Ann Pettifor: The Story of Money
SystemShift
00:00
The Price of Oil Is Determined by Speculation
In one week after the invasion of Ukraine by Russia, wheat commodity futures prices to a 72% degree was not linked to parties who wanted to trade in wheat. The wall of money that was aimed at these finite resources, oil and grain, energy and grain, caused those prices. I always like to explain this in terms of Elon Musk, Bill's motor cars. He fixes the price of the motor car, whether he sells it in London or whether he sell it in Sweden or in China,. Those prices are determined by him and his firm. Poutine corn doesn't fix the price of oil nor can those powerful Saudi shakes, nor can BP, nor can Shell. They are victims of the
Transcript
Play full episode
