"The constant rate cuts and geopolitical jitters have sent gold skyrocketing. Since August 2006, gold has gone from $650 per ounce to $887; a whopping $237 in just 5 months. If that is not a indictment of the Federal Reserve and their “loosey-goosey” monetary policy; then what is? According to the Wall Street Journal “gold and oil have run almost in perfect tandem. The price of gold has risen 239% since 2001, while the price of oil has risen 267%. That means if the dollar had remained as 'good as gold' since 2001, oil today would be selling at about $30 a barrel, not $99.” (WSJ; 1-4-08)
That's right; the price of gas today is attributable to war, tax cuts and the relentless expansion of credit by the Federal Reserve---NOT OIL SHORTAGES!"
That's right; the price of gas today is attributable to war, tax cuts and the relentless expansion of credit by the Federal Reserve---NOT OIL SHORTAGES!"
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