Fed is Trying to Keep the Money and Credit Moving

Commodities, Food, Oil and Gold
By Bill Bonner / The Daily Reckoning
This morning, oil is over $120...and the price of gold is pushing back up to $875. That's good news, say the headlines. Oil is up because people think the United States will avoid a recession. "Oil tops $120 a barrel as U.S. optimism rises," says a headline in the Financial Times. And many think the Hillary/McCain summer gas tax holiday concept may be implemented - which would encourage people to use more gasoline!
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Posted by Editor at May 8, 2008 04:02 AM