Operation Desert Storm And The Dow
On Jan. 16, 1991, “Operation Desert Storm” began in the Persian Gulf. Americans watched on live television as U.S.-led coalition forces hit targets with missiles guided down a chimney or through a building’s window. Talk about pinpoint accuracy!
The market reacted with euphoria, as the Dow Jones Industrial Average gained 114.60 points the next day. The 4.6 percent increase was the second-largest jump in Dow history. The same day, gold and oil went into a spectacular free fall. Oil set a record one-day drop, plunging to $10.56 a barrel — a 74 percent decline from where it had been just six months earlier.
Does war always favor gold and oil and depress stocks? As the Gulf War proved, not always.
Chip Wood is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.
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