Trucker-40 --- In the first place, the Glass Steagal act never regulated speculation per se, the act regulated what types of financial institutions or business's could participate in the futures markets and other risky forms of investing. Secondly, the act was repealed in 1999. 1998 marked the lowest oil prices in the last 35 years plus they were the lowest oil prices in history when adjusted for inflation. From 1999 Oil prices averaged between $15.00 and $25.00 per barrel until mid 2003 when the price breifly hit $30.00 only to decrease back to $25 - $27.00 until the fall of 2004. Thats 5 1/2 years of documented low prices after the repeal of glass steagal. Crude prices shot drastically up from the fall of 2004, what party took control of congress in the fall of 2004? Fox news did not tell me any of this, this is all historical record.Google monthly crude oil price chart.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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