In the last two decades, even though gold prices have dwindled from $850 to $350 an ounce, there are still market gurus who predict gold price to hit $3000 an ounce. Hecla seems to be quite bullish about the future.With oil prices fluctuating between $40 and about $60 a barrel, the industrialized nations are totally dependent upon the foreign oil supply. The US government has a deal with the Saudis for that very purpose. The Saudis have to keep the oil flowing and we, in turn, will keep the monarchy in power. This is a healthy arrangement for both parties in the short run.I have a serious problem with the $3000 an ounce gold price. If this prediction were to come true, what shall be the interest rate? Can someone answer it for me?In contradiction to this Saudi deal, the Bush Administration is committed (not officially) but morally, according to the pronouncements of G.W. Bush to stabilize the entire Middle East region by establishing democratic systems of government in a decade.We can’t have it both ways. We have not succeeded to find any viable sources of alternative energy thus far. The environmentalists won’t let us dig for oil and the… Read full this story
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