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I mean, if you look at history, the perceived value of a lump of gold has changed a lot over time. Even if you assume that recent price differences are due to w
by UncleMeat 5y ago
I mean, if you look at history, the perceived value of a lump of gold has changed a lot over time. Even if you assume that recent price differences are due to wild swings in the value of currency (apparently a dollar was worth twice as much in 2000 as in 1990), the claim that the value of gold has been consistent over millennia is just not true.
The way I know this was because of the giant laugh that my historian wife gave when I showed her your comment.
- zaroth 5y agoI think you’d be hard pressed to find anything else in human history with a 10-year or 100-year average value as stable as gold. Do the exercise in terms of housing/lodging, loaves of bread, nice attire, annual median wages, etc…
- UncleMeat 5y agoSure. "Gold has been an expensive commodity for a very large amount of human history, and few commodities have this property" and "has held consistent value for millennia" are very different claims.