The rise and fall of oil

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Clinton never caused oil prices to rise by 6x.

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    22 Responses to The rise and fall of oil

    1. Yeah? well bush never got a blow job, so there.


    2. I’m reading the Shock Doctrine by Naomi Klein. She gets into the Asian market crash as being a function of Clinton’s policies and the IMF. That sparked the current rise (per this chart).

      It’d be crazy to not blame the Bush administration for our current prices at the pump. Gas was $1.18 on sept 11, 2001.


    3. you know, if you look at a chart of the price of GOLD, it looks the same. in fact, if you compare the price of OIL with the price of GOLD, they are FLAT.


      and since the dollar is now based on an imaginary number that the FEDERAL RESERVE determines, and since the FEDERAL RESERVE has created 15 trillion extra dollars since the 1970’s when we fully went off of the gold standard, YOUR MONEY IS WORTH SHIT.

      this simply means that if your money was still based on GOLD and CONGRESS still printed our cash, as the CONSTITUTION demands, then the price of OIL would NOT be what it is today.

      in actuality, you would still be paying under a dollar for a gallon of gas and under $20 for a barrel of OIL

      your money is LOSING value so the price of things valued in dollars will RISE

      if your money was based on GOLD, your $1 bill would be worth $3-4 compared to just 10 years ago


    4. when we were on the gold standard in the 1890s, we faced a series of depressions. going to bimetalism stabilized the currency. The US has had an on-again, off-again relationship with silver currency, but silver has risen in price dramatically as well and now we have faith based money.

      it pisses me off that canada’s money is on parity with ours. it’s a matter of time before we get $2 coins.


    5. It makes me happy that the dollar’s in the shit.

      It makes everything cheap in Euro.


    6. silver is priced in US dollars as well.

      that is why the price has risen


    7. “as the CONSTITUTION demands”
      Gold standard is not in the constitution, stupid. The only time gold is even mentioned in the constitution is Section 10 to prohibit the states from issuing anything but gold or silver coin.


    8. Lol… yeah, Clinton did it. Of course. As long as we’re going back in the time machine, why not blame Bush Sr. or Reagan? Oh wait, it’s cuz the loony right doesn’t have an irrational, all-consuming hatred against those two.


    9. I think we should blame the communists.


    10. @Luke V1-5

      What did we ever do to you?


    11. @Silver

      Hello. My name is Inigo Montoya. You killed my father. Prepare to die.


    12. @ deuce –
      Naomi Klein is on the left. Clinton’s economic policies mirror those of Milton Friedman, who was a right wing nutter. Bill Clinton was a very conservative democrat and there are plenty on the left who dislike him. Many on the right dislike him for stealing some of their issues (such as welfare reform).

      I was referring ONLY to the Asian meltdown that precipitated the rise of China as a dominant manufacturing center, but if you want to talk roots, let’s blame Millard Fillmore for Asian adventurism.


    13. Will somebody just throw a fucking punch already?


    14. Actually, we went solely on the gold standard in the 1890’s-1910’s because America saw a silver standard as “inferior;” in fact, developing countries that were on the silver standard at that time were encouraged by the US to change to the more “superior” gold standard.

      /just finished reading “Spreading the American Dream” by Emily S. Rosenberg for an American Studies class. Woo, I love summer school.


    15. So I assume Bush is responsible for the price of oil in Europe and Asia too? Oil prices are sky rocketing worldwide.


    16. I’m just happy that whole terrorist problem has been sorted.


    17. Correlation now equals causation, yay!


    18. I don’t understand maths, so I’m just going to say that oil companies are trying to dick us while they can, until Obama gets into offices and brings the smackdown with him.


    19. @ Reboot; please refrain from being an idiot. also, re-read Section 10. that clause reads:

      Section 10 – Powers prohibited of States

      “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts”

      that is why you USED to be able to take your shitty PAPER money into a bank and they had to give you GOLD OR SILVER coins for your inherently worthless paper. the paper notes simply stood in for the gold pieces.


      /cruise control


    20. also, Nixon took us totally off og the gold standard in 1971.

      now go look at the chart above.



    21. fuck, frogurt.

      the price of oil worldwide is going up BECAUSE OIL IS VALUED IN US DOLLARS and US dollars are LOSING value. so ANYTHING priced in US dollars will cost more as the value of the dollar falls


    22. natedog, how can you actually type that out and not see the problem?
      “No STATE shall… make any Thing but gold and silver Coin a Tender in Payment of Debts”
      Section 10 doesn’t apply because there are no STATES that are issuing currency. The same restriction does not apply to the feds.


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