Many Americans are outraged by the outrageous gas prices that continue to rise. And of course, since the 2012 campaign started for the next election, Obama is going to tell the American people what they want to hear, whether it’s the truth or not; and believe me, it’s definitely not normally the truth. Read this from glennbeck.com:
Obama is ready to get serious about the skyrocketing oil prices. He’s not going to eliminate red tape, bureaucracy, or regulations to make drilling easier. He’s also not going to stop making deals with foreign oil companies. But he has promised to investigate potential manipulation of energy prices. But why is he ignoring the real story – the declining value of the dollar.
The LA Times reports:
As gas prices across the nation inch higher, the Obama administration will investigate the energy markets for any evidence of manipulation of oil and gas prices through the formation of a new group, the Department of Justice announced Thursday.
With the average price of a gallon of gas at about $3.84 this week, almost a dollar higher than a year ago, according to the Department of Energy, the Oil and Gas Price Fraud Working Group will search for incidents of fraud and collusion in addition to price manipulation.
However, Glenn reported that a new CNBC story has pegged the declining dollar as the source for the rising prices of not only gas, but other necessities as well. CNBC reports, “Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.”“Remember, as the President does this little DOJ thing looking for, you know, the problem of gas prices and why gas prices are so bad, the answer is the Federal Reserve, period,” Glenn said. “Your dollar is being devalued and everybody who has an ability to get out of the dollar is getting out of the dollar.”
Do you know what it means when someone says the dollar is getting weaker? It means that the Fed are printing more and more money. You know what that leads to? Inflation.
The more money we print, the more that a barrel of oil is going to cost. Check out this chart that was shown today on the Glenn Beck Program.
In case you can’t see it well, the red line is oil prices. The green line is the value of the U.S. dollar. As you can tell, it is almost a mirror image. When the dollar goes down, oil prices go up. So as Obama does this “DOJ thing,” looking for the problem of why gas prices are so bad, the answer is the Federal Reserve. Period. Oil is purchased in dollars. That’s why these Middle Eastern countries are telling the United States, “We are not going to increase production because we are already producing enough for the world’s demand. It’s not that there is not enough oil. It’s because it is sold in U.S. dollars, and your dollar is being devalued.”
The Last Generation 