19
Mar
09

oil finally rallying…

excerpt from article:

NEW YORK (AP) — Oil prices hit news highs for the year Thursday after a decision by the Federal Reserve to spend billions snapping up U.S. bonds sent the dollar tumbling.

Oil is priced in dollars and when the U.S. currency weakens, it essentially makes crude cheaper.

finally….our inflationary monetary policy is pushing my USO oil etf investment back into the black.

here’s my original post about oil back in january

http://culturalcapitalism.com/2009/01/06/im-betting-on-oil-in-2009/


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