2 ms·
The relevance is that this is not remotely an all-time high when denominated in gold (and, presumably, an implicit claim that a valuation in gold is in somehow
by lmm 3y ago
The relevance is that this is not remotely an all-time high when denominated in gold (and, presumably, an implicit claim that a valuation in gold is in somehow more "real" than a valuation in nominal yen)
- kortilla 3y agoThat’s idiotic because nobody actually deals in gold. It just means gold appreciates some amount. The way this is handled is standard inflation adjustment based on things people actually use.
- UncleMeat 3y agoOkay. But denominating in gold is a weird thing to do and only looks this way when you pick specific dates. Pick 1987 and 2000 as your dates and things look very different.