Gas is 20 Cents Per Gallon at an Ashland, Oregon Gas Station


LewRockwell.com
by Michael S. Rozeff
May 15, 2012

Two Roosevelt dimes contain 0.14468 oz of silver. If gas costs $4 in FRNs (Federal Reserve Notes [dollars]), then the implicit price of silver that makes $4 equivalent to 0.14468 oz of silver is $27.65 per ounce. So, this price seems roughly in the ballpark. But, if we take $35, which is nearer today’s silver’s price, then the implied price of gasoline is $5.06, which is steep.

At any price less than $5.06, I’d hold on to the dimes and use FRNs. One has to be careful about these things. One also needs a conversion table. This could be sold as an application on a handheld device. I’m giving away a profitable idea here. The device could read in the spot price of silver from a web site. The user punches in the FRN price. Then the equivalent amount of silver coin is the output.

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