A remarkable piece by Dakinikat asks: Who is Andrew Hall? And is he the reason why you paid over four bucks a gallon for gas last year?
I'll summarize. Speculators -- not supply and demand -- drove wild swings in oil prices. Apparently, a key player in that speculative frenzy was Andrew Hall, who ran Citigroup's ultra-secretive energy trading unit, Phibro, LLC. Hall received $100 million in bonuses for his efforts. Yet Citigroup is funded by the American taxpayer, having received $45 billion in TARP loans.
Thus, you paid the obscene salary of the guy who rogered you at the gas pump. Think of Andy as a Jeff Gannon who charges more.
4 comments:
Day traders add no value to stocks.
Speculators add no value to commodities.
Selling stocks short adds no value.
With the need for tax revenue why not tax the "no value" crowd!!
jz
This does not surprise me in the least, I would be surprised if they weren't hard at work planning their next heist.
Citigroup is linked in with the criminal system associated with the family that I've been talking about in my posts. This also means that Andrew J. Hall including his suspicious corporate location has a more interesting flavor to offer as more of what this criminal system is all about. Just realize that greed with the amount of money promissed to Andrew J. Hall is a huge red flag we've been looking for to illuminate what this is.
Marty Didier
Northbrook, IL
Hmm, up pops Citi again (I've mentioned its Obama connections more than once here). Jeez....
Sergei Rostov
Post a Comment