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Hi Vorts,
Big oil came in just over the average return ( 6. 5%) on gross sales at
near 8.5 %
If youn want to look at figures .. look at returns on Banking at 18 %. Not
to worry, Paul Voelker, ex Fed chairman recently made a comment that there was a
75% chance for a " major correction" in the world of currencies ( spell that US
dollar falling) this year because of the continued US trade imbalance of 500 bil
and budget deficit of 500 bil.
A 500 bil budget deficit is a " target" not a hard dollar estimate since
that target does not include the real world increases in US govt "obligations"
of another 500 bil per year.
Again, not to worry, Rumsfield replied to the question of rising deficits
in govt by saying... deficits no longer matter.
He is right when you think about it. Since there is nothing we or the rest
of the world can do about it.. it don't matter.
We have the grandmother of all " Mexican standoffs" where everybody in the
saloon is drunk and holding a cocked shotgun loaded with buckshot.. the first
drunk that pulls the trigger gets everybody killed. Currency is no longer a
medium of exchange so the world drug cartels buy New Holland hay balers to
package 50 and 100 dollar bills. Not much they can do but build another
warehouse and buy another forklift.. There is some real quality counterfeit US
money around but it can't have much impact vs the credit card which is the
currency of choice in today's world. In one swift move CitiBank et.al. moved the
swiss out of the poker game and bought the house using your money..
Figures don't lie. The US market economy sustains the world economy.
That will be changing as China and India emerge.. as that tetter totter
tips..well who knows ?
Look into Barrick Gold background history together with their
move becoming the largest gold mining firm. Anyone care to venture a guess
how they did it ? Maybe Arianna Huffington can give us a clue.
My only question is why does it always point to Texas ?
Richard
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- Re: Are Big Oil Conspiracies Really Off Base? RC Macaulay
