Denby:

I appreciate the argument you are making regarding the potential for continued strength of the US$. A counter argument is however, with Chinas announcement of a $585 billion economic development package, I anticipate that much of this will be financed with the Chinese holding of better than 1 trillion of US$. Such will place stress on the US$ with likely resultant adverse reaction in monetary markets.

Over the next few months we will begin to see if I am correct and as oil is priced in US$, we should start to see oil recover a bit merely from this quatity of US$'s hitting the world markets. All of this monetary expansion will ultimately be very, very inflationary.

Brian