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7:51 am
February 19, 2012
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Jarhead
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|  Diamond Apple | posts 2326 | |
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MW said:
Jamie, another great illustration of inflation is the pre 1964 silver dime. Back in its circulating days, its face value could buy a gallon of gas. Now, 40+ years later, a silver dime can still buy a gallon of gas due to its silver content while a FIAT dime can only buy 2.5% of a gallon!!!
Actually it took 2 1/2 to 3 dimes to buy a gal of gas in 1964 now it takes but one pre 64 dime.
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" When a well packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and it's speaker a raving lunatic." Dresden James
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8:47 am
February 19, 2012
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MW
| | Over the Rainbow | |
|  Golden Apple | posts 1622 | |
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Actually it took 2 1/2 to 3 dimes to buy a gal of gas in 1964 now it takes but one pre 64 dime.
I stand corrected.
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All the kings horses and all the kings men won’t be able to put the empire together again. -anonymous
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10:10 am
February 19, 2012
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Gallo
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|  Bronze Apple | posts 924 | |
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Jarhead said:
"Actually it took 2 1/2 to 3 dimes to buy a gal of gas in 1964 now it takes but one pre 64 dime."
Nothing like first hand knowledge. :)
Yep, it was a quarter for 1 gallon of gas. This tells us three things:
1. Inflation is man made.
2. New technology reduce the price of production.
3. Technology not withstanding, silver may be a little over priced.
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11:53 am
February 19, 2012
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MW
| | Over the Rainbow | |
| Golden Apple | posts 1622 | |
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Nothing like first hand knowledge. :)
Lol. Jarhead was probably around for when you could fix the wheel on your horse and buggy for a dime.
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All the kings horses and all the kings men won’t be able to put the empire together again. -anonymous
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3:05 pm
February 19, 2012
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Jarhead
| | Arkansas | |
| Diamond Apple | posts 2326 | |
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Post edited 3:29 pm – February 19, 2012 by Jarhead
MW said:
Nothing like first hand knowledge. :)
Lol. Jarhead was probably around for when you could fix the wheel on your horse and buggy for a dime.
Two dimes.
Technology not withstanding, silver may be a little over priced.
In 1964 it took a less than 1/10 of an ounce of gold to buy ten gallons of gas , at today's prices you can buy almost 50 gallons of gas with 1/10 of an once of gold. What does that mean is gold over priced? oil under priced?
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" When a well packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and it's speaker a raving lunatic." Dresden James
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3:58 pm
February 19, 2012
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MW
| | Over the Rainbow | |
| Golden Apple | posts 1622 | |
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Post edited 4:00 pm – February 19, 2012 by MW
There is a gold bubble, but overall the rise in gold is a combination of a devalued dollar and loss of faith in the dollar as the reserve currency.
Also, in 1964, the price of gold was -i believe- fixed at 35.00USD. Now, there is no link so that has to factor in too.
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All the kings horses and all the kings men won’t be able to put the empire together again. -anonymous
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7:45 pm
February 19, 2012
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Gallo
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| Bronze Apple | posts 924 | |
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Coinflation.com has a silver dime from 1964 at $2.4298 as of the close on Friday. It has 90% silver which is about 0.08 oz of silver. So really 1 gallon of gas is about 1.5 silver dimes.
I believe the gold to silver parity in 1964 was about $35.10 per gold Oz to $1.29 per silver Oz. = 27.20.
The parity today is around 52 based on current spot market.
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7:55 pm
February 19, 2012
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MW
| | Over the Rainbow | |
| Golden Apple | posts 1622 | |
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the historic parity is around 16:1 silver to gold. historical data going back to biblical dasy prooves it out. So the disparity tells me even now that silver is artificially depressed or that gold is artificially inflated.
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All the kings horses and all the kings men won’t be able to put the empire together again. -anonymous
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