It may someday be called "The great Tuesday Jump", with Oil and Metals all going up some 2% and Copper up some 5%. Is this normal Market movement?
One Informant (who might equally be as incompetent as this author) relayed the supposition that over $70 bn worth of new money had to enter the Markets to bring on such a rise in Market value. Study of financial reserves Worldwide indicate therefore that the Oil-rich OPEC nations are the only source of financial Capital of this magnitude inside a Two-Week Turnaround. One could ask why? The Answer states OPEC wants the high Returns for Oil, and boosting the Metals markets limits desire to transfer to alternative Energy sources, especially the price of Copper.
An Federal investigation should be initiated to identify the sources of new Cash in the Markets, but the current Bush administration is too close to both the Oil industry and the house of Saud. It will probably not be conducted until after the inaugeration of the next Administration, but this Author suspects OPEC will have lost the genial Good Will of the American People, if not their bought and paid for Government. The next Administration may be forced to eliminate all OPEC nations from Most-Favored Nation Status.
I have long suspicioned that the American People have endured forms of Monop0ly pricing in both internal and external Markets. This Author grew up inside Farm and Ranch life, and long associated with Gelding and Steer-making. Arabs and OPEC may not have to fear Anerican reaction to realized Theft, but their American Quislings may find need for caution. lgl