us$/oil/gold breakdown

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    As have been saying for several weeks and now is fact that Iraqi election results very strongly favor U.S./Bush policy in the Middle East. This is very bullish for the US$ as IMHO defense spending in Iraq will over the next twelve months head downwards as a free Iraq builds its own defenses and routs the terrorists. To-day's elections marked the defeat of the terrorists just as the elections in Afghanistan did for the Taliban.

    Expect to see very strong growth in the Iraqi economy and billions of dollars plow into their oil sector. Ten year potential growth is from 2 mbpd to 6 mbpd oil production making its economy and people very wealthy.

    Gold will take another hit, as will oil.
 
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