Price of Oil and Price of Money.

The fantastic and unprecendented increase in oil prices has naturally led to an economic upheaval. The industrialized countries handed over a trillion dollars to the oil producing countries, 13 of which belong to the OPEC cartel. Nevertheless, there's a factor which the OPEC will never be able to control: the price of money. This price will continue to be a limiting force and there's no possible alliance between oil producers and consumers which can hope to control it. The creation of purchasing power and the supply of money are independent elements which can exercise a considerable influence in the shaping of the future of the world's economy. The creation of money, as well as modifications in exchange rates, depend to a large extent on the decisions of the central banks of the consumer countries. It is not at all evident that the banks, and above all the Federal Reserves Board of the United States, always act wisely. OPEC behaved unreasonably during its decade of power and was eclipsed by the growing authority of the banking system. Today, this system is fragile and it is not impossible that an even bigger gap in the relation between oil prices and the price of money can occur just before 1990.