Goldman does it again

Last year, Goldman Sachs pulled distillates from their commodities index. This was prior to the elections. This caused lots of other funds to unload their positions in those stocks and started accelerated a big drop in gas prices. This wasn’t picked up by the press when it happened. However, some of the skeptics out there questioned the connection of Hank Paulson, CEO of Goldman, and his new position as Secretary of the Treasury.

Well, as Yogi says, “It’s like Deja Vu all over again.”, except the press picked up on this. Goldman just pulled oil way down in their commodities index. Again, the price of oil drops. The skeptics are calling the connection an attack on Iraq and Venezuela. In fact, some recent press had the headline, “US trying to strangle Iran Economically”. Crazy stuff.

The bottom line: keep an eye on GS. They know whats going on as well as drive the markets.

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