The mechanism is really the same, the bulk of the cost of gasoline are government taxes which amount to 60 percent or even more. What does this have to do with the cost of equities? Thanks for your brilliant comment and kind words.
@backagain20101 you're right on the money. The demand for ethanol has driven up corn futures like crazy and in turn driven up the costs for any livestock prices where corn is used for feed.
They do change daily, however the stickers on your above items aren't as easily price changed as 3 or 4 road signs. And gasoline is never on sale, as it is not generally perishable, nor will it be replaced with an upgraded item..
WE ARE GETTING HOSED HERE IN CA, 2.70+ WHY AND WTF IS GOING ON, HOW COME, THE PRICES ARE DROPPING ALL OVER, TANKERS ARE LINED UP ALL AROUND THE WORLD, FULL, CANT STORE IT ON LAND, NO ROOM, WE NEED ANSWERS
All I know for sure, is that when fuel prices go up---"artificially" or not---the cost-pricing of all delivered goods goes up; including those goods and services purchased/used by small businesses.The result is that small businesses with a small "locked-in" profit margin cannot expand; or, in many cases, cannot remain profitable (stay in business) with that increase in production costs. Same is true of electricity. Especially when the government ARTIFICIALLY raises the price thru regulation.
Travis. Two things, the prices of everything ARE higher. Two, there are different type of consumer products, take a macroeconomics class at your local community college...supplementary products, complementary products, etc.
The Bernank, the Yellen, and the Powell understand as much about managing the money supply as the robots taking over the factories understand about making stuff. The Greenspan did a wonderful job engineering this mess.
So explain why we in Australia, with a RISING dollar have copped the higher fuel prices? It is the companies like Shell, BP and the like, who also have a vested interest in the on-sale through gas stations who drive the price up through putting fear into the market. Add to this whenever the price of crude goes up, the price at the bowser instantly rises, when the price of crude drops, the price at the bowser stays the same, using the fictional claim that they paid a higher price for that gas.
Early in the year, the value of dollar was rising, and gas prices were going up also. Prices are about supply and demand and that's mostly it. The prices are high because we peaked on conventional oil a few years ago, and China and India demand is going up and up.
Keep in mind that the EPA redefined mileage testing in 2008 to using methods that better represent the actual mileage a car would see. For example, a Honda Civic from 1984 may have been rated 35/44, but if it were tested today, the ratings would be more like 85% of that 30/37. If you bought a Civic today though, the ratings are approximately 25/36, not bad since the car is also 20% bigger in cabin volume and has double the horsepower of the 1984 model. Consumers want more volume & hp.
"not gone up as much" doesn't mean "not gone up". Gas prices will go up in any country where a floating dollar value that is devalued by further issuance of money is used. Just because the Aussie dollar is doing better than the US Dollar at the moment doesn't mean both aren't doing poorly.
It's not only about the value of the dollar. Fact is that worldwide demand is increasing exponentially and is a factor that far exceeds the value of the dollar.Gas prices affect the economy and, so, the "line" is similar.
Well, I believe because those are necessities. The Government forces (even when they say they don't) those companies to keep their prices acceptable. Also the taxes on gasoline is used on public roads so when the prices goes up the more money they can spend on roads and such. But taxes on electric, water and gas do not go to improve their lines.
Sorry to watch this so late but as always...thanks for your insights and all the knowledge including that snack sales support gas stations...who knew! best, Kiki
Riddle me this Batman:Howcome the price of gas (oil) changes daily, but my clothing (cotton) Orange juice (oranges), beef (cattle), bacon (pork bellies), Frito Lay chips (corn) Cereal (wheat) don't change daily. They are all dollar based and can be traded with 'futures'- just like oil ? Why is there NEVER a 'sale' on gasoline ?
There isn't no inflation but rather, there is little inflation. Last year, inflation was 2.73%. Also, inflation is not entirely caused by high demand. As manufacturing and shipping costs increase, manufacturers and retailers can be forced to raise their prices to compensate.
By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It's simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they'll be able to sell it later on at the future price.
America will never lower its pride of V8 despise high gas prices. I drive 2002 dodge ram 4.7L V8 and 1973 ford LTD 6.6L V8. both are 12 mpg and im proud to say that!
@PontifexMagnanimous I buy from Japan. Exchange rate used to be 75 yen to the dollar. Now it's 120+. Pray tell, from what glorious corner of the continental US does your mighty dollar hail from?
This is what is really scary. The government is never held accountable for the incompetence that is rampant. He is not the only CFTC official putting out bad information. If you would really understand how the futures market works you will see how what they say is absolute nonsense. The futures market originated in Japan as a way to stabilize prices in commodities. Without the futures market prices would jump all over the place much worse than it is now.
Though the video is thought provoking, there are some major logical errors here: 1. "Bernanke said QE makes stock prices go up" - Bernanke said lots of things, eg subprime was all under control, the fundamentals were sound, etc. Why would this statement of his be true? 2. While there is a clear correlation between stock and gas prices it's not clear that QE caused it. A correlation is just a correlation, doesn't imply causality. Japan did a lot of QE yet their stock market kept going down.
I disagree as do many others. Excessive speculation can influence the spot price by creating the perception that the price of oil will rise. . When spot prices fall short of forward ones, this condition is known as ‘backwardation’, and often occurs when buyers are so desperate to buy that they eventually drive up the spot price. There are many scenarios in which the spot price can be driven up.
@PontifexMagnanimous Six years ago, a US 1oz Silver Coin would buy almost 4 gallons of gas.......Today, that same coin will purchase almost 11 gallons of gas. Silver has retained it's value as the Federal Reserve prints more paper money until paper money is worthless. I totally encourage any incontrovertible proof to the contrary.
You're referring to the CPI, which looks at price increases the government decides are important. Real inflation is an increase in the money supply. The current usage of inflation disguises the real problem, which is government control of the money supply.
Um...not quite: The actual culprits are the speculators freed up by the Commodity Futures Modernization Act of 2000. Previously, petroleum futures were held primarily by those actually trading in the product. As a result of the CFMA, an estimated 80% of futures now are held by speculators. The cartoon is correct that the value of the dollar is part of the speculator's strategy, but so are unrealistic reactions to world events that have nothing to do with the actual supply and demand for oil.
The Federal Reserve's printing press is useless when most of the money supply is credit. It's completely different from Zimbawe. The banks first make the loans and then get the reserves in the open market. This is what happens empirically. There are lots of books out there and most of them are useless. For every book you have another one that says the opposite. A book is no substitute for thinking.
this video is exactly right on. In 1948, gasoline was less than $0.25 per gallon. If you take the 2 dimes (1948 silver dimes) and figure their melt value it comes to $5.02 today. The Gubmint is causing gas prices to go up with fiat currency. What's in your wallet?
Take corn for instance. A farmer has an idea how much he would like to sell his corn for and if the futures market offers that price then he will sell. Later if for some reason there is an abundance of corn harvest and the prices go down then the buyer of the contract loses money, if the prices go up then he will make money. In the end the farmer got a fair price but the market is what controls what is called the spot price which has nothing to do with the futures market or speculators.
They do. Water and electricity are an unlimited resource. Water and electricity are forever. It costs corporations next to nothing to produce these two resources. If you are a home owner, your electric bill is most likely the most expensive bill you have for your home.
The prices of gasoline have been always high, even before Quantitative Easing. There is no relation to supply and demand, it wasn't long ago they blamed it on the lack of refineries, but they fail to tell you they haven't built one since the 70's. Its controlled by a monopoly, they look out the window and set prices. You tend to think we live in a capitalist system gone wrong, in fact we don't even have that.
What are you talking about? The Aussie central bank issued well over 90 Billion in new money just last year. It's done similar most every year. M1 went up over 25 Billion alone.
Great video! People are starting to finally awaken to the hidden tax of inflation. It's theft. A graph of gas prices in dollars vs gas prices in silver would drive home the point of this video even more. Gasoline costs half as much when denominated in silver as it did when the US went completely off the gold standard on August 15, 1971. Yes, priced in terms of non-fiat commodities, gasoline prices have been falling. Wiki "history of the united states dollar" for the shocking details.
@Antiks72 Actually speculators aren't even driving up prices much. It is due to simple supply and demand. There is decreasing production, increased demand, and instability in the oil regions, this is a classical macroeconomic explanation for the increase in prices, and coincides perfectly with the increase in prices starting at the beginning of the Iraq War. Austrian commentators don't understand basic economics, but live in a fantasy world which influences their flawed theories.
sorry to be so offtopic but does anyone know of a trick to get back into an instagram account?? I was dumb forgot the login password. I love any tricks you can offer me
@Kingsley Caspian Thanks for your reply. I got to the site through google and im trying it out atm. Looks like it's gonna take quite some time so I will reply here later with my results.
The Federal Reserve has the printing press. The banks can only lend money if somebody gives it to them to loan out.. they can't create it themselves. Maybe you should read the book "The Creature from Jekyll Island: A Second Look at the Federal Reserve" to see how this system works..
Oil prices rise and gas prices rise so Yes as the dollar drops you pay more for gasoline. The main reason is because it is foreign. All domestic products have low inflation.
If the price of gas is objectionable, then why not utilize price controls? Price controls will bring the price of gas down to reasonable levels for working Americans.
Speculators are buying 33 times the amount of oil that's available through paper bets that they place on future and derivative exchanges. They have nothing to do with the oil industry other than placing bets on it. That's why gas prices are prob 30 to 40 percent higher than they should be.
Well that is somewhat correct; a better way to explain it is that everything is dependent and based on oil since oil is used in every possible good and service imaginable whether it is used in making said goods or used in the transportation of the good. You can say that the American Dollar's alternative name "the Petrol Dollar" is very fitting since at the current moment you have to use the US Dollar to buy oil. When that changes we are so fucking fucked.
We haven't been a full gold standard since 1913 and went completely off of it in the 70's. That's when inflation took off like a bat out of hell. The financial crisis happened because banks were forced to lend to people they knew couldn't possibly keep up their mortgage payments. And for them to loan that money out, it had to be created. And that came from the Fed. I believe it was done on purpose to collapse the system. I think they're trying to get rid of the dollar as the reserve currency...
I suspect the video oversimplifies the profit structure for gas stations somewhat, but even so, if you can make money selling snacks and drinks (and you can!), you will probably sell more by either selling gas or showing movies (same business model).
The government can still borrow, devalue and confiscate gold. Devaluing is the same as printing. Besides in any fractional reserve banking system credit is created out of thin air. So a gold standard doesn't solve any fundamental problems.
There is no conspiracy to raise gas prices, just the geology of a finite resource that depletes in a bell-curve. U.S. oil production peaked in 1970 and global oil production probably peaked in 2006. Nature has limits! The claim at 0:50 that supply is "so high..." ignores that U.S. demand has slackened due to the recession, which was triggered by tight supplies originally (a vicious cycle). Supply is only "high" relative to current demand. See: Peak Oil, EROEI, net energy (and similar terms)
As for stability in the "Middle East." There was a benevolent rule under Salah ad-Din before Christian crusaders came and started killing and conquering everyone who didn't have the same beliefs as their own. Then, after the crusades, they experience war no more often than any other nation. When the 50's and 60's came and people discovered the potential for oil, the US came in and caused political strife in SA and Israel to cause an unstable gov with no central control over their own oil market.
I already told, the banking system creates money by loans. Even Federal Reserve notes are backed by IOUs. There is nothing in the current system but debt. As long as the banking system is a train wreck QE cannot create inflation. Prices go up because of increasing regulation, taxes and demand for food and basic materials from Asia. Not because of QE.
Mate, the Aussie dollar is the ONLY currency in the world which was not belted for six by the GFC and has MAINTAINED it's level, without false propping up by issuing of more bills. There is NOT reason for us to be paying such high prices. For some reason (historically) the price of crude is based on $US, as the US dollar was the "strongest". It should be "bargained" by individual countries. Then those who are gas guzzlers will be forced to pay their way and not be subsidised by others.
There's one thing missing in this video. $4 per one gallon of gasoline is still probably the lowest price you'll ever find in any advanced economy.. World supply of oil is diminishing, no doubt about that, and the americans still think they can pay such a low price.. But it's not sustainable in the long term.. Just look at europe, the average price is 1.45 euros per liter, which is approximately $7.22 per gallon.. And it's steeply rising..
If the Fed is in control how did the financial crisis of 2008 happen and why can't they get the inflation they want now? They are not in control. The markets have a will of their own. There were periods of inflation during the gold standard too when credit expanded. The Fed is no more powerful than the Wizard of Oz. Their interest rates policy just follows short term treasury rates. They don't even control that.
So a convenience store owner spends a million bucks to put in gas pumps, bury gas tanks, and hassle with EPA, just to make a few bucks selling snacks? This is considered a successful business model? Perhaps the oil company pays for installation of the super expensive pumps and tanks? Otherwise, who would get into the business.
the DPF and the catalyst on a diesel along with THE SHITTIEST fuel i have ever gotten from a pump, have destroyed the cheap and clean efficiency of a diesel, and it is intentional, anything and everything to destroy an economy. I might just have to bite the bullet and get a propane kit for my duramax if the larger turbo does not get me to my targeted fuel consumption. The amount of fuel additives i have to add in the tank alone to get decent and clean operation that never was necessary before
No, no bank was ever forced to participate in it. Lots of regional banks didn't. The legislation gave the participating banks an unfair advantage but if you didn't want to comply you didn't have to. A stupid law that encouraged stupid banks to make stupid loans. Any bank owner with brains would have stayed out of it.
1.Markets do not always fall to equilibrium,unless you refer to crashes as equilibrium.2.When ever new sources of crude come on to the market,Opec cuts back its production,this is regardless of the dollars standing. The technics used in these videos to sway young minds is appalling !
"Has there ever not been instability in the Middle East?" This statement is so ignorant it's unbelievable. When people use the phrase, "Middle East," it tells me that they have never been over there or even know what goes on. They don't know which nations poses oil or how even who we were at war with over there. Generally, people who use the term, "Middle East," do so because they do not know what place in the , "MIddle East," they want to refer to specifically.
What the purposes are or what you're lead to believe and what actually goes on are different things sometimes. Michael Greenberger former Director of the Division of Trading and Markets at the Commodity Futures Trading Commission (CFTC). , was responsible for supervising exchange traded futures and derivatives. He says the same things I have been saying, excessive speculation and manipulation are a problem and should not be tolerated. I'm sure his expertise greatly outweighs yours or mine.
It's crazy that even ten years later this video still holds strong! I wish the rest of America saw this one coming!!
It’s like listening to George Carlin talk about what’s wrong with the world in the 80s
haha that line was so funny "that graph is so simple even an economist knows whats going on"
"This chart makes things so simple, even an economist can understand what's going on"
It's a shame you don't make videos anymore
2022 and this video helps me understand like a toddler.
hear hear
hey, hey good to see you back making wise videos
It's good to see someone being consistent! :D
The mechanism is really the same, the bulk of the cost of gasoline are government taxes which amount to 60 percent or even more. What does this have to do with the cost of equities? Thanks for your brilliant comment and kind words.
@backagain20101 you're right on the money. The demand for ethanol has driven up corn futures like crazy and in turn driven up the costs for any livestock prices where corn is used for feed.
They do change daily, however the stickers on your above items aren't as easily price changed as 3 or 4 road signs. And gasoline is never on sale, as it is not generally perishable, nor will it be replaced with an upgraded item..
WE ARE GETTING HOSED HERE IN CA, 2.70+ WHY AND WTF IS GOING ON, HOW COME, THE PRICES ARE DROPPING ALL OVER, TANKERS ARE LINED UP ALL AROUND THE WORLD, FULL, CANT STORE IT ON LAND, NO ROOM, WE NEED ANSWERS
Democrats ruin everything for the middle class. I voted NO to another local gas tax increase but I'm sure I will lose in that one as usual lol.
Loved it, thank you.
All I know for sure, is that when fuel prices go up---"artificially" or not---the cost-pricing of all delivered goods goes up; including those goods and services purchased/used by small businesses.The result is that small businesses with a small "locked-in" profit margin cannot expand; or, in many cases, cannot remain profitable (stay in business) with that increase in production costs. Same is true of electricity. Especially when the government ARTIFICIALLY raises the price thru regulation.
Travis. Two things, the prices of everything ARE higher. Two, there are different type of consumer products, take a macroeconomics class at your local community college...supplementary products, complementary products, etc.
The Bernank, the Yellen, and the Powell understand as much about managing the money supply as the robots taking over the factories understand about making stuff.
The Greenspan did a wonderful job engineering this mess.
So explain why we in Australia, with a RISING dollar have copped the higher fuel prices? It is the companies like Shell, BP and the like, who also have a vested interest in the on-sale through gas stations who drive the price up through putting fear into the market. Add to this whenever the price of crude goes up, the price at the bowser instantly rises, when the price of crude drops, the price at the bowser stays the same, using the fictional claim that they paid a higher price for that gas.
Gas prices are a little more complex than prices on other commodities, including the value of the dollar.
Early in the year, the value of dollar was rising, and gas prices were going up also. Prices are about supply and demand and that's mostly it. The prices are high because we peaked on conventional oil a few years ago, and China and India demand is going up and up.
Keep in mind that the EPA redefined mileage testing in 2008 to using methods that better represent the actual mileage a car would see. For example, a Honda Civic from 1984 may have been rated 35/44, but if it were tested today, the ratings would be more like 85% of that 30/37. If you bought a Civic today though, the ratings are approximately 25/36, not bad since the car is also 20% bigger in cabin volume and has double the horsepower of the 1984 model. Consumers want more volume & hp.
"not gone up as much" doesn't mean "not gone up". Gas prices will go up in any country where a floating dollar value that is devalued by further issuance of money is used. Just because the Aussie dollar is doing better than the US Dollar at the moment doesn't mean both aren't doing poorly.
It's not only about the value of the dollar. Fact is that worldwide demand is increasing exponentially and is a factor that far exceeds the value of the dollar.Gas prices affect the economy and, so, the "line" is similar.
Well, I believe because those are necessities. The Government forces (even when they say they don't) those companies to keep their prices acceptable. Also the taxes on gasoline is used on public roads so when the prices goes up the more money they can spend on roads and such. But taxes on electric, water and gas do not go to improve their lines.
Sorry to watch this so late but as always...thanks for your insights and all the knowledge including that snack sales support gas stations...who knew! best, Kiki
Riddle me this Batman:Howcome the price of gas (oil) changes daily, but my clothing (cotton) Orange juice (oranges), beef (cattle), bacon (pork bellies), Frito Lay chips (corn) Cereal (wheat) don't change daily. They are all dollar based and can be traded with 'futures'- just like oil ? Why is there NEVER a 'sale' on gasoline ?
@GameIsRigged haha..7 years ago
"this chart makes things so simple even an economist can see what is going on" epic
love this video, thanks for sharing!
The Pwice of Ceweal.
There isn't no inflation but rather, there is little inflation. Last year, inflation was 2.73%. Also, inflation is not entirely caused by high demand. As manufacturing and shipping costs increase, manufacturers and retailers can be forced to raise their prices to compensate.
By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It's simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they'll be able to sell it later on at the future price.
Great video. I sent this to my father who believes the President is to blame.
America will never lower its pride of V8 despise high gas prices. I drive 2002 dodge ram 4.7L V8 and 1973 ford LTD 6.6L V8. both are 12 mpg and im proud to say that!
@PontifexMagnanimous I buy from Japan. Exchange rate used to be 75 yen to the dollar. Now it's 120+. Pray tell, from what glorious corner of the continental US does your mighty dollar hail from?
This is what is really scary. The government is never held accountable for the incompetence that is rampant. He is not the only CFTC official putting out bad information. If you would really understand how the futures market works you will see how what they say is absolute nonsense. The futures market originated in Japan as a way to stabilize prices in commodities. Without the futures market prices would jump all over the place much worse than it is now.
Though the video is thought provoking, there are some major logical errors here:
1. "Bernanke said QE makes stock prices go up" - Bernanke said lots of things, eg subprime was all under control, the fundamentals were sound, etc. Why would this statement of his be true?
2. While there is a clear correlation between stock and gas prices it's not clear that QE caused it. A correlation is just a correlation, doesn't imply causality. Japan did a lot of QE yet their stock market kept going down.
I disagree as do many others. Excessive speculation can influence the spot price by creating the perception that the price of oil will rise. . When spot prices fall short of forward ones, this condition is known as ‘backwardation’, and often occurs when buyers are so desperate to buy that they eventually drive up the spot price. There are many scenarios in which the spot price can be driven up.
4:33 - "So simple even an economist can understand what's going on." ROFL!
@PontifexMagnanimous Six years ago, a US 1oz Silver Coin would buy almost 4 gallons of gas.......Today, that same coin will purchase almost 11 gallons of gas. Silver has retained it's value as the Federal Reserve prints more paper money until paper money is worthless. I totally encourage any incontrovertible proof to the contrary.
You're referring to the CPI, which looks at price increases the government decides are important. Real inflation is an increase in the money supply. The current usage of inflation disguises the real problem, which is government control of the money supply.
I wish you would make more videos.
Um...not quite: The actual culprits are the speculators freed up by the Commodity Futures Modernization Act of 2000. Previously, petroleum futures were held primarily by those actually trading in the product. As a result of the CFMA, an estimated 80% of futures now are held by speculators.
The cartoon is correct that the value of the dollar is part of the speculator's strategy, but so are unrealistic reactions to world events that have nothing to do with the actual supply and demand for oil.
The Federal Reserve's printing press is useless when most of the money supply is credit. It's completely different from Zimbawe. The banks first make the loans and then get the reserves in the open market. This is what happens empirically. There are lots of books out there and most of them are useless. For every book you have another one that says the opposite. A book is no substitute for thinking.
this video is exactly right on. In 1948, gasoline was less than $0.25 per gallon. If you take the 2 dimes (1948 silver dimes) and figure their melt value it comes to $5.02 today. The Gubmint is causing gas prices to go up with fiat currency. What's in your wallet?
Take corn for instance. A farmer has an idea how much he would like to sell his corn for and if the futures market offers that price then he will sell. Later if for some reason there is an abundance of corn harvest and the prices go down then the buyer of the contract loses money, if the prices go up then he will make money. In the end the farmer got a fair price but the market is what controls what is called the spot price which has nothing to do with the futures market or speculators.
They do. Water and electricity are an unlimited resource. Water and electricity are forever. It costs corporations next to nothing to produce these two resources. If you are a home owner, your electric bill is most likely the most expensive bill you have for your home.
The prices of gasoline have been always high, even before Quantitative Easing.
There is no relation to supply and demand, it wasn't long ago they blamed it on the lack of refineries, but they fail to tell you they haven't built one since the 70's. Its controlled by a monopoly, they look out the window and set prices. You tend to think we live in a capitalist system gone wrong, in fact we don't even have that.
so true
The only thing that chart proves is that companies are more profitable when the gas price goes down. That's pretty basic.
I'm curious, where do you think money comes from? Does it just magically appear or does somebody create it?
The oil companies are doing what every big company does. They will make you pay as much as they think they can get out of you.
What are you talking about? The Aussie central bank issued well over 90 Billion in new money just last year. It's done similar most every year. M1 went up over 25 Billion alone.
If gas prices are high due to the weaker value of our currency, then why isn't the price of everything higher?
I'm not Brit xP. I think petrol is so expensive here because they put a lot of taxis on it.
Great video! People are starting to finally awaken to the hidden tax of inflation. It's theft.
A graph of gas prices in dollars vs gas prices in silver would drive home the point of this video even more. Gasoline costs half as much when denominated in silver as it did when the US went completely off the gold standard on August 15, 1971. Yes, priced in terms of non-fiat commodities, gasoline prices have been falling.
Wiki "history of the united states dollar" for the shocking details.
I liked the voices in the Fed cartoon better. Perhaps they grew on me. Can you make this one with those voices?
BINGO. It's inflation people. Good Video.
Bernanke and 3 of his cronies voted down this video.
@Antiks72 Actually speculators aren't even driving up prices much. It is due to simple supply and demand. There is decreasing production, increased demand, and instability in the oil regions, this is a classical macroeconomic explanation for the increase in prices, and coincides perfectly with the increase in prices starting at the beginning of the Iraq War. Austrian commentators don't understand basic economics, but live in a fantasy world which influences their flawed theories.
Well its cheap now (last year) ..whats curious is why lowering gas prices has been blamed for stock markets 'easing'
sorry to be so offtopic but does anyone know of a trick to get back into an instagram account??
I was dumb forgot the login password. I love any tricks you can offer me
@Frederick Trenton instablaster =)
@Kingsley Caspian Thanks for your reply. I got to the site through google and im trying it out atm.
Looks like it's gonna take quite some time so I will reply here later with my results.
@Kingsley Caspian It did the trick and I now got access to my account again. Im so happy:D
Thank you so much, you saved my ass!
@Frederick Trenton glad I could help :D
How many questions are asked?
The Federal Reserve has the printing press. The banks can only lend money if somebody gives it to them to loan out.. they can't create it themselves. Maybe you should read the book "The Creature from Jekyll Island: A Second Look at the Federal Reserve" to see how this system works..
Oil prices rise and gas prices rise so Yes as the dollar drops you pay more for gasoline. The main reason is because it is foreign. All domestic products have low inflation.
If the price of gas is objectionable, then why not utilize price controls? Price controls will bring the price of gas down to reasonable levels for working Americans.
Speculators are buying 33 times the amount of oil that's available through paper bets that they place on future and derivative exchanges. They have nothing to do with the oil industry other than placing bets on it. That's why gas prices are prob 30 to 40 percent higher than they should be.
Well that is somewhat correct; a better way to explain it is that everything is dependent and based on oil since oil is used in every possible good and service imaginable whether it is used in making said goods or used in the transportation of the good. You can say that the American Dollar's alternative name "the Petrol Dollar" is very fitting since at the current moment you have to use the US Dollar to buy oil. When that changes we are so fucking fucked.
Thanks!
We haven't been a full gold standard since 1913 and went completely off of it in the 70's. That's when inflation took off like a bat out of hell. The financial crisis happened because banks were forced to lend to people they knew couldn't possibly keep up their mortgage payments. And for them to loan that money out, it had to be created. And that came from the Fed. I believe it was done on purpose to collapse the system. I think they're trying to get rid of the dollar as the reserve currency...
No, the Yen actually became stronger when they started QE and consumer prices fell even faster.
I suspect the video oversimplifies the profit structure for gas stations somewhat, but even so, if you can make money selling snacks and drinks (and you can!), you will probably sell more by either selling gas or showing movies (same business model).
2021 checking in.
The government can still borrow, devalue and confiscate gold. Devaluing is the same as printing. Besides in any fractional reserve banking system credit is created out of thin air. So a gold standard doesn't solve any fundamental problems.
How much of the cost of gas is Govt. Tax?
...this chart makes things so simple even an economist can understand it. But probably still not a business journalist.
There is no conspiracy to raise gas prices, just the geology of a finite resource that depletes in a bell-curve. U.S. oil production peaked in 1970 and global oil production probably peaked in 2006. Nature has limits!
The claim at 0:50 that supply is "so high..." ignores that U.S. demand has slackened due to the recession, which was triggered by tight supplies originally (a vicious cycle). Supply is only "high" relative to current demand.
See: Peak Oil, EROEI, net energy (and similar terms)
As for stability in the "Middle East."
There was a benevolent rule under Salah ad-Din before Christian crusaders came and started killing and conquering everyone who didn't have the same beliefs as their own. Then, after the crusades, they experience war no more often than any other nation. When the 50's and 60's came and people discovered the potential for oil, the US came in and caused political strife in SA and Israel to cause an unstable gov with no central control over their own oil market.
I already told, the banking system creates money by loans. Even Federal Reserve notes are backed by IOUs. There is nothing in the current system but debt. As long as the banking system is a train wreck QE cannot create inflation. Prices go up because of increasing regulation, taxes and demand for food and basic materials from Asia. Not because of QE.
these bears are smarter than the average man here in holland..... dear god
In Italy, the cost of a gallon of gas is $10 so where is the argument here?
Mate, the Aussie dollar is the ONLY currency in the world which was not belted for six by the GFC and has MAINTAINED it's level, without false propping up by issuing of more bills. There is NOT reason for us to be paying such high prices. For some reason (historically) the price of crude is based on $US, as the US dollar was the "strongest". It should be "bargained" by individual countries. Then those who are gas guzzlers will be forced to pay their way and not be subsidised by others.
There's one thing missing in this video. $4 per one gallon of gasoline is still probably the lowest price you'll ever find in any advanced economy.. World supply of oil is diminishing, no doubt about that, and the americans still think they can pay such a low price.. But it's not sustainable in the long term.. Just look at europe, the average price is 1.45 euros per liter, which is approximately $7.22 per gallon.. And it's steeply rising..
If the Fed is in control how did the financial crisis of 2008 happen and why can't they get the inflation they want now? They are not in control. The markets have a will of their own. There were periods of inflation during the gold standard too when credit expanded. The Fed is no more powerful than the Wizard of Oz. Their interest rates policy just follows short term treasury rates. They don't even control that.
The Community Reinvestment Act was used to forced banks to make bad loans.. so the story goes..
Hint: gas prices are rising everywhere. The state in the middle east could be the problem, and the threat of war.
So a convenience store owner spends a million bucks to put in gas pumps, bury gas tanks, and hassle with EPA, just to make a few bucks selling snacks? This is considered a successful business model? Perhaps the oil company pays for installation of the super expensive pumps and tanks? Otherwise, who would get into the business.
the DPF and the catalyst on a diesel along with THE SHITTIEST fuel i have ever gotten from a pump, have destroyed the cheap and clean efficiency of a diesel, and it is intentional, anything and everything to destroy an economy. I might just have to bite the bullet and get a propane kit for my duramax if the larger turbo does not get me to my targeted fuel consumption. The amount of fuel additives i have to add in the tank alone to get decent and clean operation that never was necessary before
No, no bank was ever forced to participate in it. Lots of regional banks didn't. The legislation gave the participating banks an unfair advantage but if you didn't want to comply you didn't have to. A stupid law that encouraged stupid banks to make stupid loans. Any bank owner with brains would have stayed out of it.
1.Markets do not always fall to equilibrium,unless you refer to crashes as equilibrium.2.When ever new sources of crude come on to the market,Opec cuts back its production,this is regardless of the dollars standing. The technics used in these videos to sway young minds is appalling !
Thx great video
Can someone please make a video titled: "RX Drug Shortages and the FDA Explained"?
That's not what I remember... hey, did you know that red is blue?
@beancube2010 Thank you for your comment Muhammed
llo I love when they say "The Bernanke"
I think these creatures have thing for each other,moving closer all the time .
Woof Grung lmfao
...the good news is we still have not reached inflation levels of Zimbabwe.
"Has there ever not been instability in the Middle East?"
This statement is so ignorant it's unbelievable. When people use the phrase, "Middle East," it tells me that they have never been over there or even know what goes on. They don't know which nations poses oil or how even who we were at war with over there. Generally, people who use the term, "Middle East," do so because they do not know what place in the , "MIddle East," they want to refer to specifically.
Not everything is right. Also in Europe prices are flying higher and are 2 times more expensive then in the US
oooh oooh! tell them about how Obama refuses to let us dig for our own oil in the US!!
Where are the 6 dollar gas prices? I'm in California and just paid $3.70/gal ......
They do go up in price. Oil has alot more fundamentals and technicals at play then the rest of these comods
According to the video, that would have no effect, because supply is already high.
What the purposes are or what you're lead to believe and what actually goes on are different things sometimes. Michael Greenberger former Director
of the Division of Trading and Markets at the Commodity Futures Trading
Commission (CFTC). , was responsible for supervising exchange traded
futures and derivatives. He says the same things I have been saying, excessive speculation and manipulation are a problem and should not be tolerated. I'm sure his expertise greatly outweighs yours or mine.
Where can i get that stock/gas price chart?