cpdaman (December 31, 1969 at 11:59 pm)

Part V , OPEC would shift to a basket of currency's , because the euro could fall rapidly, and this would probaby include the yen, yuan, euro , dollar. A straight shift to euro by all country's would be too destabalizing , they could slowly change the weight in the "basket"

cpdaman (December 31, 1969 at 11:59 pm)

part IVthis will create the inflation that the policy makers will need (that helps maintain higher asset prices) while consumer prices climb much higher and americans are left with a standard of living much lower But americans will not be able to carry the economy anymore since their access and abilty to take on more debt will be crippled for a few years. (so they will be of less use to bankers anyway).This decision may make more sense for the Global economy to continue to proser sans us

cpdaman (December 31, 1969 at 11:59 pm)

part IIIThis combined with a BANKING sector in shambles (struggling in the last 4 months to extend credit) and (falling fast as long as house prices go down (house values are collateral underlying bank captial). Thus tradition measures will not ignite money inflation soon (i.e rate cuts/ securitization is dead) Thus the way to create the necessary inflation may be the tuff decision to cut ties with the petro dollar . (gee why is greenspan telling opec to cut dollar peg!)

cpdaman (December 31, 1969 at 11:59 pm)

part IIOtherwise i think the u.s monetary policy directed by Ben Bernanke at the FED is scared to death of DEFLATION and that they may have a "keep asset prices from deflating at all costs mentality" as the tremednous amount of debt created (the false boom of the last 20 years) has to be unwound.

cpdaman (December 31, 1969 at 11:59 pm)

part 1. good video i have a few qualms that i would like to discuss in a intelligent way first peak oil is the end of CHEAP oiloil supply's will be reduced in a much more Gradual way since oil above 90-100$ makes it profitable to extract crude from oil sands and other methods that were not as "doaable" in the 90's when oil was 15$ a barrell.

davincij15 (December 31, 1969 at 11:59 pm)

I am not say peak oil does not exist I am just saying it ain't now. You see 90% of the oil price is monetary inflation nothing else. Look hyperinflation is occurring I can name of 50 things that have increased more than 10% in the last 6 months alone. Ben as upped the anti for the TAF to $75 bill 3 times a month plus the $31 billion a day via the discount window. As for peek oil? Is monetary policy deniability, I will stipulate you are correct when there are lines at the pump.

Winboloer2 (December 31, 1969 at 11:59 pm)

I seriously doubt that all the scientists are conspiring with the liberals against America as he seems to be trying to say. As for delays and shortages, you're right there are none yet, but then again it's not hard to destroy demand when prices are high. BTW, I do not believe the current spike of oil is due to oil shortages, but the devaluation of the dollar, the ending of the petrodollar system, and the BELIEF in the commodity market that there will be shortages as petroleum production peaks.

Winboloer2 (December 31, 1969 at 11:59 pm)

Sorry I accidentally deleted your other comment while I was trying to reply to it, but you referenced Lindsey Williams as your proof of Peak Oil being a hoax. I have seen no corroborating evidence that backs up any of his claims, he believes in abiotic oil, his claims are based on hearsay at best, and hes a baptist minister, not an oil geologist, businessman, or anything remotely related to a scientific background.

davincij15 (December 31, 1969 at 11:59 pm)

You are correct people do not understand that if there was not enough oil and we would have delivery delays and shortages. Like we are seeing in silver.

rubberbong (December 31, 1969 at 11:59 pm)

the truth is that peak oil theory is a hoax.