The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Les H who wrote (18126)	4/22/2011 8:00:52 PM
From: Les H	1 Recommendation Read Replies (2) of 119361

Starting to see $6 gas by summer being touted on news shows ABC says demand has now fallen for six weeks straight Sadly they make no mention of the contribution of the Fed and the banks who speculate in the energy markets abcnews.go.com In the Tampa news, there's mention of monetary policy but attributes it to Obama. Still, no mention of the Federal Reserve: There are new concerns, outside the realm of basic supply and demand, that could push gas prices even higher, faster. "We're gonna have to spend a lot more money for just about everything and gasoline is just the beginning of that," says Steve Overton, a financial advisor with Raymond James Financial. Overton says it has to do with the value of the U.S. dollar, which has been reaching new lows against other currencies recently. Oil on the world market is priced in U.S. dollars, so the weaker our currency gets, the more of those greenbacks it takes to buy a barrel of crude. And if we lose our status as the world's reserve currency? "Gasoline could cost us $6, $8 or $9 a gallon," says Overton, who joined a growing chorus of people looking ahead to a potentially painful summer at the pump. The Obama administration's policies to keep interest rates low and keep printing money for stimulus projects also have the side effect of weakening the dollar. wtsp.com

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