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To: Mikey_1962
That is what I try to tell people, nothing has gone up just our currency has gone down the drain. Actually if anything things are cheaper when you take into account the current price of metals as a comparison. A silver quarter bought a gallon of gas in 1964, now it could buy at least two. Our government is ruining us with spending wages have not increased proportional to the devaluing of our currency.
9 posted on 02/29/2012 3:22:32 PM PST by dog breath
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To: dog breath

Fox News this morning Dick Morris had a good comparison of why gas is at $4.00+ per gallon. He said in 1948 a gallon of gas cost $0.20, the value by weight of the silver in two dimes. At the price of silver today the equivalent weight of silver in solid silver dimes will still buy a gallon of gas. Thus, the dollar has lost value where the price of oil has not changed based on the exchange value of precious metals that once backed the US dollar’s value.


11 posted on 02/29/2012 3:48:36 PM PST by drypowder
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