CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS (mparent7777_1) wrote,
CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS
mparent7777_1

Oil prices: George Soros warns that speculators could trigger stock market crash

9.45am BST

Graeme Wearden
* guardian.co.uk,
* Tuesday June 3 2008


George Soros, the billionaire hedge fund manager, will warn later today that the oil price has become a bubble that could trigger a stock market crash.

The Financial Times reported today that Soros will tell the US Senate commerce committee that oil was pushed to its recent all-time peak of $135 a barrel by a new wave of speculators.

He believes that the doubling in the price over the last year is partly due to investment institutions, such as pension funds, who are pumping money into indexes that track the cost of crude.

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Tags: economy, market, oil, soros
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