Senator Jon Kyl: Let's Get Back to a Strong Dollar!

[Eli3333333]

We need our money to be Gold Backed like the forefathers wanted it.

[jaralero]

John F. Kennedy, President of the U.S., before the International Monetary Fund, Washington D. C., Sept. 30, 1963:

"We are determined to do whatever must be done in the interest of this country and, indeed, in the interest of all to protect the dollar as a convertible currency at its current fixed rate. We are determined to maintain the firm relationship of gold and the dollar at the present price of $35 an ounce, and I can assure you will do just that."

SURE! ;D

$925/oz and going up.

[majikninja07]

jfk signed a presidential order that the treasury could print "dollars" backed by gold and silver which has never been taken up by democrat or republican presidents..

[jaralero]

I don't know how the American Geological Institute calculates their $65 a barrel figure. Had the dollar hold its 2001 exchange to the Euro, the barrel of oil would cost now about $58-$60 (with a similar inflation rate). Having in mind that the cost of gold/oil is identical, with a low inflation rate the price of oil would have not reached the $50s in seven years.

That doesn't deny the importance of looking for oil alternatives, oil is coming to an end, it shows that it's all about INFLATION.

[jaralero]

It is urgent that the U.S. starts rising interest rates and cutting spending [Ron Paul's platform]. Because the name of this debacle is RUNAWAY INFLATION.

Year 2001,

$1 = 1.21 Euros

1 barrel of oil = av. $29

1 barrel of oil = av. 35 Euros

1 oz. of gold = av. $260

1 oz. of gold = av. 275 Euros

1 oz. of gold = 8/10 barrels of oil

[jaralero]

Year 2008 (after 2001 Fed's interest rates fell to 1%)

$1 = 0.62 Euros

1 barrel of oil = av. $120

1 barrel of oil = av. 70 Euros

1 oz. of gold = av. $920

1 oz. of gold = av. 585 Euros

1 oz. of gold = 8/10 barrels of oil

American Geological Institute: "Oil would be now about $65/barrel [inflation added] if the dollar had stayed strong."

The absolute price of oil has remained pretty stable, it is the value of the dollar that has sunk to an all time low.

[gbm322]

It is urgent that the US starts switching to second generation biofuels (cellulose), unconventional gas-powered vehicles, and plug in hybrids and massive investment in nuclear and wind and solar energy.

[truthsabre7]

The system is broken. So broken that the will to do the right thing has evaporated. We have the oil, we cannot conserve our way out of the oil problem. Like money when your short get some more.

[jaralero]

If red ants bite you and you ask the druggist for a mosquito repellent, you are not going to stop 'em no matter how hard you try. You can conserve your way out of the oil problem, according to R. Bartlett that is what you should do if you have any clue of the PROBLEM that you are facing in 20 years. The issue now is that your Government is debasing your dollar to pay for things it cannot have, lowering interest rates like crazy. If you keep looking for mosquitoes, then God wants your extinction.

[talktal]

i hope these people realize that $150 a barrel is no joke, this is national security issue. if they do not take real steps soon, you'll first start seeing riots in the streets of poorer cities like detroit and new orleans, then as oil rises more, riots will begin in cities like la and philladelphia. bush, you better call back the national guards.

its faily obvious investors are maniupulating prices and keeping them high.

[gbm322]

Its not manipulation. Its supply and demand. Demand for oil is roaring ahead in all parts of the world; Russia, India, China, Brazil, Middle East, Southeast Asia, Korea, even Africa. Supply is stagnant. So demand need to meet the supply and the only way that is going to happen is higher and higher prices.

[talktal]

within a year all this demand has come up to double the price of oil? do you see gasoline rationing across china and the united states? yes, demand is going up, but any analyst will tell you the price of oil is defying the rule of supply and demand.