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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: Maurice Winn who wrote (5441)4/9/2006 6:12:57 AM
From: elmatador   of 218621
 
UAE illustrates my point of spending the oil money. The situation today in the oil producing countries differ from the 1973 oil boom years. Then, oil money, the petrodollars, were "invested" in some bottom less hole in Latin America Africa and Asia. The US -under Paul Volcker jacked interest rates to double digits and bankruptin the debtors in the process. The oil producers, now are bringing in people and spending their money inland.
Mind you there aren't any country sending the USD to the US banks to "invest" like in the oil boom years of 1973.

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