“The price of crude oil has risen in terms of these national currencies,” notes James Turk of goldmoney.com, “but remains essentially unchanged in terms of gold:
“Crude oil is not becoming more expensive; rather, the purchasing power of national currencies continues to diminish. In fact, the price of crude oil has remained essentially unchanged for decades, when measured in terms of gold.
“The price of crude oil in 2008 will remain more or less the same in terms of gold,” Turk predicts, “somewhere around 3 gold grams per barrel.”
“Crude oil is not becoming more expensive; rather, the purchasing power of national currencies continues to diminish. In fact, the price of crude oil has remained essentially unchanged for decades, when measured in terms of gold.
“The price of crude oil in 2008 will remain more or less the same in terms of gold,” Turk predicts, “somewhere around 3 gold grams per barrel.”
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