Publications: Notes at the Margin

The CME Casino: Global Economy at Risk, Criminal Charges Coming? (January 24, 2022)


This report has been highly critical of the Chicago Mercantile Exchange in the past. In our April 27, 2020 issue, we explained that the negative WTI price on April 20 occurred due to the CME’s gross malfeasance. In our view, the senior officials there should have been tried for criminal misconduct. However, no criminal or administrative charges were filed. The officials got their bonuses and continued operating as before.


The same individuals are now allowing their market to drive the global economy into depression. Oil prices are surging ahead. The old school analysts at firms such as Energy Aspects, Morgan Stanley, Citicorp, and Bank of America, as well as commentators such as Bloomberg’s Julian Lee, attribute the price increases to supply and demand uncertainty. Fortunately, another Bloomberg analyst, Javier Blas, pulled back the curtain and showed the CME’s criminal culpability and the idiocy of other analysts.


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