As The US Dollar falls, Oil prices go up.
Think there is a connection?
Yes, I know the answer in obvious. Oil costs more.
However, in other countries the price of oil is not rising as fast. In a few countries the price of oil has hardly moved.
So the real question is this.
Is the Bush economic policies of deficit spending, record Debt, record trade deficits, errant Iraq war, continued ill timed tax cuts, botched Medicare program, pandering to the Religious right, and a fuzzy math Social Security Solution contributing to a weak dollar? Is it because of the World's insecurity with Bush's ability to govern appropriately the reason the World is beginning to think of 'diversifying' their US dollar portfolios?
The Dollar has been rising, but this is more of a result of Congress and America not approving Bush's economic plans, both his Social Security Solution and his anti-poor Budget proposals.
Time will tell all the truth.
VT