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Forum Post: Remember when gas was only $1.19 a gallon?

Posted 6 years ago on Jan. 23, 2012, 10:52 a.m. EST by TrevorMnemonic (5827)
This content is user submitted and not an official statement

Remember when gas was only $1.19 a gallon and a big jar of name brand peanut butter was only 3.49?

We're too young to sound like old people.

Anyone want to throw in their 2 cents as to why this is happening? I like to see all the different perspectives people have on these kind of issues.



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[-] 2 points by Underdog (2971) from Clermont, FL 6 years ago

I can personally remember when I was a small kid that gas was about 25 cents per gallon (guess you might have guessed I'm not a youngster).

Money is devalued over time by the Fed printing up more of it and introducing it into the money supply. The more money in circulation, the less valuable it is. This is called inflation of the currency.

If you really want to get your eyes opened to what is going on, go on YouTube and watch the Zeitgeist Addendum -- Modern Money Mechanics video. It isn't very long and shows how our currency began to be inflated after the creation of the Federal Reserve. One of the most incredible parts of the vid is a section on how banks create debt (which is what money is) out of thin air by simply crediting the borrower's account with no monetary outlay on the banks part at ALL. A person would never think they could do this, because it is so outrageous to common sense, yet they do it all the time.

I doubt you'll ever look at banks the same after watching the video.

[-] 1 points by guru401 (228) 6 years ago

Ben Bernake and the Federal Reserve -- bottom line. We print (actually digitally create) hundreds of billions of US dollars, and they become less valuable. All commodities are traded in US dollars, and if the dollar becomes less valuable, more dollars are required to purchase the commodities.

Also when the Federal Reserve orders the creation of US dollars, they deposit those dollars directly into the accounts of the Primary Dealers (which are the huge banks). The banks take those dollars and drive the money into the stock and commodity markets. Look at what happened to the price of oil after QE2 (November 2010 - June 2011). The banks were given free money and everyone else suffers the price increases.

This is why the Federal Reserve must be ended or reigned in significantly. They are in the pockets of the banks.

[-] 1 points by technoviking (484) 6 years ago

remember when earning $600 a month was a huge thing?

[-] 1 points by unimportant (716) 6 years ago

It still is, it is called the $600.00 a month club. Seriously, it the are college kids in Greece called the 800.00'ers because they make an average of 800 euros a month and have degrees and speak multiple languages.


[-] 1 points by shoozTroll (17632) 6 years ago

I remember $0.17.9 a gallon, and oil company exes were still rich as hell.

You gotta wonder where they hid all that money.

[-] 1 points by TrevorMnemonic (5827) 6 years ago

I think they just burn it as a sacrifice to their greed Gods.

[-] 1 points by freewriterguy (882) 6 years ago

people think they are smarter than god, add to that a car payment hundreds of dollars a month for gas, insurance, taxes, geesh what would a horse cost that eats the wild grass and hay growing in my back yard, hmm, I dont think people are smarter than god, but they took away my right to even own a horse. Besides a horse can make another horse, but a car cant make another car!

[-] 1 points by vothmr (82) from Harrisonburg, VA 6 years ago

speculation, speculation, speculation political turmoil, speculation, speculation speculation, war, speculation speculation, disruption in supply, speculation.

[-] 0 points by 666isMONEY (348) 6 years ago

supply/demand, peak oil, speculation

[-] -1 points by FreeDiscussion1 (109) 6 years ago

Yes. And if you watch an old time western movie it costs about 50 cents a night to stay in the hotel and 25 cents for dinner. I remember filling my 71 Rally Nova, (burnt orange) with a couple of dollars. Guess what? The oil guys were rich then. Kings were rich 3,000 years ago. So what is the issue today?