Howdy Steven,
Actually, what the articles states is the dollar devaluation is the driving
force behind the rush of investment professionals toward a safe haven in
crude oil futures. This haven is much better than gold.
The price of crude is now the best gauge of the true value of the US Dollar.
Is it possible to read something into these events?
YES ! The truth. Money talks.. what is it saying .. powers that govern are
scared.. and .. one does not play poker with scared money ! When people get
scared.. they do crazy things. When people do crazy things.. bystanders get
hurt.. moral.. do get caught standing by. Duck for cover. Cover your ears
and keep your cool.
Richard
Steven wrote,
I found the following article amusing in a macabre sort of way.
http://money.cnn.com/2008/06/27/markets/oil.ap/index.htm
Especially the statement:
Meanwhile, the head of Libya's national oil company
said the country may cut crude production because
the oil market is well supplied, according to news
reports.
I'm surprised Iranian's Oil Minister didn't beat him to the punch line.
