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

[TruthOrLie]

We need to control what people do with oil.

Its not an infinite resource, so people want to put a price on it like its running out sometime soon...

We already drill at home, but that stuff gets stored for future wars. Foreign is imported for domestic use.

If people only used gas to go to work and school and transport food or injured or old and young...

...and not sit in traffic, or take leisure jet rides, or drive humvees to the post office...

and the stuff was actually respected as something worth $100 a gallon... which we get for less than $5...

maybe Bushes and Bin Ladens wouldn't hoard the stuff for fueling tanks and fighter jets

 

[Blueshark]

Hey!! Can someone please tell me why we are not drilling here but have released money (that we don't have, BTW..) to both Brazil and Columbia to help them develope new oil fields,ie: new wells?

Drill now.... And yes, the price of a barrel of crude is tied DIRECTLY to the Dollar.
Look at the charts of crude prices and the falling value of the US Dollar. They are mirror images of themselves. It's no accident.

Oh, and Google a little thing called the Bakken oil field... Excellent reading. Located in N.
and S. Dakota, eastern Montana and southern Canada and could quite possibly be the largest known oil reserve on the planet. And we're not drilling because.....?

 

[Mountain]

Hey!! Can someone please tell me why we are not drilling here but have released money (that we don't have, BTW..) to both Brazil and Columbia to help them develope new oil fields,ie: new wells?

Drill now.... And yes, the price of a barrel of crude is tied DIRECTLY to the Dollar.

Look at the charts of crude prices and the falling value of the US Dollar. They are mirror images of themselves. It's no accident.

Oh, and Google a little thing called the Bakken oil field... Excellent reading. Located in N. and S. Dakota, eastern Montana and southern Canada and could quite possibly be the largest known oil reserve on the planet. And we're not drilling because.....?

They're drilling like crazy in the Bakken fields. It's one of the reasons North Dakota's unemployment rate is less than half of the general US.

As for the rest of the US the only thing that's making old fields viable is horizontal drilling but Gramps can shed some light on that. Even with the revival of the old fields due to new drilling techniques still just a drop in the bucket to quench the oil thirst of the US.

Yeah but what's gonna happen when oil is no longer pegged to the dollar...which is really already going on in some areas of the market?

 

[Weed-Luver]

unfortunately, everything i just read in this page is correct..the reasons are many..
drilling anwar, the gulf whereever isn't really going to do squat..the population explosion occuring all around the world will be our demise..there isn't enough natural resources for everyone to last any considerable time frame..
we the US need put out best foot forward and create a renewable energy or some kind of alternative one, and i don't mean nuclear...we could set the world standard and be a player again..imagine if we could learn to harness the suns energy or harness the power of a splitting atom into an safe and effective form..or best yet a system that use our trash as energy..there is something out there but big oil won't ever let anything else come into play....think star trek quantum physics....LOL..

 

[HUGE]

gas will be 7.00 a gallon by december 2012. remember this post.

 

[TruthOrLie]

until they find floating meteors of fossil fuels (or gold) floating in space, oil is the new standard to replace gold as economic stabilizer

 

[Mountain]

gas will be 7.00 a gallon by december 2012. remember this post.

I'm buying a Jetta TDI. I calculated the cost savings over 100,000 miles at a fuel cost where I think it will be soon compared to a decent gas car and...the savings basically pays for the car. I can also put up a 250 gallon tote of biodiesel for about a year and there's a year's worth of fuel for me, easy, so can ride out any major disruption when that happens. I can also go close to 2000 miles with a full tank and 20 gallons of bio in the trunk.

Hybrids are over rated...lol.

 

[igrowone]

I'm buying a Jetta TDI. I calculated the cost savings over 100,000 miles at a fuel cost where I think it will be soon compared to a decent gas car and...the savings basically pays for the car. I can also put up a 250 gallon tote of biodiesel for about a year and there's a year's worth of fuel for me, easy, so can ride out any major disruption when that happens. I can also go close to 2000 miles with a full tank and 20 gallons of bio in the trunk.

Hybrids are over rated...lol.

i really don't have a clue why hybrids have taken off like they have
the clean diesel tech kicks its butt down the road
maybe because diesel still has a 'dirty' rep, the clean diesel stuff is incredible

 

[Mountain]

Yeah clean diesel technology rocks and diesel fuel is much better than gas regarding it's energy potential. The plug in hybrid stuff is cool. My friend has a plug in hybrid conversion he did on an old Prius and he gets like 200 miles off a charge. Still though cost him about $10,000 for the conversion but he's got a solar panel setup to charge it. One study I read says most peeps drive less than 200 miles per day. In Cali the plugins would work well cause most energy is generated by natty gas plants which run through the night cause they can't just shut em off and peeps could charge their cars for cheap on energy that's basically just being wasted.

Hybrid technology is cool but for basic transportation a diesel vehicle is a much better deal IMO. Yeah they've come a long way in clean diesel technology. I mean even like diesel cut with 10% biodiesel cuts NOX emissions way down.

 

[SpasticGramps]

I'm sure everybody here knows the powers of the fed vs congress and president?

This will no doubt come off as revisionist history, but to be honest I think quite a bit of what is taught in our schools and institutions of higher learning is half truths and distortions.

The Congress and The President work for the Central Banking system. Not necessarily the Chairman at any given time, but the institution of central bankers and central planners behind them the banking oligarchs. Not necessarily through devious choices either. Just through progressive indoctrination and systemic corruption. The more I've thought about it the more I believe that it has been that way since 1913. I believe the American political system as it exists in most of our minds to be a total sham.

No one ever questions the FED. Except Ron Paul and as much as I like him he's, but a flea on these people's bums.

I think it's all moot at this point though. It looks to me like the Central Planners ponzi is unravelling with the demise of the dollar. There was no recovery from 2008. Just a coverup. The consequences of which are currency destruction.

China is gearing up to start dumping the dollar in earnest. Inflation is about to really take off IMO.

China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings

All those who were hoping global stock markets would surge tomorrow based on a ridiculous rumor that China would revalue the CNY by 10% will have to wait. Instead, China has decided to serve the world another surprise. Following last week's announcement by PBoC Governor Zhou (Where's Waldo) Xiaochuan that the country's excessive stockpile of USD reserves has to be urgently diversified, today we get a sense of just how big the upcoming Chinese defection from the "buy US debt" Nash equilibrium will be. Not surprisingly, China appears to be getting ready to cut its USD reserves by roughly the amount of dollars that was recently printed by the Fed, or $2 trilion or so. And to think that this comes just as news that the Japanese pension fund will soon be dumping who knows what. So, once again, how about that "end of QE" again?

From Xinhua:

China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.
And as if the public sector making it all too clear what is about to happen was not enough, here is the private one as well:

China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

Tang's remarks echoed the stance of Zhou Xiaochuan, governor of China's central bank, who said on Monday that China's foreign exchange reserves "exceed our reasonable requirement" and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

Tang also said that China should further diversify its foreign exchange holdings. He suggested five channels for using the reserves, including replenishing state-owned capital in key sectors and enterprises, purchasing strategic resources, expanding overseas investment, issuing foreign bonds and improving national welfare in areas like education and health.

However, these strategies can only treat the symptoms but not the root cause, he said, noting that the key is to reform the mechanism of how the reserves are generated and managed.

The last sentence says it all. While China is certainly tired of recycling US Dollars, it still has no viable alternative, especially as long as its own currency is relegated to the C-grade of not even SDR-backing currencies. But that will all change very soon. Once the push for broad Chinese currency acceptance is in play, the CNY and the USD will be unpegged, promptly followed by China dumping the bulk of its USD exposure, and also sending the world a message that US debt is no longer a viable investment opportunity. In fact, we are confident that the reval is a likely a key preceding step to any strategic decision vis-a-vis US FX exposure (read bond purchasing/selling intentions). As such, all those Americans pushing China to revalue, may want to consider that such an action could well guarantee hyperinflation, once the Fed is stuck as being the only buyer of US debt.

I think Jefferson had it right.

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered." Thomas Jefferson

We are the children IMO. No more kicking the can down the road. The real market forces will make us reconcile.

 

[SpasticGramps]

Let's see what the self proclaimed "Masters of the Universe" talking head on CNBC have to say about it.

Don't Like a Weak Dollar? Might as Well Get Used to It CNBC Wow. Kind of rude, eh?

Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.

The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world's predominant national currencies.

A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.

In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect.

"Panic dollar selling is setting in," Gartman, a hedge fund manager and author of "The Gartman Letter," wrote in his daily commentary. "This may carry farther than any of us dream of or, worse, have nightmares of."

How low can it go?

Rick Bensignor, chief market strategist at Dahlman Rose in New York, said the dollar index [.DXY 74.01 -0.09 (-0.13%) ], which measures the greenback against a basket of select other global currencies, has scant technical support "that has any meaning" between its present level and the historical low of 70.70.

That's a widely shared view, even as currency pros wonder how the dollar could be falling against the euro considering the near certainty of sovereign debt defaults in smaller European Union nations.

That, of course, is not the case for consumers buying food and energy. Some economists believe that a weak dollar is contributing heavily to the surge in prices at the pump, with one speculating that gas could reach $6 a gallon or beyond by summertime, given certain conditions.

Food prices also are on a steady climb higher. In both cases, a weak dollar is at least somewhat to blame as it drives commodities, which are priced in dollars and therefore cheaper and more attractive to speculators in the global marketplace.

But the stock market has enjoyed the weak dollar.

Nominal value vs real value. The market is too distorted. Too out of equilibrium.

Stocks, oil, PM's, commodities about to take off IMO.

 

[smokefrogg]

it's happening, lovin' the road bicycle I got, a worthy investment

 

[trichrider]

and about to come unhinged...

 

[joeuser]

My God...look at silver! Up $2 over the weekend!

Why are my fucking miners lagging???

Damn...I wish I had bought and held AGQ!!!

 

[SpasticGramps]

I'm loving my silver bullion bars right now.

 

[tr1ck_]

Hrm cant decide if I should buy more silver, or gold today

 

[amannamedtruth]

Love's my bicycle.

 

[SpasticGramps]

I like silver because it is still way off it's normal ratio to gold and has more upside IMO.

In other inflationary news the IMF drops it's "bombshell" as they call it. No surprise to anyone paying attention. Granted China has their own social unrest and inflationary problems to deal with.

IMF bombshell: Age of America nears end MarketWatch

BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

 

[TruthOrLie]

I wrote it before and I'll write it again.

My jeweler says China and India are driving gold prices sky high.

A huge portion of those living in poverty are moving into middle class.

When they get married they have customs of gifts in gold.

More middle class, more weddings, more demand for gold.

American's don't give a flying fart about gold unless they're in a music video.

Americans are selling their gold for cash because they can't buy gas, but the gold is being used to solidify a transfer of wealth from the American middle class to the Asian/Indian middle classes...

This time next year he forecasts gold to be $2500 an oz.

 

[robbiedublu]

My God...look at silver! Up $2 over the weekend!

Why are my fucking miners lagging???

Damn...I wish I had bought and held AGQ!!!

I love agq but you gotta watch for signs of comex default cause when that happens it goes to 0, just like all "paper" silver. I'm simple but I never understood the fascination with miners. Unless you have some inside info on which one is going to move, why not just invest in agq and buy physical ?