Today unleaded petrol broke through the £1.00 per litre barrier generally for the first time ever. Peak Oil effects are hitting much quicker than anyone dared guess just a year or two ago. Hang on tight, because this is just the start!
Other welcome news today is that General Motors, a dinosaur American company, has posted third quarter losses of 39 BILLION dollars. Getting the message? The oil economy is heading towards the rocks, and there's nothing anyone can do about it. As always my advice is prepare ...
Hopefully you've invested in gold and silver as I recommended. Silver has risen 10% in just two days, gold is up to $820/oz. I'd still recommend buy, in dips if possible. Of course physical silver and gold has become much harder to find over the last few months, the price has risen steadily since August, so you'll have to search around for it.
My forecasts were for petrol at £1.10/litre and gold at $900/oz by the end of December 2007. I think both will fall just short, but remember most other people were recommending property LOL! And they were whinging when oil was about $50 a barrel! Again, this is just the start. I think we've all been over cautious in our predictions of both climate change effects (see positive feedback loops) and Peak Oil (it may well already have peaked). Keep switching paper to gold and silver, look for that land, learn how to defend yourselves, network like buggery and clear all your debts. We're talking survival now ...
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