[Peace-discuss] currency devaluation and energy costs

[n.dahlheim at mchsi.com]

Excellent point about monetary policy in all of this.


----------------------  Original Message:  ---------------------
From:    ewj at pigs.ag
To:      peace-discuss at anti-war.net
Subject: [Peace-discuss] currency devaluation and energy costs
Date:    Sat, 24 May 2008 21:02:15 +0000

> Someone asked Saturday morning about fuel prices and the War in Iraq.
> 
> The War is contributing to the price of fuel in part because the printing of 
> money to finance the American Empire is devaluing the currency.  By one 
> definition (see www.usmint.gov), a dollar is 1 ounce of silver. (there are other 
> definitions).
> 
> Adam W. at NationBuilder noted that forty years ago 1 ounce of silver bought 
> around 4 gallons of gas. On 5/21/08, 1 ounce of silver bought around 4 gallons 
> of gas. If we still used the US note, gas would be around 25 cents a gallon. But 
> with the FED note it costs nearly $4.  In 1964, Ronald Reagan talked about how 
> the dollar of 1939 was only worth 45 cents. Today, the dollar of 1913 is worth 3 
> cents and falling. Soon the dollar will literally be worth a penny.
> 
> Monetary policy is for sure not the only factor in energy prices but it is clear 
> that it is a highly influential factor.
> 
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