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Even though you are cherry picking a peak value, I don't follow your logic. $100 worth of gold bought at $850/ounce buys 0.117 ounces of gold. Today that gold
by pdq 11y ago
Even though you are cherry picking a peak value, I don't follow your logic.
$100 worth of gold bought at $850/ounce buys 0.117 ounces of gold. Today that gold (at $1181/ounce) is worth $138.90.
Your cash is worth $100.
- lisper 11y agoI was using inflation-adjusted prices. I took the phrase "$100 of their currency now" to mean one hundred 1980 dollars now, which would be worth about $250. Otherwise the argument is a straw man. Any non-perishable commodity is going to outperform an inflating currency in the long run. There's nothing particularly special about gold in that regard.