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I don't disagree. I addressed this in my post. I don't claim to have a definitive claim that it has outperformed nor do I believe it has. But its curious that i
by bko 6y ago
I don't disagree. I addressed this in my post. I don't claim to have a definitive claim that it has outperformed nor do I believe it has. But its curious that it's even up for debate. A fixed supply of something, basically a unit of account. If you denominate prices of "productive assets" in terms of gold, the return is considerably lower when compared to that of fiat.
Gold appreciation was ~0% from 1930-1970. Post fiat-currency it grew at 5-7%. That has to mean something...
- ptr 6y agoThat the appreciation was 0% makes a lot of sense since the dollar pas pegged to the gold. Maybe it just means that having a currency that increases in value by 7% per year was untenable since it doesn’t incentivize people to invest in more productive ventures. It’s deflationary.
- ac29 6y ago> Gold appreciation was ~0% from 1930-1970. Post fiat-currency it grew at 5-7%. That has to mean something... Gold was nationalized by the US Government in the 1930s and it wasnt legal for US citizens to own or trade again until the 1970s. https://en.wikipedia.org/wiki/Gold_Reserve_Act https://en.wikipedia.org/wiki/Gold_Reserve_Act