here's a little lesson i saw on cnbc on just how the current gasoline price relates historically with respect to silver
in 1964, the average retail price was $0.30
in other words, 3 silver dimes
now how much are those silver dimes worth today?
that's 3 dimes x spot price(call it $45) x total silver(0.08 troy oz per dime)
or 3 x 45 x 0.08 = over $10 per gallon(by the silver 'standard')
gas isn't expensive, the dollar just has much less value
in 1964, the average retail price was $0.30
in other words, 3 silver dimes
now how much are those silver dimes worth today?
that's 3 dimes x spot price(call it $45) x total silver(0.08 troy oz per dime)
or 3 x 45 x 0.08 = over $10 per gallon(by the silver 'standard')
gas isn't expensive, the dollar just has much less value