Gold down 10% and falling, Oil Next

The world is seeing financial deleveraging on an unprecedented scale in living memory.
We are in the beginning of a severe recession.

Most commodities peaked in March and have now turned downwards.
They will continue to fall as the speculative bubble deflates and actual demand wines in the recession.

Oil will be hit as well.
Oil has to a large extent been driven up by speculation, a bubble.
This will burst, and that will be sudden, a sharp fall followed by a long decline.

Do not be surprised if it falls to USD 90-80-70-60 and down to seeing USD 50ties in the downturn thats coming now.

The Norwegian oil sector will bleed, the NOK will take a hit.
As oil falls I expect the Oslo Børs Stock Market index to fall down to the 200eds.
Prepare accordingly.

Hans Lysglimt

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  • By Østerrisk Økonomi on 3 October, 2008 at 7:57 am

    […] I januar 2008 mente vi Oslo Børs skulle falle ned på 200 tallet. Vi mailer flere store norske avisredaksjoner om dette, de vil finne mailene i sine arkiver når de søker. Ingen har nevnt dette, ingen har tatt kontakt med oss siden. Vi er vel ikke “fine” nok forde vi ikke jobber i en “fin” bank eller et “fint” meglerhus. Mailene fines i arkivet… det er bare å søke dem opp. Vi fortsatte å gjenta 200 tallet utover våren, som her den 24 mars. […]