Joined: Mar 26, 2008 Posts: 1143 Location: Seattle
Posted: Mon Jun 30, 2008 7:42 pm Post subject: Re: Avoid U.S. Dollar, Buy Commodities, Jim Rogers Says
miraculix wrote:
oilfinder is turning into the perennial troll...
Oh so sorry.
miraculix wrote:
Gold is a store of value irrespective of physical demand in which gold is being consumed to fashion jewlery or to turn it into electrical components.
Maybe - just maybe - the same thing is happening to oil? With so many people and institutions buying oil futures nowadays with no intention to actually take delivery, frankly it's obvious to me that's exactly what's happening. Oil is becoming an "investment" as much as it is a usable commodity. The moniker "black gold" becomes more and more fitting.
miraculix wrote:
The reference currency is being debased, so the sticker price of gold rises. Throw in the psychological factor of inflation fears and the price increase outpaces the actual inflation.
It always has been that way with gold.
And it is becoming that way with oil. _________________ Abundance - what a concept!
Joined: Apr 09, 2007 Posts: 5856 Location: Alaska (its much bigger than Texas).
Posted: Mon Jun 30, 2008 7:49 pm Post subject: Re: Avoid U.S. Dollar, Buy Commodities, Jim Rogers Says
OilFinder2 wrote:
miraculix wrote:
The reference currency is being debased, so the sticker price of gold rises. Throw in the psychological factor of inflation fears and the price increase outpaces the actual inflation.
It always has been that way with gold.
And it is becoming that way with oil.
So you think gold and oil are becoming similar investment vehicles?
Do you suspect that evil speculators are starting to buy and hoard barrels of oil in their basements next to the safe where they keep the Krugerands?
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