Quote:
Originally Posted by LordBaine
i have hard this before...
|
You completely missed the main point. If you read my earlier post, and if you read all of Congressman Paul's article in the link I posted, he tells you the real problem. He only cites refinery capacity and not allowing offshore drilling, etc. as contributors to the problem.
The
main cause of our high oil prices is the
plummeting value of the U.S. Dollar. This is happening because it is a 'fiat' currency, and has not been backed by
anything other than the 'full faith and credit of the U.S. government' since 1971. Well the 'full faith and credit' of the U.S. government is a bit shaky in the eyes of the world right now. Once upon a time a dollar bill was not considered actual money, it was merely a
receipt for the silver which was the actual money. You could redeem a dollar bill in silver (I think it was .75 oz...not sure the exact amount). But now, with no backing by anything tangible (Gold or Silver) the Federal Reserve has no restrictions on how many dollars they can print. Thus each dollar is worth less and it takes more of them to buy a barrel of oil or anything else.