Momentum gains in favour of pricing oil in currencies other than in Dollars as confidence erodes in the Greenback as the premiere choice reserve asset. Much higher commodities is the price we all must pay for being willing participants in the scam that was perpetrated on the world by US Financial Insitutions who for decades, sold investors massive amounts of paper backed by nothing of intrinsic value ie. derivative-based promises that could never be honoured by insuring agents the likes of MBIA AMBAC etc. The result today is the inevitable huge reflexive movement of "smart money"; towards refuge into assets that *do* have intrinsic value - namely tangibles and not just US treasuries. The flight of global capital into unconventional harbours of safety has only just begun & this has Wall St quaking in it's boots. Most people who thought $20 Silver was laughable a year ago, might think the same of those who today suggest $50 is in the bag by 2009. If $1650 Gold is only the beginning, then even $50 Silver will seem cheap in the not too distant future and you will not want to be out of ECU when the fun begins after the hedge funds come onto our side beginning this year.

http://www.iht.com/articles/2008/02/25/business/place.php