I believe it’s real and I plan to profit from it, but I’m not convinced it will be responsible for a major cataclysmic downfall of civilization, as some are predicting. If global oil production has peaked, that doesn’t mean oil will become scarce, it simply means oil will no longer be plentiful and cheap.
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Everybody knows a parabolic rise leads to a parabolic decline, the occasional correction is welcome because it helps prevent unreasonable growth and often presents a valuable buying opportunity. The gold chart is replete with 5% and 10% corrections that are quickly erased a few weeks later.
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