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Political Discussion / Politics / Money Matters / Peter Schiff 1/23/2009 "Oil Is Going To Skyrocket!"

Posted:  24 Jan 2009 21:53

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But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles

And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles
Posted:  25 Jan 2009 00:24   Last Edited By: Tim
I don't think they were saying it was necessarily going to skyrocket were they?
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Lucas McCain the Rifleman: A man doesn't run from a fight, Mark...but that doesn't mean you should go running *to* one, either.
Posted:  25 Jan 2009 13:53
Demand is increasing worldwide, and the drop we had was too much based mostly on the Fed printing money like mad and our reps handing it out like Halloween candy. Now the dollar drops further in value from the inflation created by those handouts and oil acts inversely-it goes up as the dollar goes down.
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But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles

And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles
Posted:  26 Jan 2009 18:15
I thought though they were saying a barrel of oil is likely to go to 50 dollars a barrel not nothing like the 140 dollars we had.

Of course personally it wouldn't surprise me if oil did jump up there sometime in the future because if demand increases to the point where it was we will be right back where we started. Not enough drilling, not enough refineries.
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Lucas McCain the Rifleman: A man doesn't run from a fight, Mark...but that doesn't mean you should go running *to* one, either.