Lindsey Williams Shock Oil Back to $50 / USA to collapse

[freelance]

The price of oil is not going to fall to $50 a barrel because the price of oil is not related to the supply. It is related to the buying power of the USD. Oil is high because the dollar is low. Oil prices came down some last week because the dollar was stronger.

$50 a barrel oil would only be the result of a much stronger USD.

That assumes that the dollar is the reserve currency. What if oil is no longer traded in dollars?

 

[RickyJ]

So gas is going back to 3 bucks a gallon? OK, but I would prefer 60 cents.

 

[RickyJ]

That assumes that the dollar is the reserve currency. What if oil is no longer traded in dollars?

Then WW3 will start.

 

[Flash]

The whole story he told sounded insane. Lindsey apparently said he wouldn't do any interviews because he was threatened, then he goes on Alex Jones' radio show? come on.

 

[Paulitician]

The whole story he told sounded insane. Lindsey apparently said he wouldn't do any interviews because he was threatened, then he goes on Alex Jones' radio show? come on.

Agreed. His story makes absolutely no sense. It's mere hearsay anyway. "Some guy, a very important guy mind you, told me..." blah blah blah. Someone tell me why I should care what this guy says?

 

[HenryKnoxFineBooks]

I think Peter Shiff has a better track record with predictions

 

[gutteck]

oil its at ~$80 and the economy is beginning to collapse....

 

[pacelli]

I emailed Bob Chapman, the international forecaster about this issue since he had covered the Lindsey Williams prediction in one of his previous newsletters, here's what he said:

Oil has gone down as far as it is going to go for the time being. I’d expect another oil rally based primarily on speculation. Oil prices will probably go lower a year or more from now. OPEC will cut production to keep prices near $100 a barrel due to perpetual dollar depreciation.

It will get to $50 but probably a couple of years from now.
The new fields he mentioned won’t come on for 7 or 8 years.

I specifically sent him the following article to comment on:

http://www.nakedcapitalism.com/2008/10/merrill-oil-may-fall-to-50.html