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  • fed_up_c_ws fed_up_c_ws May 6, 2010 12:35 PM Flag

    Is the Euro Greece or Oil for TOT?

    This sell off is as ridiculous as the idea of the dollar as a safe haven. Black gold is probably the best safe haven. I wonder if we will hear anymore calls for oil to be priced in Euros? Which reminds me, I bet there are a lot of Middle Eastern sovereign wealth funds taking it on the chin this week. Will we see $5/gallon oil in a couple of months, to make up those shortfalls?

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    • Earning are important but so is the percetion of the strenghth of your balance sheet. Enron accounting is still alive. There has been too much automatic extension/renewal of debt worlwide. Also there are "piles of toxic debt" disguised as buy/sell transactions using derivatives. Paper money is doomed along with industrial commodities. Gold is now trading as a currency. You can't print gold. Protect yourself from paper money.

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