Obama has recently been using higher gas prices to lambast Oil companies and demand an end to Federal Subsidies to their industry.
“When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right,” Obama said.
I agree that we need to end the subsidies, but he's wrong about the source of the increased prices. The increased prices have NOTHING to do with the companies.
Yes yes yes, they ARE making profits. But that's to be expected in an industry that drives the entire economy.
If we look at gas prices compared to dollars, the price of oil is going up. But if we look at gas prices compared to real money, Gold and silver, the prices remain flat.
http://www.goldmoney.com/commentary/the … o-far.html
The recent increase in money that I've been harping about for a year plus is finally rearing its ugly head.
And what is being done about it? Nothing. We're all looking the other way and ignoring the Federal Reserves role.
Obama, buck up, look at the facts, and start blaming the Federal Reserve.
It's impossible to quintuple the money supply in under a decade and expect there to be no consequences.
Interesting Evan-- Bernie Sanders said they are forcing the Fed to reveal something in the coming months...can't remember what.
But, as far as I know, it's Sanders, Paul, Frank, Kucinich and used to be Grayson that were putting pressure on.
There needs to be more.
But remember, there are people who say "Mess with the Fed, end up Dead".
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