No thanks to the Arabs and OPEC members who greedily pushed the prices of oil up almost US$150 per barrel recently. The speculators jumped on the bandwagon and exploited the position and made tons of money for themselves.
The $147 per barrel of oil in return made transportation more expensive.Coupled with the shortages of food commodities like rice,wheat etc due to climatic changes and global warming increased the cost of living and hardship of billions of poor people the world over.
People lost their jobs and had to spend more are among some of the causes of the financial meltdown.
The Americans who borrowed heavily to buy houses and other goods also had to service the high interest rates on their loans and credit cards. Almost everyone in America could borrow as much as they wanted to without the necessary collateral. So when they lost their jobs they could not service their loans and cc and the banks seized their properties and auctioned them. Can you imagine how many millions homes were up for auction? The prices of properties then plummeted and the banks suddenly found themselves poorer,unable to pay their back depositors their money. Then the bubble burst and the dominoes effect took place.
Almost every sector of economy and countries are now feeling the pinch.
Now the greedy Arabs and OPEC members are also finding their earnings eroded due to the plunging oil demand.The price of oil now stands at about $67 per barrel. The covetous commodity traders are also suffering because there are now lesser demand for their products.
Who then benefited from the financial meltdown? My guess is the Wall Street Jews ,CEOs and executives of big American companies and I won't be surprise Israel too.
Billions of dollars are being secretly sent to Israel to help equip her with weapons necessary to STOP Iran from developing the nuclear bombs.
Iran will NEVER be able to achieve its ambition of possessing nuclear weapons!!!