March 18, 2011

Oil Prices Are Going Up Because Of The Federal Reserve

Oil prices were going up regardless of the events in the Middle East, so it was bound to happen anyway. It was a catalyst, but if it wasn’t that, it would have been something else. Oil prices have been trending up for a while, and so are other commodities. And that’s going to continue.

It’s a result of the Federal Reserve, and of other central banks that are following the Federal Reserve’s lead. Monetary policies around the world are too loose. Central banks are printing a lot of money, and so prices are going to keep rising. - in indexuniverse

Related: United States Oil Fund (USO), Exxon Mobil (XOM), Murphy Oil (MUR), IPath Crude Oil ETF (OIL), SPDRS Select Energy ETF (XLE), ConocoPhillips (COP)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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