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Gold based IRA?

Kane said:
What is this "final decision" on an alternative fuel? Just who will be making this decision? How is a 'fuel' related to a form of monetary transaction? WTF?

To think fossil fuels will 'go away' is naive. To think some other fuel will take the place of cheap fossil fuels overlooks the obvious. Man's greed will intervene. Batteries cannot heat a home. Solar power cannot run a factory. Fuel cells are a myth. If anything, invest NOT in batteries or natural gas, but in the construction of the missing infrastructure.

But by his greed, Man will burn ALL of the planet's fossil fuels ... every last drop of oil ... every last wiff of natural gas ... every last chunk of coal. Get over it.

My money is in oil. My wealth is in gold.
Click to expand...


Based on current rates of consumption, we only have enough oil left in the ground to maintain the status-quo for 60 years. After that, we hit a steep slippery slope.

Now, the claim that the planet is running out of oil is, indeed... an exaggeration. The fact is, an oil field is abandoned and considered "Dry" after only 30% of the oil has been extracted. After that, it won't come out of the ground fast enough to make money doing it. Obviously, if they aren't going to make money doing it..... they're not going to do it. Therefore, the planet is NOT going to "Run Out" of oil, but from an economic standpoint..... yes, it is.

The oil industry knows this and have been the BIGGEST INVESTOR in alternative fuels. In order for the oil industry to survive for centuries, we HAVE to get off gasoline. We all need crude oil for more than just automotive fuel. (Oil, grease, commercial and industrial solvents, plastics... etc)

"Fossil Fuels" are NOT going to "go away" as you put it..... but it is imperative that we stop using the Lion's share of crude oil for gasoline. The future of the oil industry depends on it.

And down is the only place Gold is going to go, at this point. As the economy improves, Gold will slide... and will likely settle back down around $600.00 or so. (Within the next 2-3 years).

Oil, at the moment... is a great place to be, right now. If you're heavily invested in American oil, you're doing good. (And will be for a while).
 
Don Coyote said:
Based on current rates of consumption, we only have enough oil left in the ground to maintain the status-quo for 60 years.
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Nope, we hit peak oil years ago. Ppphhhhtttt. Seriously, you believe that?
You also believe oil came from dead dinosaurs as well, correct?
 
waybomb said:
Nope, we hit peak oil years ago. Ppphhhhtttt. Seriously, you believe that?
You also believe oil came from dead dinosaurs as well, correct?
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"Jack The Ripper"s name was Francis Tumblety.

"Bigfoot" as featured in Bob Patterson's 1967 film was a man in a suit. His name is Bob Herimonius.

The Olympic is the ship that sank in 1912 after hitting an iceberg. NOT the Titanic. It was the biggest insurance fraud case ever executed, after the Olympic sustained catastrophic damage after running aground after a collision with the RMS Hawke in 1911.



Your automobile's engine is controlled by 38 sensors and a computer because 87 octane isn't even considered "Gasoline". Today's "Premium" grade gasoline doesn't compare to what I used to burn in my first car. Are you old enough to remember "Leaded Regular"? This was the CHEAP stuff..... and it was 98 octane!!! The reason we haven't already hit that slippery slope I mentioned earlier is that we managed to extend the planet's supply of crude by reducing the quality of gasoline by about half. We made our cars run on SHIT gas.

..... Do you think your car is computer-controlled for efficiency and environmental cleanliness? .....Ppphhhhtttt.


The 87 Honda Civic got 56 miles per gallon because it still ran on REAL gasoline. Hell,..... my 1974 Volkswagon Beetle got 34mpg..... better that any car I've owned since 1992.

We're passed Peak Oil. That's the only reason the USA is finally tapping it's underground supply. We're going to be the LAST supplier left before the "Weaning".


But don't just take MY word for it..... lets let this thread sit idle for about 5-10 years and we'll see what the world looks like, then.
 
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[FONT=Verdana, Arial, Helvetica, sans-serif]If the Liberals would leave us alone, America would be energy-independent. We have yet to discover just how much oil we have at our disposal.

Alas, fucking Liberals.

Massive Oil Deposit Could Increase US reserves by 10x
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[/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.[/SIZE][/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel. [/SIZE][/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938. [/SIZE][/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.

BTW, precious metals have been the trusted form of barter since the dawn of man. It will always be so. Fiat currencies are unsustainable.
[/SIZE][/FONT]
 
Kane said:
.....If the Liberals would leave us alone, America would be energy-independent. We have yet to discover just how much oil we have at our disposal.
Click to expand...


No,..... we KNOW what we have, and HAVE KNOWN for decades.

We've been sitting on it for a rainy day.

.....It's starting to sprinkle. :whistling:
 
In fact....... if gas hits $1.29 a gallon, Gold will hit $400.00 an ounce.

(An interesting fantasy to entertain). :neutral:

.....Bring it on.

:tongue:
 
My point is,..... If gas prices revert back to pre-war rates, the economy will accelerate to warp speed. People will celebrate the extra money they have in their budgets and pockets.

..... And gold will lose it's unnaturally high value.

But of course..... gold will rebound again at the start of the NEXT recession.
 
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