Thursday, February 23, 2012

West Texas Intermediate Crude: $107.88

Don't let anyone tell you the spike in oil is just about tensions in the Middle East. The lack of supply from Iran (Thanks to a U.S. financial blockade against Iran) is impacting the price of oil some. But the climb in oil started before the recent escalation in tensions. Bernanke money printing is the primary causal factor.

12-month chart of West Texas Intermediate crude


  1. Its not inflation, just higher prices.

  2. Ron Paul addressing Greenspan a month before Nasdaq peaked in March 2000. He predicts the collapse to come as AG must slow down the money printing.

    Also explaining how new global productivity can hide the effects in the CPI, but still benefit the Elite who receives the money first, while hurting the shrimp fisher in Texas.

    A deafening silence at the end.

    I would love for Krugman to explain where RP gets it wrong here. Can he take the challenge?