I Can Get You A Gallon Of Gas For A Dime

Ron is ok and I am not going to touch on a political point if he should or not be considered for president. I find that poor etiquette on non-political forums such as this one.

What I want to talk about is the silver dime buys a gallon of gas today. I don't see the point. Does that mean if I was paid in silver today I could use a dime to buy a gallon of gas? So if I make $3,000 a month and I am paid in silver that would mean I have about 1000 dimes.

I use 20 gallons of gas a week so that would take 80 dimes. (4 weeks in a month)I have to make the mortgage and car payment so that takes 500 dimes. I have unities this month such a telephone and electric etc. That takes 100 dimes. Food will take another 100 dimes. Misc amount for things like insurance taxes (prorated each month) take another 150 dimes. So now I have spent a total of 930 dimes. I have 70 dimes left over. Frankly that gives me the same amount of what I call free money as if I was paid in dollars- right around $200.

Now I figured it this way at $3,000 a month I could buy 821 gallons of gas a month.

My dad made $3,000 a year in 1960. Gas was 31 cents a gallon. He could buy 806 gallons a gas a month.

So as I figure it out even at inflated prices I am better off than my dad who had a pretty nice state job in 1960, though troopers did not make all that much back then.

Thus I really don't get the dime and gas thing. Personal it doesn't make me better or worse. I understand inflation but again I am no better or worse really than my dad was back 50 years.

So what is the big deal or what am I really missing other than this inflation thing that doesn't make any difference to me. In fact if silver where to drop back to the price it was a year ago I would be a lot worse than I am today.

Just looking for explanations of why the dime thing is relevant to me. It sounded nice until I worked things out.

No if I was to be paid in 90% silver dimes today I would get 1,000 of them to equal my $3,000. I didn't mean the $ sign but that was obvious it was a mistake. There are 4 weeks in month at least where I live so that makes 80 dimes.

Well the pay check is twice a month. So you get a few extra which we use for Christmas money for the kids.

In any event I don't see the point of the silver dime for a gallon of gas. Now when I do the calculations when silver was under $20 this just means I get more silver dimes in my pay.

I see a windfall which hardly seems fair to someone because when silver went up I made extra money on any I saved or did not spend. However someone has to loose for this gain.

Yea I think he was just proving the point that gold and silver is money.

I have no problem with gold/silver as money or RP.

So Ed what your telling me is that there would be no inflation with gold and silver? In this understanding we would never have to worry about inflation.

Thus we would all make the same amount as 1960 and no prices would rise and no one would get raises?

His point is that pump prices reflect the loss of value of the dollar, not an increase in price. If you pay for the gas with silver coins that you used back before 1970, you pay pretty much the same pump price (in silver) as you did back then.

Prices have gone up unevenly, because not every item looks at how the dollar has lost value in the same way. A McDonalds should jump all over the deal of getting a silver dime for a burger, because beef prices haven't reflected the loss of the dollar's value--yet.

Typically, there is very little inflation under a hard money system. Look up the US inflation amount from 1813-1913 and you will find that there was almost none. Only very large increases in the amount of gold or silver available will cause much inflation and those times are rare... unlike a system with run-a-way printing presses cranking out unbacked paper money hand over fist.

As to raises, no, you would not get an inflation raise under a hard money system and you would not need one. Your standard of living would not be pushes lower via inflated currency so extra dollars given to make up the difference would not be needed. All raises would be merit raises or raises given for taking on additional work or responsibility.

Those who have saved hard money maintain their purchasing power with time, unlike those who save paper money.