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As soon as i saw reference to a oil/gold ratio i stopped reading.
Dec 17 16:20 pm
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All Comments by ANTS »Oil Majors Should Just Buy Real Gold [View article]
How anyone reconciles the effect of supply/demand on prices, and then refers to such ratio analysis is beyond me. My pet question refers to the 3 Magi and Christmas (appropriately enough). The three gifts were gold, frankincense and mir (sorry if the spelling is wrong). The question is, what was the ratio of gold to oil in those days, and by extrapolation, what is the long term ratio of oil to frankincense ?
No answer, usually (most times because no-one even knows what the other two substances are, much less why they were deemed to be comparably as valuable as gold).