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Obama in Your Tank
New York Sun ^ | 03/15/2012

Posted on 03/15/2012 6:09:29 AM PDT by SeekAndFind

“Obama Defends Energy Policies” is the headline over a Reuters dispatch in respect of gasoline prices. It reports on the president’s launch of what the British wire service characterizes as “the most comprehensive defense to date of his energy policies.” It says the president is “pushing back against election-year attacks from Republicans” who say his energy policies “are to blame for high gas prices that are eroding his popularity with voters.” The problem with all this is that it’s not the energy policies that are driving up gasoline prices. It’s the monetary policies, and if the Republicans can’t manage to get that point into focus, it’s hard to see how they can put the rest of the monetary debate to their advantage.

The fact is that priced in specie — gold or silver — the value of gasoline has been plunging. After Mr. Obama used his weekly radio address to declare that to rectify rising gasoline prices there was, as he put it, “no silver bullet.” Our point was that a gallon of gasoline was selling at the time for fewer grains of silver than it was selling for when Mr. Obama (or, for that matter, Mr. Bush) had acceded to the presidency. Gasoline at the pump was selling for 1/6 of an ounce of silver when Mr. Obama was sworn in. Today, the value of the same gallon of gasoline has fallen to less than a 10th of an ounce of silver. Measured in gold, the value of gasoline has also been plunging.

In other words, it’s not the gasoline that’s been going up. It’s the dollar that’s been going down. Americans, however, don’t hold their money in gold or silver. They generally hold their money in accounts denominated in dollars, and the dollar has been getting weaker.

(Excerpt) Read more at nysun.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: democrats; dollar; gasprices; obama; obamabinlying

1 posted on 03/15/2012 6:09:33 AM PDT by SeekAndFind
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To: SeekAndFind

Still trying to figure out how to drive my car with wind and solar. What freaks!


2 posted on 03/15/2012 6:13:30 AM PDT by Why So Serious (There is no cure for stupidity!!!)
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To: SeekAndFind

Here is another thing to think about. EVERYTHING that is plastic is made from a byproduct of Crude Oil. If we go to solar and wind for energy will it produce a byproduct that we could use to make everything that is now plastic.


3 posted on 03/15/2012 6:15:44 AM PDT by Why So Serious (There is no cure for stupidity!!!)
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To: SeekAndFind

It’s both IMO. The Obama/Bernanke devaluation of the dollar is why the Oil that is traded in dollars is so much more expensive today, as well the Obama policy disallowing us to drill domestically.


4 posted on 03/15/2012 6:17:33 AM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: Why So Serious

Put a windmill on the roof of your car,
problem solved.

/obamaphysics


5 posted on 03/15/2012 6:17:38 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: SeekAndFind
I guess in the Sun's view this would be considered good news for Obama? That the dollar is sinking so fast that Americans are suffering at the gas pump? LOL!!! Six of one, half-dozen of the other.

The net effect is the same, the policies of Obama and the Democrats is destroying our nation and our economy and they still can't see it.
6 posted on 03/15/2012 6:19:15 AM PDT by Sudetenland (Anybody but Obama!!!!)
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To: SeekAndFind

And why is the dollar weak??? Try Fed Gov trying to borrow by printing money and loaning money to banks to buy US Treasuries that are leftover after each monthly auction because private and foreign buyers refuse to buy. Deficit spending propped up by printing money to loan to private entities such as Wall Street bankers to buy left over US T Bills to prop up failing banks is the main drive why the US is printing money at the behest of the Fed Reserve. Consequence is very low interest rates for savers and inflation in all commodities such as food and fuel.


7 posted on 03/15/2012 6:19:21 AM PDT by Fee
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To: SeekAndFind

And why is the dollar weak??? Try Fed Gov trying to borrow by printing money and loaning money to banks to buy US Treasuries that are leftover after each monthly auction because private and foreign buyers refuse to buy. Deficit spending propped up by printing money to loan to private entities such as Wall Street bankers to buy left over US T Bills to prop up failing banks is the main drive why the US is printing money at the behest of the Fed Reserve. Consequence is very low interest rates for savers and inflation in all commodities such as food and fuel.


8 posted on 03/15/2012 6:19:27 AM PDT by Fee
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To: SeekAndFind

Gold and silver have of course been rising above the rate of inflation largely due to poor fiscal policies and the economic situation. By that standard, the cost of food, housing, etc., has been dropping rapidly.

Some of the increase in gas can be traced to the declining value of the dollar, but not the majority of it.


9 posted on 03/15/2012 6:20:42 AM PDT by 9YearLurker
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To: rockinqsranch

RE: The Obama/Bernanke devaluation of the dollar

I have DIVERSIFIED my portfolio OUT of the dollar since 2010 ( even since Bernanke said he was going to keep interest rates near zero for YEARS ). Aussies and Loonies were a great bet then and still are now.

WHY WOULD I PUT MONEY IN US DOLLARS AND MAKE LESS THAN 1% IN INTEREST WHEN I CAN GET CLOSE TO 4% IN AUSTRALIAN DOLLARS?

Think of how many investors think this way...


10 posted on 03/15/2012 6:26:24 AM PDT by SeekAndFind (question)
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To: SeekAndFind
The Oil companies get all the blame, no secret there, but the truth is, it is largely because of the falling dollar. The American dollar is the global currency used for the purchase of oil. Its value drops, we get less oil for the dollar, which means higher prices at the pump.

So yes, Mr. President - it is your economy causing it.

11 posted on 03/15/2012 6:28:21 AM PDT by NavyCanDo
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To: SeekAndFind
Price of Oil plotted against Price of Gold


12 posted on 03/15/2012 6:47:19 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

Is that an argument to go back to the Gold standard?

BTW, Gold and Silver prices have tanked the last two days...


13 posted on 03/15/2012 6:51:42 AM PDT by SeekAndFind (question)
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To: SeekAndFind
Is that an argument to go back to the Gold standard?

No. But a bit of perspective on oil and the associated pricing.

14 posted on 03/15/2012 6:53:43 AM PDT by thackney (life is fragile, handle with prayer)
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To: SeekAndFind

So I should just tell the clerk at the local gas station that due to the decline of the dollar, I am going to fill my tank but I am only going to pay you $1.75 a gallon instead of the pump price of $3.95. That will go over well. It doesn’t matter what the reasons are, I am paying more for gas regardless of the reasons.


15 posted on 03/15/2012 7:28:54 AM PDT by Bruinator ("For socialism is not merely the labour question, it is before all things an atheistic question")
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To: SeekAndFind

The Bureau of the Mint better start designing $10,000 notes so consumers won’t have to bring baskets full of money to the store to buy a loaf of bread.


16 posted on 03/15/2012 7:30:58 AM PDT by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
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To: SeekAndFind

Does anyone know where I can get a wheelbarrow that looks like a giant wallet? Might need ot to carry bread money in.


17 posted on 03/15/2012 7:55:06 AM PDT by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: SeekAndFind

Get Ethanol out of our gas.


18 posted on 03/15/2012 7:59:29 AM PDT by hadaclueonce (you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
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To: hadaclueonce

Good idea! BTW, there is a website that lists stations that sell real gas. It’s puregas.org (or com, I never can remember which).


19 posted on 03/15/2012 8:29:10 AM PDT by Pining_4_TX ( The state is the great fiction by which everybody seeks to live at the expense of everybody else. ~)
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To: SeekAndFind

Now that Obama is going to release oil from the Strategic Oil Reserve, where do the revenues from the sale of that oil go? Obama’s slush fund? The treasury?


20 posted on 03/15/2012 9:34:50 AM PDT by Go Gordon (President Poverty - President Downgrade - President Food Stamp - President Pantywaist - B. H. Obama)
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To: SeekAndFind

Of course it’s not his fault. Obama found another thing to blame. Now, the question: who is to blame for the cheapening of the dollar? It’s not OBAMA, it’s the fault of the Federal Reserve. Obama had absolutely nothing to do with the Federal Reserve. All he did was appoint the head of the FEDS. I guess he has run out of people to blame, now he is throwing the FEDS under the bus. No, by golly, it’s not Bush’s fault, or the tsunami, arab spring, the hurricane, earthquake, tornados, etc, etc, etc. It’s now the FEDS fault. This man has become a joke for the rest of the world to see, and the joke is on us.


21 posted on 03/15/2012 9:35:18 AM PDT by gingerbread
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To: MrB

Or we could take out the floors of our cars and use our feet like the Flintstones used to do.


22 posted on 03/15/2012 8:21:48 PM PDT by jmacusa (Political correctness is cultural Marxism. I'm not a Marxist.)
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