Crude Oil = $145 (The Trichet Oil Rally)

Thursday, July 03, 2008 | 06:00 AM

Wow -- this is amazing. It shows no sign of stopping, which of course, it eventually must. 

Here's a question -- at what point does ECB Central Bank Chief Trichet realize that every time the ECB hikes rates, it pummels the dollar and sends oil higher?

Let's rename this the Trichet Oil Rally!

Crude Oil, August Futures
Crude_aug

via Barcharts.com

>

Previously:
The Costanza Energy Policy: 25 Ways to Drive Oil to $150 (May 2008)
http://bigpicture.typepad.com/comments/2008/05/how-to-drive-oi.html


Related:
Will Trichet drive the world over a cliff?
Ambrose Evans-Pritchard   
Telegraph, July 2, 2008, 04:41 PM GMT   
http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2008/07/02/will_trichet_drive_the_world_over_a_cliff

Are Trichet's Rate Hikes 1930 All Over Again? 
Yves Smith
Naked Capitalism, Jul 3, 2008
http://www.nakedcapitalism.com/2008/07/are-trichets-rate-hikes-1930-all-over.html

Trichet Adopts Greenspan Policy as ECB Attacks Prices
Simon Kennedy
Bloomberg, July 3 2008 
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQHtTYGdxKcM&

Trichet fears worst for eurozone inflation
Gary Duncan
Telegraph, July 2, 2008
http://business.timesonline.co.uk/tol/business/economics/article4256486.ece

~~~


Thursday, July 03, 2008 | 06:00 AM | Permalink | Comments (66) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c52a953ef00e5539f9f988834

Listed below are links to weblogs that reference Crude Oil = $145 (The Trichet Oil Rally):

Comments

"Here's a question -- at what point does ECB Central Bank Chief Trichet realize that every time the ECB hikes rates, it pummels the dollar and sends oil higher?"

Here's another question - at what point did the fundamentals for the dollar start to go down the drain? When the ECB started raising its rates? Trichet is an ECB banker, the ECB is controlled by Germany just like the Bundesbank used to control Europe's central banks before it and they do one thing: worry about inflation!

While this worry might not be justified at all times and the reaction to it certainly arguable...it is hardly the reason for the death of the dollar!

Instead of inferring Trichet is destroying the dollar because of a pointless rise in the euro rate you might want to think about so many things that you frequently post here: the ridiculous number twisting of the main stream media, misreporting of key figures by the FED and the federal government, twin deficits, ludacris spending, excessive lending, the removal of the glass-steagall act, the total retreat of any supervisory agencies, printing money like there is no tomorrow, artificially low interest rates and of course the NO BANKER GETS LEFT BEHIND bailout philosophy the FED seems to have adapted...

Trichet sinking the dollar? Gimmie a break!

Posted by: Pete | Jul 3, 2008 6:44:18 AM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner