Quote Originally Posted by Chris Coles View Post
For my own part, I have to own up to sometimes dropping in the odd comment of poor consequence, just to stir the pot where in total honesty, I am unable to provide a better analysis. But, here, with the very greatest of respects Munger; you leave yourself wide open to a request, a serious request I might add, for a better analysis from you.........
My analysis is rather easy to explain.

Oil prices do not seem to have risen and fallen in sync with M1, M2, or M3 at all over the past 30 years. For example, witness the dramatic rise in the late 70s, the subsequent fall, the dramatic rise in the mid 2000s, the dramatic fall in 2008-09, etc.

To claim that the latest rise is due to solely (or mainly) to money printing would seem to require a little proof. Stating that the rise of the last year is due to money-printing seems to be a case of fitting a very recent observation to a hypothesis and ignoring adverse data. That is all.