Posted on 03/15/2012 6:09:29 AM PDT by SeekAndFind
“Obama Defends Energy Policies” is the headline over a Reuters dispatch in respect of gasoline prices. It reports on the president’s launch of what the British wire service characterizes as “the most comprehensive defense to date of his energy policies.” It says the president is “pushing back against election-year attacks from Republicans” who say his energy policies “are to blame for high gas prices that are eroding his popularity with voters.” The problem with all this is that it’s not the energy policies that are driving up gasoline prices. It’s the monetary policies, and if the Republicans can’t manage to get that point into focus, it’s hard to see how they can put the rest of the monetary debate to their advantage.
The fact is that priced in specie — gold or silver — the value of gasoline has been plunging. After Mr. Obama used his weekly radio address to declare that to rectify rising gasoline prices there was, as he put it, “no silver bullet.” Our point was that a gallon of gasoline was selling at the time for fewer grains of silver than it was selling for when Mr. Obama (or, for that matter, Mr. Bush) had acceded to the presidency. Gasoline at the pump was selling for 1/6 of an ounce of silver when Mr. Obama was sworn in. Today, the value of the same gallon of gasoline has fallen to less than a 10th of an ounce of silver. Measured in gold, the value of gasoline has also been plunging.
In other words, it’s not the gasoline that’s been going up. It’s the dollar that’s been going down. Americans, however, don’t hold their money in gold or silver. They generally hold their money in accounts denominated in dollars, and the dollar has been getting weaker.
(Excerpt) Read more at nysun.com ...
Of course it’s not his fault. Obama found another thing to blame. Now, the question: who is to blame for the cheapening of the dollar? It’s not OBAMA, it’s the fault of the Federal Reserve. Obama had absolutely nothing to do with the Federal Reserve. All he did was appoint the head of the FEDS. I guess he has run out of people to blame, now he is throwing the FEDS under the bus. No, by golly, it’s not Bush’s fault, or the tsunami, arab spring, the hurricane, earthquake, tornados, etc, etc, etc. It’s now the FEDS fault. This man has become a joke for the rest of the world to see, and the joke is on us.
Or we could take out the floors of our cars and use our feet like the Flintstones used to do.
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