number6 JackWardenIII 2 days ago
Socialism was doing fine. And then the financeers and super rich hijacked the democracies and sucked all the money out of the system. Post World War II Europe was literally a Utopia for a few decades after World War Two. A whole generation got a free education, free health care, got good jobs, and had a great retirement. And now there's no money for anyone. The super rich have it all.

number6 number6 2 days ago
One other thing the super rich did in Europe when they formed the Euro was to quietly bump up the immigration rates to all the member countries by stunning amounts. A lot of the cities in Europe can't absorb the numbers of people flooding in. You can't create jobs fast enough. That's the biggest reason why there were all those riots outside of Paris a few years back. Nobody has jobs.
Overpopulation. But the rich and the financial institutions thrive off of what they are calling, "violent growth."

Jed Clampett 2 days ago
This is the Conservative way, steal all you can and blame (insert any liberal here).

JackWardenIII Jed Clampett 2 days ago
AP bugging
move along , nothing to see here ?!?!?!?

ayn_rand_welfare_queen JackWardenIII a day ago
IRS: Congress shifts the problem of campaign financing onto the IRS. Yeah, that was never going to work.
Benghazi: Look, I know you guys want to go to war with Iran, but, this won't do it.
AP controversy: This is the first administration to pursue its critics?? Oh wait, every recent administration has. And that fourth amendment was gutted under the Cheney administration anyway.
More manufactured crisis. You can stand around wailing or wonder what end is served in each instance?

Bill Rice 2 days ago
Matt might have a monopoly on the biggest story (ies) of our lifetimes - almost all markets are rigged. I'm increasingly becoming convinced this is case with silver and gold, where record demand for precious metals is somehow resulting in prices that are plummeting. The "watch dog regulating agencies" a might very well be complicit or just cowardly. good to see there's at least one journalist who is doing the profession's most important job. Look forward to future reporting and commentary.

reallybearish Bill Ricea day ago
These market riggings can be used to bribe politicians and market regulators. No reason to have a bag man pass unmarked 100 dollar bills in brown paper bags in the middle of the night. Just signal when the markets are ready to be manipulated, and when to buy commodities futures (in your own secret accounts). Poof! Make tens of thousands in a few seconds, sell the contracts and take a vacation on the Riviera. Do this over and over for years to come and go for a beach house in the Hamptons.

sgtdoom Bill Rice 2 days ago
But of course. With futures contracts, and naked swaps, and the DTCC's Stock Borrow Program, and opaque hedge funds with trillions of dollars at their beck and call (both semi-real and structured finance, i.e., credit derivatives) everything can be and is rigged.

number6 2 days ago
What's amazing here is that the offices have actually been raided and someone's actually doing something bout the price fixing. I'm not shocked that the prices are fixed, but that some government is actually doing something. On Max Keiser not too long ago they discussed the results of a U.S. govt. study that said that the oil spike we had a few years back--where the price of oil went over 100 dollars a barrel for the first time, and we were all spending close to 5 bucks a gallon in America, and the economy went down the toilet--that that was all completely fixed. It was all a fraud. A handful of people got ridiculously wealthy from that. Tens of thousands of gardeners and other small businesses across America went under--because they couldn't make a profit with the high fuel prices. It was all a sham. And of course, no one has ever been prosecuted and no one will go to jail. Thanks for posting this Matt. Christ, this should be on the front page of the L.A. Times. Instead, we get Angelina Jolie. The world is so F'd up.

sgtdoom number6 2 days ago
Regarding the oil price speculation: mostly performed on ICE, or InterContinental Exchange by Goldman Sachs and Morgan Stanley. And who owns ICE? Why, Goldman Sachs, Morgan Stanley and the oil companies (BP, Royal Dutch/Shell, etc., plus a smaller stake by Deutsche Bank). And who is ICE buying recently?
The NYSE. And what does the NYSE own? Along with Goldman Sachs, JPMorgan Chase, and Credit Suisse, the DTCC, of course!
It's ALL rigged . . . .
Furthermore, Tens of thousands of gardeners and other small businesses across America went under... --- it goes even waaaay beyond that.
Thousands of small American businesses, which were publicly traded, were naked short sold out of business by the concentrated short selling of the hedge funds, utilizing the DTCC's Stock Borrow Program, to do a number on stocks which technically and legally couldn't even be in play (that is, the stocks were owned by the companies, and/or individual shareholders who never traded them!).