Gas is gonna go through the roof.....

[igrowone]

here's a little lesson i saw on cnbc on just how the current gasoline price relates historically with respect to silver
in 1964, the average retail price was $0.30
in other words, 3 silver dimes
now how much are those silver dimes worth today?
that's 3 dimes x spot price(call it $45) x total silver(0.08 troy oz per dime)
or 3 x 45 x 0.08 = over $10 per gallon(by the silver 'standard')
gas isn't expensive, the dollar just has much less value

 

[SpasticGramps]

the dollar just has much less value

Excellent observation. That's what it's all about right here. Real vs Nominal value.

Currency debauchery and the illusion of prosperity. This is a global phenomenon too. Fiat in general is on it's last leg IMO.

 

[DiscoBiscuit]

I believe I read that Bernanke has to testify before the committee Wednesday. QE2 is almost expired and the guess is Bernanke won't extend to QE3, etc. We're getting ready to see how the economy floats w/o the free cash infusion.

 

[SpasticGramps]

This will be an inflection point IMO. The ponzi scheme didn't do well when QEI ended nor QE 1.5 lite. I doubt QE2 ending will be very pretty. I believe they will end it, keep Zero Interest Rate Policy in tact "for the foreseeable future," I believe most indices will sell down proportional to the liquidity withdraw until something shitty happens and we need QEIII come fall. They are the major buyer of stocks. What happens when the big biggest boy on the block starts selling? The paradigm is built on infinite credit expansion which is economically impossible.

Not sure how well she's going to float captain the hull looks like swiss cheese.

 

[SpasticGramps]

Musings from Bill Gross of PIMCO (Worlds' Largest Bond Trader) ahead of The Bernank's big first press conference. Maybe The Bernank will poo himself.

"Just as Charles Ponzi needed donuts to turn back a suspicious crowd of investors, the Fed needs “donuts” in order to fill the bellies of the literally millions of investors worldwide who worry about the alarmingly large U.S. budget deficit and the impact that the U.S. debt dilemma could have on their Treasury holdings...Their collective buying has created what we believe to be a profit illusion with many investors mistakenly believing they can continuously reap profits from perpetually falling bond yields and rising bond prices, just as they have had opportunity to do over the past 30 years, amid the great secular bull market for Treasuries and the bond market more generally...For many reasons, this “duration tailwind” for Treasuries can’t last, particularly because the United States has reached the Keynesian Endpoint, where the last balance sheet has been tapped."

 

[robbiedublu]

But the last balance sheet has not been tapped yet. They still need to steal our IRAs and 401ks. That'll take a couple of years. After that they can abandon the US / Europe and move on to China, India and Brazil .

 

[SpasticGramps]

And they will. That's why we're hedged.

I gotcha, but to hear Bill Gross, of all people, pondering the Keynesian endpoint openly is an inflection point IMO. It's admission that moral hazard has completed its cycle and the time has come to reboot.

Let's see what happens when the DXY breaks it's ~70 resistance?

Like playin' limbo on a cruise ship. How low can you go?

 

[smokefrogg]

in the city of los angeles, a metro day pass is $6

the metro day pass can be used on all metro trains and buses, with it and planning, a person can get to most places in and around the los angeles area

 

[HempKat]

But the last balance sheet has not been tapped yet. They still need to steal our IRAs and 401ks. That'll take a couple of years. After that they can abandon the US / Europe and move on to China, India and Brazil .

A couple of years? Hell, the bursting of the housing bubble reduced 401K's to 201K's in a matter of a few weeks.

 

[robbiedublu]

A couple of years? Hell, the bursting of the housing bubble reduced 401K's to 201K's in a matter of a few weeks.

What i'm referring to is the coming plan to mandate that all IRA/ 401k money be "invested" in certain govt approved funds so that they can then steal it. It's really the last big pool ( I think I read over 10 trillion, not sure of the exact amount) of money just sitting there for wall st, via the govt, to steal. It'll take them a while to ramp it up. Not that things won't continue to go downhill in the meantime though.
Buy physical silver! Silver $50-52 by next thursday.

 

[igrowone]

What i'm referring to is the coming plan to mandate that all IRA/ 401k money be "invested" in certain govt approved funds so that they can then steal it. It's really the last big pool ( I think I read over 10 trillion, not sure of the exact amount) of money just sitting there for wall st, via the govt, to steal. It'll take them a while to ramp it up. Not that things won't continue to go downhill in the meantime though.
Buy physical silver! Silver $50-52 by next thursday.

govt approved funds? there might be talk, but i'd be skeptical that would happen
if it did, then i'd agree, that probably would be theft(or close enough)

 

[SpasticGramps]

But the last balance sheet has not been tapped yet. They still need to steal our IRAs and 401ks. That'll take a couple of years. After that they can abandon the US / Europe and move on to China, India and Brazil .

Your right it hasn't. The point of total capitulation and implosion will mark balance sheet exhaustion. We still have a a ways to go. Like you said there is still some left to steal before the giant squid moves onto the BRICS.

 

[hunt4genetics]

Will $6US per gallon be the line?

A $6+ per gallon America=

No Saturday mail
Nationwide 4 day school week.
Local govt go to 4 day work week.

 

[PuReKnOwLeDgE]

6 dollars will be nothing IMO, I think in time it will go much HIGHER. Filling up the PWC's with premium this summer is going to suck. My super stock seadoo will use 9 gallons of premium per hour if rode wide open....Not to mention the Ford truck that drives them there!

Do you think the rich bastards have purchased oil fields that will last their families the next generations? I do....

Good thing money grows on trees

 

[med_breeder]

I think 5$ is the breaking point.
maybe once upon a time when a middle class existed 6$ could be absorbed, I doubt that now.

at 6$ I see a country where people carpool to work, then straight home. The streets are empty during 9-5. Those that live in an area with public transportation, they will park their cars.
Other's will drive only for work, and walk and bike everywhere else.

On a positive note Americans will be far healthier and in shape ten years from now, than today.

 

[igrowone]

I think 5$ is the breaking point.
maybe once upon a time when a middle class existed 6$ could be absorbed, I doubt that now.

at 6$ I see a country where people carpool to work, then straight home. The streets are empty during 9-5. Those that live in an area with public transportation, they will park their cars.
Other's will drive only for work, and walk and bike everywhere else.

On a positive note Americans will be far healthier and in shape ten years from now, than today.

this is a possible vision of the future, could be true, but maybe some positives
but if we're willing to drive really small cars with clean diesel engines, i'd think you'd be able to get 70 mpg with current tech
VW claims about 50 mpg for its TDI engines in 'normal' sized vehicles
but change has to happen

 

[Donald Trump]

change rofl

 

[SpasticGramps]

FYI.

There are a considerable amount of resources being allocated to the Eagleford Shale in South Texas at the moment. Big Wells is back!

Barnette Shale, Haynesville, and the rest of east texas are starting to slow. Played out or too expensive to produce because of downhole temps respectively.

If there is a commodity pullback with NG at ~$3.70.... Independents are going to eat it.

Hedge ourself accordingly.

Warning: Musings of my first taste of Crown Black and a bowl of well cured G-Bomb.

 

[Chronic Don]

with all the shale gas there is we have energy for a long time, plus how much is in conventional formations?
If they needed to I am sure the technology is obtainable/inventable to modify NG to be more user friendly to fuel vehicles. if NG can be modified to become plastics then for ng to become a fuel source is conceivable.

so any new word on the thing were Obama is going to investigate wether the gas prices are actual gouging and not justifyable?

I wish our Gov't had the balls to do that. But with foriegn countries owning our resources and paying taxes they will not take the chance of losing investments or the tax base. I guess mostly because of agreements made to keep them investing here in the last few world economic turndowns of the 80's-90's-2000's.
today our lowest pumps were priced at 116.9c/litre or x 3.78 = 441.9c/us gal we are probably the lowest price in Canada. Lower then our oil capital or economic center here in Alberta.

 

[igrowone]

for those still watching, the thread that is, oil prices are doing some interesting things today;
just about down to $100, quite dramatic, a sliver of good news for a little while