Re: Oil is cheap
- From: The Ghost In The Machine <ewill3@xxxxxxxxxxxxx>
- Date: Tue, 04 Jul 2006 21:00:03 GMT
On Sun, 02 Jul 2006 08:45:20 -0700, joe_avery_2005 wrote:
Oil is priced is USD. I suppose the US can print large amounts of USD and
purchase as much oil the economy needs.Then, lower taxes to reimbursement
its consumers for the high prices while the rest of the world, like the
EU, keep on raising taxes on income and gas.
Oil is cheap at $75 or even $275 unless it is prices in gold.
Joe
The taxes on $3.00/gallon a gas amount to about $0.60 at most, and a
goodly chunk thereof is state sales tax. This is a 20% reduction, which
isn't all that much.
If one prints large numbers of USD (or any currency), one gets
hyperinflation, as evidenced long ago by the Weimahr Republic, which was
the predecessor to Nazi Germany -- and a very sorry Republic it was, too.
As for oil vs. gold....an interesting question. I'd have to research it.
--
#191, ewill3@xxxxxxxxxxxxx
It's still legal to go .sigless.
.
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- From: joe_avery_2005
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