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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Raymond Duray who wrote (4412)8/26/2001 11:36:21 PM
From: John Pitera  Read Replies (1) of 33421
 
Hi Ray, I feel very strongly that the reason that Oil went up in the 72-73 time period was due completely to the
depreciation of the US Dollar, which was occurring in the late 1960's and in 1970. And going off of the gold
standard, and the expansion of the Money Supply lead to the generalized price inflation we saw.

. Five months later, Robert Mundell, who had been on the faculty with Laffer at the University of Chicago made his famous prediction that we "would soon see a dramatic rise in the price of oil and thence all commodities

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