{"id":3337,"date":"2014-12-21T08:55:06","date_gmt":"2014-12-21T13:55:06","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3337"},"modified":"2014-12-21T08:55:06","modified_gmt":"2014-12-21T13:55:06","slug":"a-funny-thing-happened-to-oil-prices-when-nixon-killed-the-gold-standard-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3337","title":{"rendered":"A Funny Thing Happened To Oil Prices When Nixon Killed The Gold Standard | Zero Hedge"},"content":{"rendered":"

A Funny Thing Happened To Oil Prices When Nixon Killed The Gold Standard | Zero Hedge<\/a>.<\/p>\n

For the past 150 years, crude oil prices have varied between around $10 per barrel and around $120 per barrel.\u00a0For many decades, oil prices were relatively “stable” but a funny thing happened in the early 70s and everything changed<\/strong>\u00a0– whether coincidental or causative the linkages between the oil crisis andNixon’s Gold-Standard-busting of Bretton Woods<\/a>\u00a0are clear in the chart below. Goldman expectscontinued high oil price volatility with risks skewed to the downside<\/strong>\u00a0as the market searches for a new equilibrium… and a period of macroeconomic adjustment to structurally lower oil prices.\u00a0Is oil adjusting to a new ‘gold-standard-esque’ normal?<\/em><\/p>\n

\n

\"\"<\/a><\/p>\n

“Stabilitee”<\/em><\/p>\n

\n

As Goldman noted back in July…<\/p>\n

<\/span><\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

A Funny Thing Happened To Oil Prices When Nixon Killed The Gold Standard | Zero Hedge. For the past 150 years, crude oil prices have varied between around $10 per barrel and around $120 per barrel.\u00a0For many decades, oil prices were relatively “stable” but a funny thing happened in the early 70s and everything changed\u00a0– […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[936,1183,2055,592,839],"class_list":["post-3337","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bretton-woods","tag-gold-standard","tag-nixon","tag-oil-price","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3337"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3337\/revisions"}],"predecessor-version":[{"id":3338,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3337\/revisions\/3338"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}