[lbo-talk] The Global Oil Scam: 50 Times Bigger than Madoff

W. Kiernan wkiernan at gmail.com
Fri Nov 13 17:56:43 PST 2009


Michael Perelman wrote:

>

> Actually, all participants can be winners during the

> artificial buildup of prices. You sell to me for 100;

> I sell back to you for 105 & then buy it back at 110.

Not consumers, who buy gasoline at $4.00 a gallon and then burn it all up driving to work, and 1500 s.f. houses on an eighth-acre for $200,000 that they intend to live in rather than resell at $250,000. They also get a pounding, though not as bad a one as the guy left standing when the music stops. (That's a Florida real-estate price, Californians and Manhattanites scale up accordingly.)

yrs wdk



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