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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tomas who wrote (75775)10/7/2000 2:33:33 PM
From: Crimson Ghost  Read Replies (1) of 95453
 
I have a lot of respect for Coxe, but he has it wrong in this article.

True higher oil prices are a plus for the buck in the very short-term. But looking beyond the short-term, high oil prices will greatly accelerate the death of the dollar bull.

The combination of a strong dollar and higher oil prices is triggering heavy inflationary pressures in many overseas countries. As a consequence opposition to dollar hegemony is growing by leaps and bounds. What was once seen as a desirable stimulus to overseas economic growth is now becoming an albatross around the neck of the global economy.
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