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Re: ...........and i thought we were a wash with oil.
and so too does gold have a great day today
I have made back every penny I've paid for iTulip subscriptions just by learning this one fact, the tight correlation between the price of oil and gold. -
Re: ...........and i thought we were a wash with oil.
And this correlation is tightening ...
Using my data and models,
10 yr weighted price for WTI crude is $87.44. +/- $18.44 (1 SD)
Using the same weighted average, the gold/oil ratio is 14.51 +/- 3.8 (1 SD)
Current gold/oil is 12.66, so gold is undervalued.
A lot of the oldest values in the series have very low values, 10 years ago, Oil was $36.00, and the ratio 12. These numbers will be
rolling off the series in the next months.Comment
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Re: ...........and i thought we were a wash with oil.
Geez mega, keep listening to ZeroCred and you'll start thinking the sky is green.
Oil is up today because everyone decided "Jobs Report, we don't need no stinking jobs report" and the suckers rally began.
Oh and for all those that buy the "People stop working when it's cold" crap, not only was the jobs report good in construction (definitely affected by weather) but up here in the great white north we had a fantastic jobs report. And hey, last time I checked, it's still freak'n cold outside!
Anyways, fools and their money.
Oh on a side note while we're in the neighbourhood, my suspicion is that the Jobs Report are coming in so far below expectations these days is because after being caught lying and falsifying the data, the BLS is now telling the truth. And Guess what, it's not what people are expecting. Who'd a thunked it.Comment
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Re: ...........and i thought we were a wash with oil.
Awash with oil? Of course we are - ahem! Its sort of underground or underground and under the sea or underground and under the sea and under the ice. Little inconveniences like that. And of course we need lots and lots of moolah to extract that oil and get it to the surface, and transport it to the refinery and refine it and transport to the customers. No sweat there! And, how much of that moolah will be virtual? Like, electronic credit? Lots, apparently. And apparently, though the economists do not mention it, debt is a toxic financial externality attendant upon the consumption of credit, along with those other environmental pollutants that are attendant upon our happy consumption of finite hydrocarbon fuels. Happy days! Whose got the credit then? Yeah, I thought so!Comment
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Re: ...........and i thought we were a wash with oil.
Yep, to paraphrase Irving Fisher, "Oil prices have reached what looks like a permanently high plateau"...Originally posted by Mega View Post
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Re: ...........and i thought we were a wash with oil.
Originally posted by GRG55 View PostYep, to paraphrase Irving Fisher, "Oil prices have reached what looks like a permanently high plateau"...
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