georgephillip
Diamond Member
Peter Kruth claims that's the case based on filings of US Government Report FR Y-9C.
He also claims when the largest investment banks became bank holding companies their commodities investments became more transparent because they were now required to file the above report every quarter.
"The largest banks in the world now have over $4.68 trillion moving into one "trade."
Peter's alleging "The Biggest Bank Manipulation in Generations."
Oil and gold appear to be the targets.
I certainly don't have the education to evaluate these claims, but some of you posting regularly on this site do.
I do find Peter's oil scenario revealing: He asks how a bank like Goldman can predict crude oil prices will hit $90/barrel in the coming months?
"And how can they predict an oil shortage in 2011--expecting the price of crude to hit $110 a barrel?
"Simple. These institutions have practically guaranteed this will happen..because they're taking millions of barrels of oil off the market...at the same time they're trading it."
Does JP Morgan have a supertanker floating in the Mediterranean...and another off the coast of Europe each holding a million barrels? What about storage tanks in Alberta holding two million barrels? Additional tanks from South Korea to Denmark?
Is it true the three biggest banks control the equivalent of about half the entire reserves of Light Sweet Crude in the US Strategic Oil Reserve?
And it's not just crude oil.
He also claims when the largest investment banks became bank holding companies their commodities investments became more transparent because they were now required to file the above report every quarter.
"The largest banks in the world now have over $4.68 trillion moving into one "trade."
Peter's alleging "The Biggest Bank Manipulation in Generations."
Oil and gold appear to be the targets.
I certainly don't have the education to evaluate these claims, but some of you posting regularly on this site do.
I do find Peter's oil scenario revealing: He asks how a bank like Goldman can predict crude oil prices will hit $90/barrel in the coming months?
"And how can they predict an oil shortage in 2011--expecting the price of crude to hit $110 a barrel?
"Simple. These institutions have practically guaranteed this will happen..because they're taking millions of barrels of oil off the market...at the same time they're trading it."
Does JP Morgan have a supertanker floating in the Mediterranean...and another off the coast of Europe each holding a million barrels? What about storage tanks in Alberta holding two million barrels? Additional tanks from South Korea to Denmark?
Is it true the three biggest banks control the equivalent of about half the entire reserves of Light Sweet Crude in the US Strategic Oil Reserve?
And it's not just crude oil.