Comment 60411

By A Smith (anonymous) | Posted February 28, 2011 at 16:51:50

Copper was up by more 433% from Jan 2001- Jan 2011. In that same period of time, oil was up only 257%.

Coal is up 341% from Jan 2001- Jan 2011...

U.S coal prices are up 125% from 2000-2009 in a poor economic time period. From 1981-2000, in a good economic time period, they dropped 25%.

In 2006, world coal consumption was 3.09 billion tonnes. At that rate of consumption, the world has 287 years of proven coal reserves. And yet coal prices keep going up just as oil prices go up.

It's not just oil, it's everything that is seeing price increases. This doesn't prove we are running out of everything, it proves that the Fed is printing too many pieces of paper. Even Alan Greenspan is saying a move to a gold standard would be helpful to reduce prices...

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