The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: maceng2 who wrote (20899)	6/20/2009 2:25:00 AM
From: Real Man	2 Recommendations Read Replies (1) of 71456

That it's dirt cheap, only 2g of gold per barrel, as opposed to the average of 3.5g per barrel over the last decade. Getting there though. On the other side, supply of dollars is unlimited lately. Hey, it was twice cheaper than in 2002 earlier this year!!! According to this chart, oil got overpriced but never got to be a bubble, as unlimited supply of dollars drove it through the roof back in 2008. Then of course... this chart also says peak oil was never the key issue that drove price of oil from $10 to $148 in a decade. -g- Of course, the fact that oil is dirt cheap reflects global economic depression, so those watching supply/demand will say oil is overpriced. My guess is that oil should stay between 60 and 80, where a lot of marginal supply is, as long as the globe remains in a recession/depression. It will take off rather sharply as soon as some countries come out of their recession. It will happen. We likely won't see $30 oil ever again.

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