bernanke brag about how he has manipulated the stock market higher, the so-called "wealth effect" while at the same time denying any responsibility for higher inflation. Even though his publicly stated goal has been to create inflation by forcing people into risky assets via irresponsible Fed policy.
The "wealth effect" isn't working this time around because most people now realize that the markets and Wall St. are a completely rigged game, operated by the Fed and Primary Dealers / banks.
In my opinion people have lost faith / confidence in our monetary system as a whole. They are waking up to the fact that our own fiat currency is backed by absolutely nothing but more.. paper..
My point being.. Speculators speculate on tangible things taking place in the real world. At the top of this list is United States government and Federal Reserve Bank POLICY.
Thank you for your time.
Gregory S. Phillips