2 July 2008
Energy Independence Day
Posted by Joy Bischoff under: World Economy .
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10 Comments so far...
Bryon Says:
2 July 2008 at 10:58 am.
I think I have another guy on my top ten favorites. He is up there with George Washington Carver, and he invented peanut butter! Thats not sarcasm. George Carver was a genius.
T. Fan Says:
2 July 2008 at 11:02 am.
Newt is right on when he talks about speculators betting against The United States. Let’s watch this become an explosive topic for the elections.
Pickles Says:
2 July 2008 at 11:51 am.
It aint rocket science folks. What’s the problem, are liberals total idiots or what?
THINKING Says:
4 July 2008 at 10:53 pm.
This fellow led the pack for NAFTA…nice wolf in sheeps clothing. Ron Paul has proposed a law in congress to eliminate many barriers for drilling for oil etc. But how many congressmen co-sponsored? Only two others that I know of. Hopefully many others have followed or will follow his lead.
Cavetrollhead Says:
5 July 2008 at 10:14 am.
I am on board with that. Good for Ron Paul.
As for Newt, I don’t like the government punishing speculators. This idea of betting against the USA something warranting punishment? That is in principle wrong. Using the government to hurt speculators? They haven’t broken any law. I don’t like that.
Someone tell me why that is OK – I am open.
Otherwise, I like what he said.
T. Fan Says:
5 July 2008 at 11:43 am.
Cave, I don’t think speculators should be punished but I think he is right that they are betting against the United States. I think if oil rices fell then their punishment would be the consequences for their actions of helping to raise oil prices. My conscience wouldn’t allow me to be an oil speculator because it is flat out hurting people. I don’t like the system the way it is for oil because of the consequences of senselessly driving upprices.
Cavetrollhead Says:
5 July 2008 at 1:58 pm.
I wouldn’t mind seeing them lose their shirts, though I don’t wish them to. But Newt sounds like a fascist when he wants to purposely punish people for playing by the rules.
They are investors playing the market, and they are playing by the rules. You can change the rules but you can’t punish Ex post facto. It just isn’t right.
This is the danger of Crisis, the constitution gets swept under.
Cavetrollhead Says:
5 July 2008 at 2:03 pm.
Although it is only the sentiment that is Ex post facto. Dropping oil prices , not to punish people but to help people is great.
THINKING Says:
5 July 2008 at 4:43 pm.
Betting against the US is only logical. When the USA grants to the Private entity “The Federal Reserve” such power. Here is some good info about fiat money (eg. Federal Reserve Notes or paper currency that is as valuable as monopoly money once people loose faith in it.)
Gasoline’s not going up; the fiat dollar’s going down—which should come as no surprise since the value of the fiat dollar has been in a constant state of decline since A.D. 1933. The surprise is that under today’s 15% rate of inflation, the fiat dollar’s value is going down rapidly.
Because the fiat dollar has no assured (fixed) value, it cannot store value over time.. Therefore, prices for gasoline and most other goods and commodities are rising. It appears that the primary distinction between real money and fiat money may be their comparative abilities to store value over time. Fiat money can’t. Once it starts to lose value in double-digit inflation, people begin to abandon it. And once they begin to abandon the fiat money, where will they almost inevitably go? Back to real money: gold and silver.
“While productivity is doing more with less, fiat money allows governments to do more with nothing. Fiat currencies are a way for governments to spend what they don’t have; and while counterfeiting by individuals is a crime, passing government coupons off as money is legal because governments make the laws.” From Bob Chapman
Saddened Says:
5 July 2008 at 5:28 pm.
Maybe I don’t understand but it would seem to me that since our dollar is pretty much unofficially tied to oil. So if we had lots of domestic oil then the dollar would be more stable.
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