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March 06, 2008

Comments

Your comment on that "its devaluation, stupid" both here and in previous posts doesn't seem to add up when this chart of euro v. oil prices is examined.

For that matter, the chart of oil v. almost all major currencies shows the uptrend....

http://europe.theoildrum.com/node/3106

You dare question the Great and Powerful Choke? Pay no attention to the data behind the URL...

Just kidding. Actually my chart and yours are excatly the same. Reltive to Jan 06, oil today has $84 of its worth attributable to exchange rate, in 6 months it will be $92 if things go the way they are going. Relative to July 06, oil is flat to Euro and ahead significantly in dollars. In any case, the exchange rate is a huge contributor to the oil price, and I posit that the "low" price we saw prior to this "high" price relative to exchange rate is the cyclical aspect of all arbitrage investment.

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