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Times on June 12, asking why, for six years, Chevron Texaco's "...the Federal Reserve has confirmed our Stock Market Crash stated oil reserves have risen while their production has steadily forecast by raising the Money Supply (M-3) by crisis proportions, fallen? Are we drilling more now and enjoying it less? Where is up another 46.8 billion this past week. What awful calamity do the money for drilling coming from, as oil companies buy back they see? Something is up. This is unprecedented, unheard-of shares, streamline and build up cash reserves? pre-catastrophe M-3 expansion. M-3 is up an amount that we've Duh! Big Oil isn't drilling more because they know there are _ never seen before without a crisis—$155 billion over the past 4 no more large finds out there to drill in. More drilling doesn't weeks, a $2.0 trillion annualized pace, a 22.2 percent annualized mean more supply. It means more holes in the ground. This is rate of growth!!! There must be a crisis of historic proportions what people like M. King Hubbert, Kenneth Deffeyes, Richard coming, and the Federal Reserve Bank of the United States is Duncan, Walter Youngquist, Colin Campbell, Kjell Aleklett, Jean making sure that there is enough liquidity in place to protect our Laherrére, Richard Heinberg, Julian Darley, Matt Simmons and nation's fragile financial system. The amazing thing is, the Fed's all of our colleagues have been warning about for years. actions mean they know what is about to happen. They are aware That is why I have taken such pains over the years to document of a terrible, horrific imminent event. What could it be?..." how the world's economic system is hopelessly corrupt and We have to pay for $100 (or higher) a barrel of oil somehow. absolutely incapable of telling the truth. Yet, even so, there are Why don't we just print the money? Anyone who has heard of the still signs that the thin veneer between outward confidence and damage done by inflation and hyperinflation to those least able to fear—between a half-truth which is really a lie and a whole truth cope with it should think back to Germany's Weimar Republic in which can lead to real solutions—is the 1920s. Perhaps they should also quickly dissolving. But until that look ahead to future wars, as the US Rubicon is crossed, until the Navy announced on Voice of deception and denial are overcome, America News on May 31 that it was there will be no real solution other . . deploying a US aircraft carrier battle than continued war, bloodshed and It Is what we are doing group to the Gulf of Guinea off the estate eho out which 3 in the face of it that Wet Aan cus fo it xe longer term and more humane Is mankind's greatest tiny island nations of Sio Tomé and "George Bush and Dick Cheney challenge... aUS-iendly coup. may have meant it when they said I no longer need to defend Peak that the American way of life is not Oil and Gas. My assistance on that negotiable. But it most certainly is front seems wholly unneeded. It's on life-support and being sustained doing fine all by itself. It is what we by cruelty, brute force and lies. are doing in the face of it that is mankind's greatest challenge, and is the challenge of my future The Markets Just Can't Hide It Anymore work. On April 7, J. P. Morgan hosted a two-day private conference As if to punctuate this report and remind us of the great fear call for its analysts and major investors, titled "Peak Oil: Fact or expressed by one attendee at the Berlin conference, on June 16 Fiction?" FTW secured permission to get veteran investigative CNN reported that the security chief for all oil operations in journalist Suzan Mazur on the line to listen to that conference, and northern Iraq had been assassinated in an ambush as he left for we reported on it to our subscribers. (I listened, too; see work that morning. This, but one day after another bombing of a http://www.fromthewilderness.com/free/ww3/042204_mazur_ major Iraqi pipeline. oo ail « m0 4 toa inta tha It is what we are doing in the face of it that challenge... The Markets Just Can't Hide It Anymore On April 7, J. P. Morgan hosted a two-day private conference call for its analysts and major investors, titled "Peak Oil: Fact or Fiction?" FTW secured permission to get veteran investigative journalist Suzan Mazur on the line to listen to that conference, and we reported on it to our subscribers. (I listened, too; see http://www.fromthewilderness.com/free/ww3/042204_mazur_ morgan_oil.html.) Although Morgan barely stuck a toe into the water, the mere fact that it had decided the subject was important enough to address was a watershed moment. This, even as Bloomberg and Forbes were advising their more sophisticated readership about profit opportunities and likely consequences of Peak Oil's arrival. That, of course, raised the unholy spectre of wild speculation that could cause untold human suffering as a result of price gouging. It reminded me of the recommendation of Matthew Simmons in Berlin that oil futures and speculation should require a 50% mar- gin requirement for investing in oil derivatives (futures). Finally, at long last, someone said it all in plain English on June 13, 2004. On that day, the Seattle Times published an editorial by Scott Burns titled "Oil and S&P connection points to grim news for stocks". Finally! Prior to this admission, CBS News MarketWatch issued a bul- letin on May 26, saying that US new home sales had fallen sharply in April, and that was followed soon after on May 30 by a bulletin from another source, investment consultant Robert D. McHugh, drawing attention to a sudden and dramatic increase in America's M3, credit-based, money supply (http://www.safe- haven.com/article-1597.htm): About the Author: Michael C. Ruppert, an honours graduate in political science at UCLA (1973), is a former LAPD narcotics investigator who dis- covered CIA trafficking in drugs in 1977. He is publisher/editor of the investigative newsletter, From The Wilderness. See http://www. fromthewilderness.com for additional biographical, news and subscription details (the site is mirrored at http://www.copvcia.com). On November 28, 2001, Mike gave his first post-9/11 lecture at Portland State University, Oregon, resulting in FTW's video, The Truth and Lies About 9/11, which has sold more than 10,000 copies (see review, NEXUS 9/05). Mike's new book, Truth and Lies of 9/11: America's Descent into Fascism at the End of the Age of Oil, will be available in late 2004. Mike was a speaker at NEXUS Conferences in Sydney in 2002 and Amsterdam in 2003 (video and DVD available from NEXUS offices), and many of his articles have been published in NEXUS Magazine, most recently his 2002 interview, "Colin Campbell on Oil", in 10/01. The full text of this Peak Oil article is at http://www. fromthewilderness.com/free/ww3/062104_berlin_peak.html. NEXUS * 15 is mankind's greatest AUGUST —- SEPTEMBER 2004 www.nexusmagazine.com