[AT] OT Gas prices new all time high :-(

[Ron Cook]

Charlie......exactly correct.

Ron Cook
Salix, IA

On 3/9/2011 6:51 AM, charlie hill wrote:
> Cecil, I haven't read your link yet but I have two friends in the fuel
> business. One is a large oil jobber that distributes all over NC and has a
> fleet of trucks and multiple tank farms.
> The other is an aviation fuel jobber that provides FBO's at airports all
> over the eastern US.  They both tell me the same thing that I'm hearing on
> the news.  Tankers are loaded with fuel and sitting in the ocean with no
> where to unload and US refineries are running at between 65 and 80 %
> capacity.   The whole reason fuel is high is because our government is
> devaluing our currency and investors are running to commodities to protect
> their wealth.  Gold, Silver, Copper, Oil,  Grain, you name it, are all going
> up relative to the dollar but what is actually happening is the dollar is
> loosing value against those commodities.  The trickle down effects almost
> every economy on the planet.   Everyone thinks the Chinese own all of our
> Treasury notes.  That used to be true.  Not now.  Currently foreign
> "sovereigns" own about 30% of our treasuries.  The FED owns the other 70%.
> Almost none of them are privately held at this point and the sovereigns
> (other countries) are selling them.  The fed is buying them with dollars
> printed by the US treasury in an attempt to keep the whole house or cards
> from collapsing.  If you and I did what the fed and the treasury are doing
> they'd put us in jail for what is commonly called check kiting.
>
> Charlie
>