[TheForge] Price of steel & scrap

Thu Apr 8 19:54:01 2004

>In a message dated 4/7/2004 10:08:41 PM Pacific Standard Time,
>[email protected] writes:
>What no one seems to recognize is that the rise in steel and fuel prices
>>we are seeing , are in substantial part, due to the recent, deliberate
>>devaluation of the dollar. Bush may say that the national debt doesn't
>>matter, but..............Pete F
>>
>>Mike wrote:
>A good point. I think it is all of the factors put together. What they all
>have in common are short sighted, very selfish attitudes. Perhaps 
>that is where
>the expression "blind self interest" comes from.
>Mikey

Yes most of the commodities price increases in the past couple of 
years track the devaluing of the dollar with an almost 1:1 precision. 
Gold, platinum, copper, steel, gas and oil  Check out  the historical 
charts of pricing in dollars and euros and you will see that the 
prices pretty much track the fall in the dollar. It is not a prefect 
correlation but it is damn close.

-- 
Jim Binnion

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