It was once said that "gold and oil can never flow in the same direction". If the current price of oil doesn't change soon we will no doubt run out of gold.
The Western governments needed to keep the price of gold down so it could flow where they needed it to flow. The key to free up gold was simple. The Western public will not hold an asset that going nowhere, at least in currency terms. ( if one can only see value in paper currency terms then one cannot see value at all ). Another, 5 october 1997
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FOFOA, as you will doubtless already know, published a couple of superb articles which focussed on an in-depth analysis on the Gold for Oil theme, and indeed the back-room dealings and dynamics which prompted various moves in the agreement. I recall one article being entitled: 'It's the flow,stupid'(senility creeping in, can't recall title of second but was at same time)... brilliant,eye-opening analysis. As ever, with FOFOA (and his two predecessors). Most impressed by your knowledge and the clear case you make.
Thank you,
You must be referring to "Flow Addendum". As it was topical when it was written, still is it today!
Regular follower of FOFOA for a couple of years now. Even though it isn't always easy for non-native speaker to follow everything as good as I would like. But with a little practice and a lot of effort it is always possible to figure things out.
The case I want to make is clear. There's only one problem, there aren't that much people showing where to look. Hope To be just a humble part of it,
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