Following up from yesterday’s post “You Can’t Put The Toothpaste Back Into The Tube” where we posted the video with Chris Martenson explaining the impact of world oil production on the economy, a MASSIVE EXPLOSION of oil prices has occurred over the last few days as a result of the hyperbolic MONEY PRINTING and Western threats of invading the world’s third largest oil producer, Iran.

As you can see below, WTI crude had an incredible week last week in which it rose by 6%.

Consequently, WTI Crude is on the verge of breaking to its highest level in four years, not to mention completing a MASSIVELY bullish “reverse head-and-shoulders” chart formation spanning back nearly a year!

Meanwhile, Brent Crude soared to a new high in dollars…

…and tacked 3% onto its ALL-TIME HIGH in Euros…

…while all-important Asian Crude grades surged through $134/bbl, just days after the Chinese government foolishly eased monetary policy…

As Asian Oil Passes $134, PBOC Braces For Inflation Shock Following Premature RRR Cut

…and the Baltic Dry Index, a key indicator of global trading activity, remained at its ALL-TIME LOW reading. Can you say “Money Printing to Infinity?”

Crude oil, the most widely used commodity on earth. What a pity it’s ROCKETING higher amidst a massive, expanding global depression that’s just getting started. It’s meteoric rise seems to have commenced “out of the blue,” but should be no surprise given the CRB Commodity Index’ 12% surge this year, threatening to complete its own MASSIVE “double bottom” formation in the coming months.

All of a sudden, energy prices have become major headline news, a rarity at this time of year. At the rate oil prices have risen lately around the globe, it appears a fait accompli that the last years near-high gasoline prices will be breached, and possibly the all-time high prices of 2008. It is incredible to watch politicians scrambling like chickens without heads, blaming everyone but themselves for this imminent economic tragedy, when their own MONEY PRINTING and WAR THREATS are the true culprits.

$200 Oil Coming As Central Banks Go CTRL+P Happy

Anti-Iranian Sanctions Backfire on Western Imperialist Countries

The U.S.-controlled IAEA is issuing its daily dose of Iranian provocation, BEGGING Ahmadinejad to retaliate and commence World War III…

New IAEA report shows Iran expands nuclear enrichment at Natanz

…with the coup de grace coming late Friday evening – as was the case last week – when operators of the SWIFT international bank wire system agreed to Obama’s request that they indefinitely ban Iranian banks…

Swift May Expel Iran’s Central Bank, Hindering Oil Payments

…essentially guaranteeing soaring gasoline prices later this year, potentially single-handedly taking down the global economy.

What Rising Gasoline Prices Do To The Economy

Moreover, note how the gold/oil ratio has fallen back to its three-year average despite gold’s key technical breakout last week. Also note the Relative Strength Index, or RSI, of this ratio, which has fallen to its most oversold level in two months. Over this period, every time the RSI has fallen to this level, the ratio has moved up sharply, an occurrence I expect to occur yet again in the coming month. Unless, of course, the U.S. commences its inevitable attack on Iran, in which both gold, silver and oil will rise hyperbolically, with an uncertain short-term impact on the gold/oil ratio.

So there you have it an inevitable skyrocketing cost to transportation the world over that will impact directly on everything that we purchase with food and fuel the biggest winners in the race to drive up prices when we can as a society the masses can least afford it.

The Time to protect yourself is fast diminishing…