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Politics : The Environmentalist Thread
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To: average joe who wrote (21683)5/23/2008 10:57:48 AM
From: teevee  Read Replies (3) of 36918
 
you are both correct. Peak oil is here, AND the US is printing its way out of the credit crisis. The rate of money supply is unprecidented. Many of the oil producers either have or are losing confidence in the US dollar as THE international trade currency. Now US oil buyers are often forced to buy yen or Euro's to pay for their oil purchases. When commercial sub prime plus CDO's etc are all added together, the number on the bad paper worldwide is estimated at about $47 trillion. I expect that eventually, the US will have to devalue and issue new currency.
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