Forum Post: Treatise 99% - ACT 1

Treatise 99%: ACT 1 Demand the repeal of Phil Gramm’s Commodity Futures Modernization Act of 2000. This will be the first step towards the destabilization of the United States and world’s economy. This modernization was a departure from the Commodity Exchange Act of 1936, which had confined commodities trading to CFTC-regulated exchanges. The GOP’s extreme banking industry deregulation opened the doors to derivatives manipulation and world oil values. The unbridled and insidious use of derivatives is recognized as the start towards the real estate bubble to burst. But in reality, it was the intentional reorganization of how oil futures were sold that allowed Goldman Sacks, Lehman Brothers, and the list goes on, to artificially inflate the value of oil. That very act, fostered by subsidized oil companies with Wall Street delivered the world into crisis. And they know it!