I observed an interview of Robert Kiyosaki this week in regards to oil/fuel prices and the long term forecast. Kiyosaki claims that the primary reason for our current oil price situation is the devaluation of the dollar. Oil is purchased in dollars and as the United States continues to print more dollars the value declines which directly results in escalating oil prices. There are obviously other factors that cause the price of oil to rise including demand and oil speculators, however, the primary culprit is the declining value of the dollar. Kiyosaki also says to enjoy the slight reprieve we've observed over the past couple of weeks because in the long term, if the dollar continues to decline in value, we can expect to see gas prices well over $6.00 or $7.00 a gallon.
Posted by Glenn Crawford of Project Liberty
Thursday, August 14, 2008
Slight Reprieve in Oil Prices Won’t Last Long
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Point well made. Dollar has declined. One of major causes is that we have be siphoning money to Iraq war where the return is negative.
ReplyDeleteOne more conspiracy theory to be aware of:
ReplyDeleteDo a google video search for a guy named Lindsey Williams. He was a chaplin on the Alaskan North Slope where a major oil discovery was found, and the "big boys" told the oil company that found the discovery to "keep a lid on it."..
Interesting...
I also know first hand from a very knowledgable source that there are some major oil discoveries in Saudi that are "kept quiet" and don't show up on any government reports..
So, the dollar has declined, China and India's economies are exploding and becoming westernized, and the US Govt is keeping oil discoveries quiet...
Sounds like there is more upside to the price of oil to me..
So,