At the Gas Pump.

Who's fault is it... well Bush and Obama are the front men, the public face, that is for sure. But they aren't the only ones at fault. Their wars have a lot to do with it, but so does the interventionist foreign policy that goes way back... so pretty much every president since and including TR is reponsible for that. Oil specifically at least since Ike. Much of the foreign policy comes out of places such as the CFR, as admitted (finally) by Hillary Clinton.

But there is another factor... the ever declining dollar thanks to the federal reserve and the deficit running federal government. As of close today, a 1964, 90% silver quarter, with no collector value is worth $7.85 silver melt. Gasoline at $4.099/gal, is 13 cents a gallon in real money. Real money being the constitutionally defined dollar as a weight of silver.

Not around here. It's still Bush's fault.

I wish we HAD real money again...

If you had real money you might be able to get a job at $.01/hr - if your lucky

You are in the minority - at least in Western countries. Most people don't want to have to work for 2 hours to buy a loaf of bread and 1.3 hours to buy a gallon of gas.

In third world countries the majority would benefit from that price/wage structure.

That's OK, because bread would be $.02 a loaf...and gas $.17...

If we had real money prices would be stable and the wages wouldn't lose purchasing power. Actually most everything would go down in price year after year as companies found new ways to make things and productivity increased. Right now that and then some is sucked up in the inflation tax.

The loss of value of the US dollar is frightening. Gold reached $1500 per ounce today and silver is, I believe, over $40. Those metals have not "gone up". The dollar is now a rag bag currency. Thank you, Mr. Obama, but this is not the idea of "change" that most people wanted.

Some talking head on the radio today said the majority of the $1 runup in price was due to all the oil speculators manipulating the market.

But pretty much what he had in mind....

Ashton Crusher wrote in news: snipped-for-privacy@4ax.com:

What comes first, the flies or the garbage?

But nobody in the media ever asks by what mechanisms and by what means the speculators manipulate the market. (they do, but there's something more behind it than that)

Brent wrote in news:iol7fi$nft$ snipped-for-privacy@dont-email.me:

What comes first, the flies or the garbage?

"hls" wrote in news: snipped-for-privacy@giganews.com:

Don't blame Obama.

An ounce of gold bought 12 barrels of oil in the '60s. An ounce of gold STILL buys a 12 barrels of oil today.

ALL the "inflation" you see has been in that phony government-money called the "dollar", which has lost over 90% of its value since 1971.

Gold is real. Invented currencies are only real to those who spend it first.

Could very easily be resolved by openeing up the Gulf to AMERICAN companies, instead of promising to buy oil from the Gulf from the Brazilians...

And that has bugger all to do with anything, Tegger.. This SOB took a bad situation and made it worse.. He is absolutely inept. Has no clue of what to do.

Gold is real. Obama sucks.

Gold, like diamonds, isn't that rare. It is only considered a precious metal and was used as money, due to historical accident of some people with power having a supply of it, and tradition. It is a shame to artificially make two very useful engineering materials too expensive to use for mundane applications.

It was used as money because it

a) takes labor to find and extract from the earth. b) does not corrode. c) can be easily divided. d) is rare enough that small amounts have a useful value.

There have been many things used for money but gold fills that role time and time again because of material properties and relative scarcity.

Okay, I'll throw you a bone...Why are not diamonds used as the basis of currency?