Let this sink in for a second
In 1929 the price of a troy ounce of gold was $20. There are 32.15 ozt per 1kg bar, so that equals $6,430 for 10kg of gold.
Today on April 8th 2024 at 9:33PM EDT an ounce of gold is $2,344.90 per troy ounce. That equals $753,885.35 for 10kg of gold.
The average home price in the USA in 1929 was $4,902. So 10kg of gold would have gotten you nice size home.
The average home price in the USA today is $412,095. So 10kg of gold would get you a nice size home today as well.
Its not that gold has gone up in value, its that the dollar has lost 99.14% of its purchasing power since 1929 due to the printing and expansion of the currency supply.
Property values didn’t go up by 840.67%, the dollar lost that much purchasing power 95 years.
H/t via twitter // https://x.com/4soundmoney/status/1777513495954608173?s=46
@QtimeNetwork
In 1929 the price of a troy ounce of gold was $20. There are 32.15 ozt per 1kg bar, so that equals $6,430 for 10kg of gold.
Today on April 8th 2024 at 9:33PM EDT an ounce of gold is $2,344.90 per troy ounce. That equals $753,885.35 for 10kg of gold.
The average home price in the USA in 1929 was $4,902. So 10kg of gold would have gotten you nice size home.
The average home price in the USA today is $412,095. So 10kg of gold would get you a nice size home today as well.
Its not that gold has gone up in value, its that the dollar has lost 99.14% of its purchasing power since 1929 due to the printing and expansion of the currency supply.
Property values didn’t go up by 840.67%, the dollar lost that much purchasing power 95 years.
H/t via twitter // https://x.com/4soundmoney/status/1777513495954608173?s=46
@QtimeNetwork