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Old 02-23-2012, 12:46 AM   #22
ArrereGarhync

Join Date
Nov 2005
Posts
416
Senior Member
Default
A gallon of gasoline today costs about 65 milligrams of gold.

65 milligrams = 0.002292 oz

An ounce of gold today is worth about $1,752

$1,752 x 0.002292 oz = $4.01 a gallon

On January 1st, 2000, gold was selling at $283.00 an ounce. If the dollar was pegged to gold, gasoline today would cost $0.65 a gallon...
And we would work for $0.65 an hour.
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