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".
by rakuba6 years ago
Does Existence of the Federal Reserve Contradict Free Market?
by Gary Anderson8 years ago
This guy is or was high up in the Fed. The fed is a PRIVATE bank, despite the lie on their website. The fed is owned by private stock and the US government owns none of that private stock. ...
by RottingNation9 years ago
When analyzing why gas prices are too high I can to one conclusion: its the governments fault. They start unnecessary overseas wars, make 40 cents per gallon profit, and subsidize illogical "alternative...
by GA Anderson2 years ago
Here is what the Federal Reserve describes as its charter:" The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was...
by James Smith5 years ago
http://www.unelected.org/audit-of-the-f … t-bailouts"What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere...
by Matthew P Holbert3 years ago
As above so below.From this perspective, the world is a heaven or a hell depending on how you look at it, and more importantly the steps you take to change things. One of the first and best places to change is the...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.