May 6, 2009
I have watched the steady attacks of gangs of short sellers in the markets. I follow the markets very carefully. Last year I told an economics professor that the recession would start in July and the market headed that way, but the real crash did not start until August. I also predicted that gasoline would be under $2.00 a gallon this year in May 2008, when gas sold at $4.30 a gallon. When short sellers can insure that a value of a stock will decline and get paid by an insurance company, then a group of short short sellers can drive down that value and AIG can pay them billions. While I am commenting, I want to add to this observation. Every Wednesday the fuel report is announced and most reports show millions of barrels of crude and gasoline in surplus. This has gone on for months now, but the price keeps going up. Why? I'll bet our investment banks we bailed out are buying up all the futures instead of loaning out the money. If fuel prices get high again, then people will not have discretionary spending and the banks will fail again, but our treasury will be out of cash and we will crash. With the glut of oil on the market, gas should sell at the pumps for no more than $1.39 per gallon. Americans are very angry at Washington, and the comments that people are making sound like the French revolution. I hope you folks wake up and hear the anger of American people and not the banking lobbyist.