3 ms·
One interesting thing to note.. Historically, 1-1.5lbs of silver bought you a sheep and it’s the same for today (Rome -> 1500 -> Today). I’d be interested to
by lettergram 5y ago
One interesting thing to note..
Historically, 1-1.5lbs of silver bought you a sheep and it’s the same for today (Rome -> 1500 -> Today).
I’d be interested to see what 2021 brings..
- squiggleblaz 5y agoI guess that information is cherry-picked? Or are you saying that at all time we have accessible record, the price of a sheep has exceeded 1 pound of silver and always been below 1.5 pounds of silver?
- lettergram 5y agoI was just pointing out something interesting and stable. silver and gold have continued to be relatively comparable to historic prices (obviously there are spikes based on needs). Fiat dollars are not stable and are intentionally worth less every year. This lets the banks and government just inflate themselves out of debt. I never keep cash for instance, typically only what I need for 45-60 days. The rest is in investments (crypto, stock, land, silver & gold, guns, etc)
- jpadkins 5y agoit's true for other things where we have historical records and the production method hasn't changed significantly (productivity). for example, a hand tailored italian shoes + suit is 1 oz of gold, going back to roman times. The style and material have changed, but the tailor labor : gold ratio hasn't changed much.
- 988747 5y agoSimilarily, 30 ounces of gold could buy you a car (Ford Model T) in 1912, and can still buy you pretty nice car now (anything that costs ca 60,000 USD)