The price of gold hit $3336.66 at 21:45 EDT today.
What does it mean? It means that I was checking the price of my PMs.
Make of it what you will.
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How did you arrive that that weight?
I just ran the numbers again with a calculator and it works out.
I'm using silver as it is a more useful commodity for small transactions.
Gold is over $100 / gm. A dozen eggs would be in the milligram range, very inconvenient to use in trade. Use some gold to buy silver for small change. Use gold to buy a house or a car.
I'm using fiat money as a baseline because that's what we have.
Lets assume eggs are $3.50 / dozen in fiat money.
Silver is running about $1227.64 / kg.
$1227.64 / 1000 gm = $1.23 / gm.
($3.50 / doz.) / ($1.23 / gm) = 2.92 gm / doz.
reasonably close for an off-the-cuff, in-my-head math.
BTW, one of the YouTube precious metal refiners assumes that silver is still very undervalued.
Ah .. yes. Thanks for that. This is what I was pointing to: The $ as the interlooper, the translator, the middle man.
What this shows is we have no clue about the VALUE for VALUE relationship between Silver/Gold -> Eggs, anymore.
Allow me to show you a crazy thing.
Some time ago, someone found out they could create a hash of a document, and use that to send BTC to that hash-address. Of course, it is not a regular BTC address but it works. This means that you can have proof positive that a certain file with a certain contents has been made sometime due to a immutable character of BTC. Now you know the back ground.
They used 0.002-BTC on that created hash-address on 30 sept 2015: https://www.blockchain.com/explorer/addresses/btc/16K9TKnNCgN5rpKW8MGCYBvvsxnVeyCcqj
So, instead of a fake value like the FRN, manipulated to the hilt, especially in relation to deflationary assets like Gold, when looking at it from the lens of a real deflationary assets: that is a lot of eggs.