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Jérôme, first of all congratulations, you had the clairvoyance to start writing about this before most of the people in the finance/economics sphere even knew there was a fundamental problem with oil supply.

Last week was very strange with Brent above 96, Tapis above 102, Lousiana above 100 and the WTI staying put. Yesterday when I checked the prices early in the morning gold was trading way north of 570 €/oz, I knew we were in for something. I had to dive into work and only got the news late night by the TV.

Today gold is above 580 €/oz and the USDX is sinking again below 76. Above all we are witnessing a run away from paper currencies and that's why we haven't yet the dollar stampede that you also forecast. But eventually all those dollar bonds and bills will become so light that the wind itself will blow them away.

You might find me At The Edge Of Time.

by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Thu Jan 3rd, 2008 at 03:18:17 AM EST

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