Tuesday, 1 March 2016
In 1930, one ounce of Gold was worth $20.67 in redeemable dollars.
Today, as I write this, one ounce of Gold is worth $1,240.40 in non-redeemable dollars.
In 86 years, this is a "change" by a factor of sixty times.
So, while one ounce of Gold remains one ounce of Gold, is Gold worth MORE or the Dollar worth LESS?
I wonder if Larry Summers or Paul Krugman could answer that question?
- Bwa-hahahahahaha. I'm kidding. They're both completely clueless.
From Theo Spark at 12:14