View Poll Results: Should this be ILLEGAL?

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  • YES

    7 50.00%
  • NO

    6 42.86%
  • OTHER, please explain.

    1 7.14%
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Thread: Should this be illegal?

  1. #1
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    Should this be illegal?

    When a Bank Owns 100 Oil Tankers, It Can Mess With the Price of Gas - Truthdig

    "A two-year Senate investigation of the financial sector has found that banks can meddle with the economy in new and frightening ways.
    The investigation was led by Carl Levin, D-Mich., and looked specifically at the impact of investments on the prices of certain commodities—things like oil and uranium.
    Deregulation made it possible for firms such as Goldman Sachs to outright buy commodities and commodity suppliers. For instance, Goldman owns a coal mine in Colombia. And that fleet of 100 oil tankers? It belonged at one time to Morgan Stanley, which also held 55 million barrels of oil storage. JPMorgan Chase, according to The New York Times, once owned 31 power plants."

    When a Bank Owns 100 Oil Tankers, It Can Mess With the Price of Gas - Truthdig

    Could some large energy Corporations actually be major stockholders of these same banks?

    If you have billions of dollars, what do you do with it?

    Are all billionaires actually bankers because of the nature of money?

    Bankers buy huge oil positions to control OIL prices, do they market wars to control weapons contracts?

    Why do Corporations, specifically "Fictitious entities" have more power than taxpaying citizens?

    These are the "Too Big To Fail" banks that we bailed out.

    We bail them out and they use our money to put the screws to us.

    Is banking at all levels totally crooked? Or just the Big Banks?

    Is this the kind of thing we should write our Congressman about?

    SHOULD THIS BE LEGAL?


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    Re: Should this be illegal?

    I don't think a bank should own anything except the bank.

  3. #3
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    Re: Should this be illegal?

    Quote Originally Posted by DaveFagan View Post
    When a Bank Owns 100 Oil Tankers, It Can Mess With the Price of Gas - Truthdig

    "A two-year Senate investigation of the financial sector has found that banks can meddle with the economy in new and frightening ways.
    The investigation was led by Carl Levin, D-Mich., and looked specifically at the impact of investments on the prices of certain commodities—things like oil and uranium.
    Deregulation made it possible for firms such as Goldman Sachs to outright buy commodities and commodity suppliers. For instance, Goldman owns a coal mine in Colombia. And that fleet of 100 oil tankers? It belonged at one time to Morgan Stanley, which also held 55 million barrels of oil storage. JPMorgan Chase, according to The New York Times, once owned 31 power plants."

    When a Bank Owns 100 Oil Tankers, It Can Mess With the Price of Gas - Truthdig

    Could some large energy Corporations actually be major stockholders of these same banks?

    If you have billions of dollars, what do you do with it?

    Are all billionaires actually bankers because of the nature of money?

    Bankers buy huge oil positions to control OIL prices, do they market wars to control weapons contracts?

    Why do Corporations, specifically "Fictitious entities" have more power than taxpaying citizens?

    These are the "Too Big To Fail" banks that we bailed out.

    We bail them out and they use our money to put the screws to us.

    Is banking at all levels totally crooked? Or just the Big Banks?

    Is this the kind of thing we should write our Congressman about?

    SHOULD THIS BE LEGAL?

    I am sure those with Big Business's dicks in their mouths will say "praise be the free market" as excuse for thinking it us alright for there to be such serious conflict of interests.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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    Re: Should this be illegal?

    Its called business.

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    Re: Should this be illegal?

    Quote Originally Posted by jamesrage View Post
    I am sure those with Big Business's dicks in their mouths will say "praise be the free market" as excuse for thinking it us alright for there to be such serious conflict of interests.
    Might you be specific concerning the conflict of interest?

    Thom Paine
    Remember, on the other side of that screen is a real person. ( Missouri Mule )

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    Re: Should this be illegal?

    Quote Originally Posted by CRUE CAB View Post
    Its called business.
    I don't think that is the same as BANKING. That is my objection.
    The money power of politics for sale and that is the nature of our
    system can't survive something like this. I believe a book by
    James Risen about Greed, Power, etc. addresses this issue.
    Bankers have an obligation to encourage businesses that are
    a positive impact on their locality by lending to the start ups, not
    manipulating markets to prevent start ups or tie up tanker that
    would otherwise encourage competition in the marketplace. The
    Bankers are controlling competition to control prices.

  7. #7
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    Re: Should this be illegal?

    It would be extremely foolish to suggest banks owning these things makes them more prone to "manipulation" or some other suspect intentions vs. when they are owned by other business entities or individuals. The last thing we need is yet more regulations and business limits, when will you people learn those things come with more consequence than good?
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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    Re: Should this be illegal?

    Quote Originally Posted by DaveFagan View Post
    I don't think that is the same as BANKING. That is my objection.
    The money power of politics for sale and that is the nature of our
    system can't survive something like this. I believe a book by
    James Risen about Greed, Power, etc. addresses this issue.
    Bankers have an obligation to encourage businesses that are
    a positive impact on their locality by lending to the start ups, not
    manipulating markets to prevent start ups or tie up tanker that
    would otherwise encourage competition in the marketplace. The
    Bankers are controlling competition to control prices.
    So where I work should not own equipment to further our business?

  9. #9
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    Re: Should this be illegal?

    Quote Originally Posted by CRUE CAB View Post
    So where I work should not own equipment to further our business?
    The Big Bank is going to buy all the commodities/services/transportation/equipment you use to build
    your products and squeeze out your profits. What are you going to do about it?

  10. #10
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    Re: Should this be illegal?

    Quote Originally Posted by OrphanSlug View Post
    It would be extremely foolish to suggest banks owning these things makes them more prone to "manipulation" or some other suspect intentions vs. when they are owned by other business entities or individuals. The last thing we need is yet more regulations and business limits, when will you people learn those things come with more consequence than good?
    The banks own these things to conspire to do business, by withholding the OIL for example
    until they get a nice price spike to pick your pocket. The banks are supposed to function to
    encourage business, not steal the business.

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