Free Republic

With oil now hitting record highs and gold well off mid-May levels, the gold-oil ratio continues to shrink. Today, one ounce of gold only buys 8.57 barrels of oil - a ratio of 0.11.Oil hit a fresh record high of $75.78 a barrel today, boosted by strong demand in the United States and global tension ranging from Iran's nuclear work to North Korea's missile tests. Prices drew early support from a U.S. government report yesterday showing gasoline demand grew by 1.4% in the last four weeks from a year ago, with summer driving months still head. But rebel attacks in...

Gold bugs' only problem on Monday was trying to find which of a myriad of bullish factors to pick to explain yet another move to fresh 25-year highs. The usual suspects -- inflation, geopolitical tensions, and a weak dollar -- were all present at the open of trading after a three-day weekend. Most visibly, crude oil topped $70 a barrel amid heightened concerns about Iran's nuclear ambitions. In recent action, crude was gaining 68 cents to trade at $70 a barrel. Gold for June delivery was recently up $13 at $613.80 an ounce, off an earlier 25-year high at $614.30....

Gold and silver on a tear overseas. Also, oil seems to be breaking $70 a barrel. Anticipating problems tomorrow or just commodities on an upswing?

Love in the treesTom Bombadil and the Ents have buried themselves in little niches and it seems there is no digging them up for new discussion. We should try to change that. The most common question asked about Bombadil is, "Why didn't the Ring affect him?" In reality, that question should be, "Why didn't Bombadil want the Ring." There is a difference. I believe the Ring did affect old Tom, at least to the extent that it roused his curiosity and drew his interest long enough that he had to satisfy himself regarding whether he was still his own master.As...