11-28-2012, 07:31 PM
Midnight you cannot measure the price of oil in dollars, even fake inflation number adjusted dollars. Our dollars are just pieces of paper, they have no value. $35 of our dollars used to be worth an ounce of gold and before that $25, but now its $1722. Gold is real money that holds its value because it is a limited resource that cannot be readily inflated like paper can be printed. Here is the price of oil since before 1950:
http://goldprice.org/james-turk/uploaded...780567.GIF
Notice that the price of oil in gold hardly changes while the price in dollars skyrockets, thats inflation. The fed prints the dollars and gives them to their friends in the banking and business world who use it while it is worth something, then release the money onto the open market where it devalues all the currency in circulation. It is a very effective tool of wealth transference and a tax on the middle class and fixed income earners. You will have noticed that over the past decade the costs of living have risen dramatically, while peoples wages have not. This is because the Fed under Greenspan and now Bernanke has been printing record amounts of money and loaning it to their friends. You can see a large increase in M1 money supply, which through our lax and dishonest fractional reserve banking policies has lead to an explosive growth in M3.
http://goldseek.com/news/2009/2-13mh/1.png
For now our petrodollar is the defacto reserve currency for the world and every major central bank and country treasury needs to keep petrodollars in reserve. Mostly they keep our petrodollars in reserve to buy oil from OPEC as you can guess from the name. However confidence in the petrodollar is waning quickly with our countries out of control spending and the Feds expansionist monetary policy. The Fed Interest rate will stay at 0% for the foreseeable future.... thats free money! When confidence in the petrodollar fails, the holders of petrodollar reserves will release their dollars onto the market and then we will experience the joys of hyperinflation. The costs of living have risen dramatically while wages are stagnant or falling, inflation is near 8%(real numbers,2% is BS), as confidence in the dollar continues the fade the inflation will accelerate and the costs of living will become unbearable for many.
Paul, the price of a gallon of gas in 1918 was less then 25¢, the Federal reserve has devalued our dollar by 98% since it was established in 1913. Fun fact: 1913 is also the year we got screwed over with the income tax as well.
“Setting a good example is a far better way to spread ideals than through force of arms.”
-Ron Paul
http://goldprice.org/james-turk/uploaded...780567.GIF
Notice that the price of oil in gold hardly changes while the price in dollars skyrockets, thats inflation. The fed prints the dollars and gives them to their friends in the banking and business world who use it while it is worth something, then release the money onto the open market where it devalues all the currency in circulation. It is a very effective tool of wealth transference and a tax on the middle class and fixed income earners. You will have noticed that over the past decade the costs of living have risen dramatically, while peoples wages have not. This is because the Fed under Greenspan and now Bernanke has been printing record amounts of money and loaning it to their friends. You can see a large increase in M1 money supply, which through our lax and dishonest fractional reserve banking policies has lead to an explosive growth in M3.
http://goldseek.com/news/2009/2-13mh/1.png
For now our petrodollar is the defacto reserve currency for the world and every major central bank and country treasury needs to keep petrodollars in reserve. Mostly they keep our petrodollars in reserve to buy oil from OPEC as you can guess from the name. However confidence in the petrodollar is waning quickly with our countries out of control spending and the Feds expansionist monetary policy. The Fed Interest rate will stay at 0% for the foreseeable future.... thats free money! When confidence in the petrodollar fails, the holders of petrodollar reserves will release their dollars onto the market and then we will experience the joys of hyperinflation. The costs of living have risen dramatically while wages are stagnant or falling, inflation is near 8%(real numbers,2% is BS), as confidence in the dollar continues the fade the inflation will accelerate and the costs of living will become unbearable for many.
Paul, the price of a gallon of gas in 1918 was less then 25¢, the Federal reserve has devalued our dollar by 98% since it was established in 1913. Fun fact: 1913 is also the year we got screwed over with the income tax as well.
“Setting a good example is a far better way to spread ideals than through force of arms.”
-Ron Paul