Gold price, page-630

Hi @sydney Excellent points. I have discussed the shale oil wars on GOLD board many times. You and I both know that this is a determined effort by Saudi to deny the US energy independence for the first time in living memory (and foreign policy independence too, for that matter), and won't end until US hi cost producers end up filing for Chapter 11 Bankruptcy protection. And they are winning this war.
Even if it cripples other OPEC members (OPEC is broken anyway). And of course, they are heavily in debt, and we know who is holding all that paper. The banks say its only a small part of their loan book (compared, say, to 2008-2009 with CDO's) but who can say?
I think we are in clear agreement here.
However if the price rise can be sustained, by whatever means...those shale oil producers might be able to stay above water.....