DrStool Posted March 2, 2003 Report Share Posted March 2, 2003 High oil prices because the US took sides with Israel Ugh. This gets so tiresome. Oil prices were high because the US money supply and inflation were exploding, not because the US "took sides with Israel." And what should the US have done? Israel was surrounded and attacked by its enemies on all sides. I suppose the US should have sided with Egypt, Syria, and Jordan so that we could get cheap oil again. Now, we are not going to get into that argument here, but if you expect me to let an uninformed statement like that go unchallenged, I am afraid you have underestimated me, sir. Again. Link to comment Share on other sites More sharing options...
Fartpolio Manager Posted March 2, 2003 Report Share Posted March 2, 2003 High oil prices because the US took sides with Israel Ugh. This gets so tiresome. Oil prices were high because the US money supply and inflation were exploding, not because the US "took sides with Israel." And what should the US have done? Israel was surrounded and attacked by its enemies on all sides. I suppose the US should have sided with Egypt, Syria, and Jordan so that we could get cheap oil again. Now, we are not going to get into that argument here, but if you expect me to let an uninformed statement like that go unchallenged, I am afraid you have underestimated me, sir. Again. OK, let's not have that argument... here... But, if you care to continue it some other place, I'd be happy to debate or not debate that point... I guess your position is that our policies in the Middle East have no effect on the economy, oil prices, and gas lines and such... Link to comment Share on other sites More sharing options...
FeedFool Posted March 2, 2003 Report Share Posted March 2, 2003 If I remember correctly Arabs were not happy supplying the oil to the west and they had to send crooks to sort out the problem. Since industries wheels were coming undone. What do I know? I was pretty young. Why would America station troops in Saudi? Could it be they are after the sand to keep the housing bubble from collapsing? Bush has housing in his mind since he is from Texas. Sorry doc. I had to say my mind. Link to comment Share on other sites More sharing options...
FeedFool Posted March 2, 2003 Report Share Posted March 2, 2003 Fartpolio Manager I have also seen order pick up since Dec. because stocks were run down so low. Buying only to fill the rundown inventories. 2-3 months does not make a trend. What we have is a slow motion crash going on which I have never seen before. Link to comment Share on other sites More sharing options...
DrStool Posted March 2, 2003 Report Share Posted March 2, 2003 OK, let's not have that argument... here... But, if you care to continue it some other place, I'd be happy to debate or not debate that point... I guess your position is that our policies in the Middle East have no effect on the economy, oil prices, and gas lines and such... Yes, that is correct. It has always been about preservation of the purchasing power of a barrel of oil. Nothing more nothing less. And I assume that your position is that if we would have helped the Arabs push all the Jews into the sea in 1973, that none of the problems with oil prices and the depression in Silly Con Valley today would have occurred. After all, you found the perfect connection in the Silly Con Valley economy to let everyone know exactly whose side you are on in the Middle East debate. I am sure everyone sees the connection between the Silly Con Valley situation today and the fact that the US did not assist the Arabs in pushing the Jews into the sea. I mean it's so obvious to you, it must be obvious to everyone else. Simple. Kill the Jews, and we would have no economic problems. Isn't that the way it has always been. Blame the Jews. Such a convenient target. You wanna debate, big shot? Bring it. Link to comment Share on other sites More sharing options...
Fartpolio Manager Posted March 2, 2003 Report Share Posted March 2, 2003 OK, let's not have that argument... here... But, if you care to continue it some other place, I'd be happy to debate or not debate that point... I guess your position is that our policies in the Middle East have no effect on the economy, oil prices, and gas lines and such... Yes, that is correct. It has always been about preservation of the purchasing power of a barrel of oil. Nothing more nothing less. And I assume that your position is that if we would have helped the Arabs push all the Jews into the sea in 1973, that none of the problems with oil prices and the depression in Silly Con Valley today would have occurred. After all, you found the perfect connection in the Silly Con Valley economy to let everyone know exactly whose side you are on in the Middle East debate. I am sure everyone sees the connection between the Silly Con Valley situation today and the fact that the US did not assist the Arabs in pushing the Jews into the sea. I mean it's so obvious to you, it must be obvious to everyone else. Simple. Kill the Jews, and we would have no economic problems. Isn't that the way it has always been. Blame the Jews. Such a convenient target. You wanna debate, big shot? Bring it. No that would not be my position...at all, not even close... my statement was real simple, the higher oil prices were attributed to the Arabs reaction to our policy in Israel and the Middle East... They withheld oil supplies, and that was the excuse... Somehow that statement made me anti-Zionist in your eyes... You sure enjoy harassing me though, so I'll tell ya what... Seeya... Link to comment Share on other sites More sharing options...
DrStool Posted March 2, 2003 Report Share Posted March 2, 2003 Well, you are quite wrong about the cause for higher oil prices. They were a direst result of dollar inflation and the historical suppression of the price of oil by the US oil companies which controlled Aramco. When the Saudis gained control of Aramco, and oil prices could be determined by the market instead of being suppressed by US petroleum interests, that's when the problems started. When US inflation exploded in the 70s, with the money supply and inflation galloping at 8-10%, the Saudis allowed the price of a barrel of oil to rise commensurate with the decline of the purchasing power of the dollars they were paid for their oil. It didn't have anything to do with our policies toward Israel. The embargo was just an excuse. It has always been, and always will be, about the price they get for their oil. As for me enjoying harrassing you. I sure as hell don't "enjoy harrassing" anyone. But if you piss me off, then yes, you'll hear about it. Correct me if I'm wrong, but I have the distinct feeling that you enjoy pissing people off. If I point out that sometimes anopinion of yours happens, in my view, to be off the wall, well, that's how the cookie crumbles. If you want to dish it out, you better be prepared to receive it in return. And I am not subtle about it. I'll try harder to be kinder an gentler in the future. I think that when somebody says that our economic problems were caused by the fact that the "US sided with Israel," that there is only one logical inference that can be made from that, and that is that we should have sided with the Arabs in 1973, and all would be well. If I inferred something which you did not mean to imply, then I stand corrected. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted March 2, 2003 Report Share Posted March 2, 2003 I would have to side with Doc on this one. The dollars which were being paid to OPEC for a bbl of oil were buying less and less gold, so they raised prices to get the oil/gold ratio back in line. Full article: Gold and Oil Gold and Oil II Link to comment Share on other sites More sharing options...
DrStool Posted March 2, 2003 Report Share Posted March 2, 2003 I apologize for this discussion, but I had to respond. Perhaps some people simply aren't aware how emotionally loaded statements like that are. So I will just attribute it to insensitivity and leave it at that. And maybe I'm just plain wrong in attributing negative motives to the statement. Anyway, I apologize for involving everyone else, but unfortunately, if it comes up again, I will answer again. I would only ask that you carefully consider the implications of, or rather the inferences that might reasonably be drawn from, those kinds of statements. The poster who made the post was not the first I have repsonded to in this way. I wish he would be the last, but I know it's not to be so. If he wants to respond again, fine. Otherwise, let's drop it. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted March 2, 2003 Report Share Posted March 2, 2003 Actually, although it is sometimes irritating - letting people spout off gives a chance to respond and hopefully inform and be informed that one''s own views are not necessarily all there is to understanding a particular event or phenomenon. In this case, by following the money (real money, not debt) you can easily see the point - OPEC members thought of oil priced in gold, even if it was nominally priced in dollars. Simple. Some people prefer complicated explanations. Anyway, I think the articles give a full explanation to those with open minds. Link to comment Share on other sites More sharing options...
alceringa Posted March 2, 2003 Report Share Posted March 2, 2003 Alceringa! So happy for you! Terrific you got out of Dodge. Where are you now? Living Here Now Link to comment Share on other sites More sharing options...
mjkst27 Posted March 3, 2003 Report Share Posted March 3, 2003 OK, rant on. WHY THE F IS ALL THIS POLITICAL NONSENSE BEING POSTED ON A FINANCIAL BOARD? Everyone and their friggin dog has an opinion about political affairs, especially historical events. Nothing constructive comes from it. Lay people, and most politicians know nothing. Who cares what you think? Just like in real life, it all boils down to ego "no, my opinion is right galdamnit!" YES, GO AWAY......PLEEEZE We are here to discuss making $. And another thing. WHY DO PEOPLE THAT POST ON INTERNET CHAT BOARDS GET PISSED ABOUT WHAT OTHER PEOPLE POST ON INTERNET CHAT BOARDS? For all you know, the other "people" posting on this board could actually be mentally ill chipmunks. Sometimes I let my cat scratch at the keys, just to let him get his opinion off on somebody. The posters might be robots. Or aliens. Or computer programs. Those who are people, are likely just acting out, living vicariously. Why would you take what they type to heart and react in any sort of disagreeable manner? Who cares? People who can't handle an internet post that disagrees with their view of something they cannot possibly be an authority about are weak minded and have little self esteem. IMO rant off some one please close this thread Link to comment Share on other sites More sharing options...
ThorAss Posted March 3, 2003 Report Share Posted March 3, 2003 I have deleted Fartpolio's post here, not because I'm a control freak or believe in censorship or didn't agree with the content (although I wanted to respond to it), it's just that it was blatantly political and I'm sick of reading politics on LOB. So if you want your little missives read by all, please put them in the right place. Link to comment Share on other sites More sharing options...
ThorAss Posted March 3, 2003 Report Share Posted March 3, 2003 ... and on that note I do hereby close this thread. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.