Do you buy stock everyday? You buy into the commodities markets everyday you wake up. That toast is from wheat traded on various exchanges including The Chicago Board of Trade. That bacon is from “lean hogs” which are traded at The Chicago Board of Trade. FCOJ stands for frozen concentrated orange juice; that glass of juice you’re drinking was traded on the New York Board of Trade.
After you’ve had breakfast, it’s time to go to work. Better stop and get some gas; that’s traded on the New York Mercantile Exchange. What will you have for lunch? How about a Big Mac. That burger is from a cow that was traded at the CBOT. In order to become a cow, he had to eat corn that was traded at the CBOT.
Fried chicken sounds good for dinner. In order to become a chicken, he had to eat corn and soybeans that were traded at the CBOT. After dinner it’s time for some relaxation. Will it be TV, music, or log in on the computer; all of those items are loaded with copper that was traded on COMEX in New York.
So you see, everyday of your life is involved with the commodities markets. The reason you didn’t know this, is for the same reason you might not know how the thermostat keeps your home at the right temperature. Since it’s worked for as long as you can remember, who cares. As a matter of fact, you hardly know it’s there. The CFTC is the “thermostat” for the commodities markets. CFTC stands for the Commodity Futures Trading Commission. It has worked like a fine Swiss watch for so many years that nobody even knows of it’s existence or what it does. They regulated commodity traders and trades in order to prevent “commodity market manipulation”. How many times have you heard Republicans say that we had too much “regulation”. That regulation was the only thing that prevented them from exploiting us.
Do you remember when you went to fill up and saw that incredible price on the pump. From that day to this day, our standard of living has gone down, while the 1% standard of living has gone up. Charts on this website http://wp.me/p2vRlu-4
are a record of how much you paid for gasoline, and when you paid it. No one in the history of this country had ever paid that much for gasoline.
Everyone is talking about the drought, and the high prices you will have to pay for food as a result of the high grain prices. You have already been paying high prices for food as a result of the high grain prices, but nobody told you. If it’s not on TV, it didn’t happen. When you go to this website http://wp.me/p2vRlu-4 and click on “corn or soybeans”, you will discover that you paid “drought prices” for food in 08, and 2011 when there was no drought.
Now that we have a severe drought upon us, these even higher prices for food will reduce our standard of living lower than it’s ever been in many peoples lifetime. Each generation has always done better than the generation before it, up until now.
Those young “Occupy” people never had a chance; once Wall Street got involved in the commodity market manipulation, that was the end of this economy as we knew it. The depression seems to be going better than planned.