Posts Tagged ‘uso

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/

06
Jan
09

i’m betting on OIL in 2009

based on the fact that the gov’t is printing TONs of money + the fact that the world economy hit bottom this fall, I am throwing my hat into the commodities speculation game. Bought a few lots of USO, or the fund that tracks the price of OIL.

Since the world oil market does ALL its trading in US Dollars….the more US dollars there are in the world……the more expensive oil becomes….lets see what happens 12 months from now…Oil could be $150 a barrel again easily…

oil1




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