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OPEC president sees $200 oil possible

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posted on Apr, 28 2008 @ 04:44 PM
Maybe Mike, Maybe.

There is a big difference between Gold, Silver and other items like Oil or Rice and Wheat.

For starters, both can be dictated by the dollars strength, this is true, but also supply and demand.

The Price of Gold sky rockets.. the dollar falls considerably and others are just hedging their bets that the dollar will continue a fall while Gold rises.

However, Gold is timed in such a way that, if you buy $3,000 gold, your stupid. Who will you sell it to? The demand would drop considerably. I think the same is happening with Gold. People see better items to hide money in then Gold.

Oil is directly linked to the dollar and supply and demand. Not only can speculators be sure that they can buy oil and sell it later at pretty much any price, but that it will automatically keep pace with inflation as well.

Now, sure I think Gold will probably follow oil on upwards, but I don't see Gold as being as good an indicator to the economy anymore then Oil.

Also Silver has exploded as well, far better then Gold. People have more money, and more people in general can invest in Silver.

Can YOU buy large quantities of Gold? For one Ounce you could get 9 barrels of oil.

posted on Apr, 28 2008 @ 05:46 PM
reply to post by gaeliclad

Well is one littler problem with the the demand recent polls show that US consumers are buying less gas, but still the oil prices keeps getting steadily higher, blame the devaluation of the dollar, plus comparatively we are not paying yet the prices to match that inflation on the oil.

Wait when it catches with us is not going to be pretty.

posted on Apr, 28 2008 @ 06:06 PM
reply to post by MikeboydUS

Hey Mike, The largest oil industry think tank just came out and said that the oil bubble is going to burst and the price should be back to $80 a barrel by the end on July. Right now it should be 30-40 from what they say. They claim that speculators have made the price go so high and also the falling dollar.

It is the falling dollar and the World Bank that is making the oil so high, OPEC has nothing to do with it as all those countries get played by the World Bank just like us. Look at the price drop of the oil companies stock and that will show you who is not making the money.

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