Thursday, December 9, 2010
The Oil Rally
The world's currencies are being inflated almost without precedent. The European Union is avoiding the bankruptcy of European countries by lending them new money. The US issues huge amounts of money, lending to itself. Likewise, the UK inflates the pound, South American countries inflate their currencies, and so forth. We are entering an age of inflation. The demand for oil exceeds the supply, which can no longer be increased. The demand must therefore be reduced, and the inflation is to accomplish this. The price of oil has started a long rally, one that will bring great trouble to the world. To the right you can see the price of crude oil in real time.