IG is a political action group and research body with the intent of assisting the current order draw to a close.
Written by Dorothy Gale for The Initiative Group
We have previously talked (here) about oil prices and how we expect crude oil to break $200 dollars in short order. We also mentioned it has nothing to do with middle east tensions and everything to do with the printing of money.
“Obama blames high gas price on iran” reads a recent USATODAY article.
“The main reason the gas prices are high right now is because people are worried about what’s happening with Iran,” Obama said in Oklahoma. “It doesn’t have to do with domestic oil production. It has to do with the oil markets looking and saying, you know what, if something happens there could be trouble and so we’re going to price oil higher just in case.” Stated Obama in an interview with the AAA.
Although Obama does not write his own speeches and holds all press conferences with his teleprompter (and sometimes without a flag), we will on this occasion give him the benefit of the doubt and assume he himself is the author of this half truth. He is without doubt though, a con man. Campaigning on the slogan of “change we can belive in” he was promptly handed a nobel peace prize and then began launching new wars and increasing bombings in at least three. foreign. countries. We have no reason to belive anything he says. ever. And so, when we at The IG over hear Mr Obama speaking in half-truths we suspect he is engaged spin, mixing truths with lies in order to muddle and confuse his dough eyed audience. What he says is indeed half-true, it is not domestic oil production or any other supply related factor that is to blame, as there is more oil flowing than ever and US production is at a 8 year high. What he fails to mention is that Iran (a peaceful nation) has committed no act of aggression and responded only to constant and direct provocation from the Untied States and its allies. If Obama’s words are not intentional lies, then they are certainly imperial arrogance.
The republicans shot wide on the true nature of the crisis by blaming Obama, which is of course a basic political tool, fairly straight forward and easy to understand… blame your opponent for everything and never acknowledge wrong doing.
The republicans countered with half-truths of their own and fingered regulation policies as the cause for price escalation. Failing to mention the renown FED chairmen Ben Bernanke who was appointed his second term by Obama on August 25, 2009, and has since embarked on reckless QE policies that dwarfed all others untill recently being out
printed run by the BOE the BOJ and the ECB. He is however certainly willing to play catch up, and as the forgotten crisis inevitably resumes, he will likely take lead with the third (or was it forth) central bank scramble for the print button.
Soon, gasoline prices will not be Obamas only concern…