3 chapters across the catalog
German Gold Bullion, Oil Price Manipulation, Michael Greenberger
Reports indicate that Germany is demanding the return of physical gold bullion held in U.S. custodial accounts. The hosts discuss the disparity between paper gold and physical assets. They also touch on oil price manipulation, mentioning the "whisper number" of $75 and an upcoming interview with Michael Greenberger.
Oil Price Manipulation and City of London Autonomy
High oil prices are attributed to trading loopholes in the City of London, a unique financial entity with its own laws and mayor. The "Enron loophole" allows for excessive speculation in oil futures without the disclosure requirements typically found in US markets. The US government is reportedly attempting to pressure the City of London to adopt more transparent trading limits.
Oil Price Speculation, Enron Loophole, Tanker Shortage
Testimony from George Soros and Michael Greenberger before C-SPAN suggests that current record-high oil prices are driven by unregulated speculation rather than supply issues. Greenberger points to the "Enron Loophole" which allows investment banks like Goldman Sachs and Morgan Stanley to trade energy futures without oversight. Reports indicate oil tankers are sitting idle offshore, waiting for prices to peak before offloading.
