Sunday, February 17, 2013

There Are Too Many Fiat Currencies Being Printed

“Sentiment is fairly weak at the moment, even while the fundamental picture is improving. Look at some of the evidence. For example, Brent crude is at a 9-month high and approaching $120 per barrel. All of the usual excuses for this price rise are being given, like strong demand from China, lower OPEC production, and ongoing concerns about political instability in North Africa.

These factors are having an impact of course, but what is being ignored is the most important explanation because people aren't paying attention. There is no shortage of crude oil. Rather, there are just too many dollars, euros, pounds and other fiat currencies being printed by central banks...."

- James Turk via a recent King World News interview, read the full interview here: