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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Claude Cormier who wrote (50619)1/21/2006 1:49:11 PM
From: Tommaso  Read Replies (3) of 110194
 
>>>>Can you transfer me $10K of oil value within 5 minutes? No you can't and you will never be. Not so with gold.<<<

If you mean can I personally put $10,000 of oil on your front lawn, you are correct.

However, anyone can buy much more oil than that in a few seconds, purchasing futures contracts on crude. These are certainly as truly oil as "goldmoney" is gold.

I have owned stocks in many different gold mining companies for many years and have read all their reports as they came out. What I have read convinces me that a gold price of, say, $1,000 an ounce will result in an enormous expansion in gold production with new machinery and new technologies.

There is not much point in even talking about the lead time for production of oil if there is less and less oil there to produce. The lead time for exploiting the tar sands of Alberta has not been all that long. Four years ago, almost everyone whom I discussed that resource with told me it would never be economical and it would be many years before it was developed. My only regret is that I paid the slightest attention to these comments. If I had put ALL my money into tar sands then, I would have several million dollars now.
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