Since the chart of crude oil priced in gold was interesting, Edward requested a chart of crude oil in Euros:
and for good measure, here is a chart of crude oil priced in Japanese Yen:
You’ll notice I didn’t include the axis on the charts - that’s because they would have been meaningless since I took the price of crude and calculated a ratio of it and the Euro Index and the Yen Index. So the charts are a very good approximation but not exact in showing crude in either currency. They are still useful and do provide a lot of information.
In any case, they show pretty much the same thing as the normal crude oil chart (priced in US dollars). It is safe to say that everyone is hurting.
I have family in Europe and they tell me things are very grim economically. From anecdotal evidence it would seem even more so that in North America, Europe is undergoing a deep recession.
Readers from Europe are free to chime in with their own views
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