Are oil prices rigged?
When oil prices were going up, we kept hearing about futures and how speculators were manipulating oil prices.
Prices in the futures market — and, indeed, any real-life market on a standardized good — do not form where actual supply meets actual demand; they form where perceived supply meets perceived demand. Participants in the futures market merely represent the world around them. A veil has been placed over the public's eyes, and they accept this illusion of a fair price.
Well, Time magazine online has an excellent article on how one can rig oil prices.
Enjoy.
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