Jack Walker

The Global Oil Scam: 50 Times Bigger than Madoff

Phil,

Did you sent a copy of this article to the CFTC and the Congressional Oversight Committees?

Jack

World Series of Crude Oil: Winner Decides Winter Gasoline Prices

Bob,

Some of the major oil companies, such as BP, also have trading operations. How do we know they are not complicit and participating with Goldman and Morgan on the long side regardless of the supply and demand fundamentals?

If so, it makes one wonder what the CFTC and Department of Energy are doing.

Jack

CFTC: The Key to Market Manipulation

Avery,

This is an enlightening expose of market manipulation for the benefit of a few at the cost of society as a whole, well done. It seems as if Goldman’s quarterly profits are being paid, in part, by everybody else through higher commodity prices. This is a financial scandal of epic proportions.

The second part of the problem is to rid the commodities markets from long-term pension fund participation, which seems entirely inappropriate with their fiduciary responsibility of investing for long-term capital growth and income. The commodity markets are not long-term capital markets, they are price discovery markets intended for a completely different role. The large long-term capital participation of pension funds and trusts is another example of increasing commodity costs of society as a whole for the benefit of the brokers, dealers and Commodity Trading Advisers who have convinced pension fund trustees that commodities are just another asset class to be considered for long -term investing. This is a second scandal of epic proportions.

Jack

The ABCs of Oil Manipulation

Chris,

Have you considered writing a book?

Jack

Hedging Goldman's Earnings Report

Yo Bob,

Thanks for the comment. The good folks at Seeking Alpha have made the correction. Yes, it is tomorrow December 16, 2008.

Jack