Gasoline Prices and Dollar Prices

By Joseph Svetlic

It's not that gasoline is more expensive; it's just that your dollars are worth less.  But neither the media nor the political establishment wants you to realize the real reason Americans are experiencing pain at the pump.
Surging gasoline prices are back in the news, and President Obama shows his concern for Americans by doing what he does best.  He gave a speech.  Happy now?

Of course the grumpy old conservative naysayers place blame on the Obama administration for the surging prices!  They point to the administration's denial of the Keystone pipeline and additional supply of Canadian oil sands as illustrative of an anti-energy policy that tries to dictate against the free market that we are all to drive flammable 40-mile/charge Chevy Volts.  They point to Obama's own Energy Secretary Stephen Chu, who believes that "[s]omehow we have to figure out how to boost the price of gasoline to the levels in Europe."  They point out that President Obama doesn't in fact have a problem with high gas prices; he just prefers a "gradual adjustment."  (Is four years long enough?)  They point to the reaction of Speaker Pelosi in May 2007 when the average national gas price was only $3.05/gallon, calling it the Bush administration's "failure" and accusing the Bush administration of years of policies favoring "Big Oil."  They point to the price of gasoline on January 20, 2009 being a bargain at $1.83/gallon, now having basically doubled and headed much higher.  Effective talking points all.

Well, I'm here to give the Obama administration and the media (but I repeat myself) their most potent rebuttal to these unfair attacks.  Here it is:

The real price of gasoline has gone down during the Obama administration.  Gas is actually cheaper now.
"What?!" you say.  "I just paid over $3.50 per gallon for a fill-up!  How can this be?"  Glad you asked.  Put down your Slurpee.  Let's go through this.  The dollars that you have in your pocket are pieces of paper that hold value only because they are "backed by a gun."  The "gun" being the United States Government and the Federal Reserve.  The dollars that you have in your pocket are "fiat money" (the term "fiat" is Latin for "let it be done"), not backed by anything of actual value since August 15, 1971.  Cash is just paper.  Call them Bernanke Bucks.

Read more:

http://www.americanthinker.com/2012/02/gasoline_prices_and_dollar_prices.html