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Thinking the unthinkable
Mon Jan 10, 2011 02:01
204.111.105.131

THINKING ABOUT THE UNTHINKABLE


Very few people realize that paper money and promises (not to mention silver, gold, and platinum) are worthless as measures of true wealth.Before oil came into the picture, wealth of nations was based on manpower and horsepower. Then, "free" oil came along and made the entire world wealthy beyond counting.

Today, the era of "free" oil is long gone, and even high cost oil is going, going, going to be gone - forever.

But, the world pretends that oil is plentiful, and continues to base wealth on something that no longer exists.

So, perhaps, somebody who has the patience with numbers that I no longer have will do the math for us. Take the total of all the world countries national debts in dollars and convert that to equivalent barrels of oil.

Then, assuming that the dwindling oil production is used for no other purpose, divide that number of barrels (of debt) by the annual production of oil to determine how many years it would take to pay off the world debts.

Post your figures here. We anxiously wait for your answer.

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Without the wealth of oil, the true wealth of the world must go back to being measured in terms of manpower and horsepower.

You live in a luxury penthouse in a high rise building in New York City. Where will you get your food and clothing?





    • Hmmm...Uru Hammer, Mon Jan 10 10:13
      Wealth always protects itself through investment. When oil is devalued, it will invest in something else. As for those of us using cash, the value of our cash is not directly dependent on oil. Uru
      • How valuable is cashcc, Mon Jan 10 11:17
        ...when there is nothing behind it to produce energy to perform work to keep the wheels turning? People can work. Horses can be forced to work. Oxen can be forced to work. Good luck on trying to... more
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