Doug Casey’s International Man
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But the fundamental problem facing the oil market cannot be solved with derivatives, interest-rate cuts, newly created money, or manipulating the market.
A massive volume of oil has been removed from the global market as the Strait of Hormuz is essentially closed.
That supply will not be easily replaced.
Alternative pipelines have limited capacity. Spare production cannot be activated overnight. Tankers, ports, refineries, and storage facilities all face physical constraints.
Governments can print currency.
They cannot print a barrel of oil.
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“There is an old German saying that goes, ‘Whoever does not respect the penny is not worthy of the dollar.’ It expresses the sense that those who neglect or ignore the small things cannot be trusted with larger things, and fittingly describes the problems facing both the dollar and our nation today.” — Ron Paul
Why is there no more “penny candy”, “nickel cigars”, “dime comic books”, or “quarter a gallon gas”?
Because the Gooferment “printing press” (i.e., the FED) … …
… … The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. … …
… … allows the Federal Gooferment to “spend fiat money” without limit.
Argh!
— 30 —
Reinke Faces Life 