I was told by my father-in-law, this example: A $20 numerated gold piece in the 1900's would buy a nice suit. That same gold piece (kept all these years) today will buy a nice suit. [Oh, just saw Aspie beat me to the suit explanation, thumbs up!]
BTW, back in the 70s, I actually bought a good suit for exactly $20. It was near the end of a going out of business sale at a local men's store. Gold was as low as $100 per ounce during that period of time, so it was still a pretty amazing deal.
You don't understand. Gold and silver are real money. The paper dollars are federal reserve notes, which are worth less than 5% of what they were worth in 1913. It doesn't matter what the "price" of gold is, it's still worth the same as it was over 100 years ago. That's what being a store of value means.
Keep your dollars that are worth less every year and will eventually get to zero. I will keep gold and silver that don't change in value from year to year.
You don't even know what "virtue signaling" means. BTW, one "l" in "signaling" is the preferred spelling.
Love this input! Thanks for the perspective. Dad has also been more bullish on silver the last couple years for similar reasons i.e. ratios. 1700 doesn't seem too low for GC considering in 2018 it was 1100.
Gold doesn't decline, nor does it rise. The fiat paper money rises and falls, and will eventually get to zero. That always happens to fiat money.
I was told by my father-in-law, this example: A $20 numerated gold piece in the 1900's would buy a nice suit. That same gold piece (kept all these years) today will buy a nice suit. [Oh, just saw Aspie beat me to the suit explanation, thumbs up!]
I've explained it this way for decades.
BTW, back in the 70s, I actually bought a good suit for exactly $20. It was near the end of a going out of business sale at a local men's store. Gold was as low as $100 per ounce during that period of time, so it was still a pretty amazing deal.
You don't understand. Gold and silver are real money. The paper dollars are federal reserve notes, which are worth less than 5% of what they were worth in 1913. It doesn't matter what the "price" of gold is, it's still worth the same as it was over 100 years ago. That's what being a store of value means.
Keep your dollars that are worth less every year and will eventually get to zero. I will keep gold and silver that don't change in value from year to year.
You don't even know what "virtue signaling" means. BTW, one "l" in "signaling" is the preferred spelling.
Love this input! Thanks for the perspective. Dad has also been more bullish on silver the last couple years for similar reasons i.e. ratios. 1700 doesn't seem too low for GC considering in 2018 it was 1100.