Monday, July 16, 2012
No duh, as they say
News item in UK Telegraph:
The G20 group has started an inquiry to determine if the world oil price is rigged to benefit speculators.
Good. While you're at it, study whether the sun is warm, and whether rain is wet, and whether plants are green, and whether you're a pile of psychopathic genocidal murderers.
We need all those studies to settle all these long-standing puzzles. Nobody has ever been able to figure these questions out.
Pulling out of /sarc mode, the real problem is that we not only know the truth, we know in advance what this particular study will conclude. Since the Mafia is "investigating" itself, the Mafia will conclude that world oil prices are purely set by unadulterated economic forces. Nothing there but honest supply and demand.Same thing with LIBOR. We're busy "investigating" various attempts to "corruptly" influence LIBOR, and we're cleverly avoiding the main point. Plain fact: LIBOR was invented in 1984 as a tool of corruption. Its single sole solitary purpose is to enable the banksters to control every aspect of the economy without lifting a finger. Banks got along without LIBOR for hundreds of years; made lots of profit in those centuries. They could get along without it again.The only proper answer is to restore the 1936 securities laws. Eliminate the entire mess of speculation and derivatives. Confiscate all of its ill-gotten loot. Start from scratch. Create banks that pay interest on deposits and charge interest on loans. ¶ 2:08 AM
The G20 group has started an inquiry to determine if the world oil price is rigged to benefit speculators.
Good. While you're at it, study whether the sun is warm, and whether rain is wet, and whether plants are green, and whether you're a pile of psychopathic genocidal murderers.
We need all those studies to settle all these long-standing puzzles. Nobody has ever been able to figure these questions out.
Pulling out of /sarc mode, the real problem is that we not only know the truth, we know in advance what this particular study will conclude. Since the Mafia is "investigating" itself, the Mafia will conclude that world oil prices are purely set by unadulterated economic forces. Nothing there but honest supply and demand.Same thing with LIBOR. We're busy "investigating" various attempts to "corruptly" influence LIBOR, and we're cleverly avoiding the main point. Plain fact: LIBOR was invented in 1984 as a tool of corruption. Its single sole solitary purpose is to enable the banksters to control every aspect of the economy without lifting a finger. Banks got along without LIBOR for hundreds of years; made lots of profit in those centuries. They could get along without it again.The only proper answer is to restore the 1936 securities laws. Eliminate the entire mess of speculation and derivatives. Confiscate all of its ill-gotten loot. Start from scratch. Create banks that pay interest on deposits and charge interest on loans. ¶ 2:08 AM
