Tuesday, March 1, 2011
Gasoline Prices
More and more of my peers are complaing about the constant increase in gas prices. They think it is due to the instability overseas. I asked everyone if they would rather purchase gold/silver/house for price appreciation and they chose a house. I still do not get it. When will the masses wake up to gold/silver? I can easily sell some of my gold or silver, but you cannot sell a chunk of your house. Plus, people are pissed that their house is not going up in nominal terms while their paycheck is being eaten away by gas/food. Everyone sees the price increase but does not think for one moment that the currency is losing value. Well, if you exchanged your USD for gold or silver, the cost of gas would be the same or even lower with silver. It seems extremely difficult for people see/understand this perspective.
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At a silver melt value of $2.7655 per coin, if you bought gas using the mercury dime (10 cents), made of silver in the years 1916-1945, or the Roosevelt dimes with same melt value which made of silver in 1946-1964, you would not feel that gas was expensive. At a regular gasoline price in dollar value of $4.40 per gallon, gas has never been cheaper. It is actually slightly below .16 cents per gallon.
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