This is the adjusted monetary base for the past 30 years.

Look from between April 2008 and April 2009.
(http://research.stlouisfed.org/fred2/series/BASE)

That's when Ben Bernanke started his printing binge.

There was no production; there was no growth.

When did gas prices start to rise?

People say prices have doubled since Obama's inauguration?

Can't you see why?

BECAUSE THE VALUE OF THE DOLLAR WAS CUT IN HALF.

Here's a bit of information.

http://www.dailymarkets.com/economy/2012/03/11/measured-in-gold-the-price-of-oil-is-below-average/

Average price of West Texas Intermediate crude oil (WTI) since 1971: 0.0732 ounces of gold.
Current price of WTI: 0.0587 ounces of gold

(http://www.indexmundi.com/commodities/?commodity=crude-oil-west-texas-intermediate&commodity=gold)

3/13/2012 3:57:38 PM

By the end of 2009, right after all that money was printed, gas prices collapsed to below where they were in 2007




[Edited on March 13, 2012 at 5:09 PM. Reason : errarghhh]

3/13/2012 5:07:49 PM

let me troll your graph. pwnt

3/13/2012 6:57:03 PM

your troll isn't immediately obvious to me




or is that the point

3/13/2012 9:06:32 PM

i'm not sure if i'm afraid of what you DONT know.. or what you THINK you know about what you just inferred



either way.. holy shit lol

i recommend basic economics youtube videos for starters.

[Edited on March 13, 2012 at 11:28 PM. Reason : ,]

3/13/2012 11:27:38 PM

your obviously one of the best posters on this board, why don't you save me some time and lay out an argument? Drop some youtube knowledge on me . . .

3/14/2012 4:21:25 PM

*you're

[Edited on March 14, 2012 at 7:02 PM. Reason : derp, head it off at the pass]

3/14/2012 7:02:38 PM

I find this highly interesting:

http://www.ft.com/intl/cms/s/0/f9f8eb00-729e-11e1-9be9-00144feab49a.html?ftcamp=published_links/rss/markets_commodities/feed//product#axzz1q3BeueOo

Quote :

" Saudi Arabia’s powerful oil minister, Ali Naimi, made a rare intervention into overheating oil markets on Tuesday, declaring that high oil prices were “unjustified” and vowing that the kingdom would boost its output by as much as 25 per cent if necessary."

The problem? Derp, we don't have anyone to sell it too. . . . .

Quote :

" Asked if it could ease prices by exporting more oil, he said customers were not asking for additional crude. “We are ready and willing to put more oil on the market, but you need a buyer,” he said."

Stu posts:
http://earlywarn.blogspot.com/2012/03/mr-al-naimi-beats-oil-markets-with.html

that its the same excuse saudia arabia has used before, most recently in 2008, you know when prices hit record highs.




tldr;
there is a contingent of people that thinks saudia arabia's spare capacity is very small and is getting smaller every day, but they keep maintaining this "we can handle demand!" bluff (which I think will eventually backfire bigtime on the global economy)

[Edited on March 24, 2012 at 12:30 PM. Reason : .]

3/24/2012 12:11:06 PM

we'll be 100% solar power + 100% electric cars by january 2013. no need to worry about oil

drilling is useless.

3/24/2012 9:05:14 PM

Youtube link plz? thanks

3/25/2012 11:36:58 AM