geof_junk Posted August 16, 2021 Share Posted August 16, 2021 Today is the 50 years after Richard Nixon took USA of the Gold Standard. The price of gold has gone up about 7 to 8 times its value. The USA $ is now worth 90% of of its value back then. Link to comment Share on other sites More sharing options...
oneguy Posted August 16, 2021 Share Posted August 16, 2021 8 hours ago, geof_junk said: Today is the 50 years after Richard Nixon took USA of the Gold Standard. The price of gold has gone up about 7 to 8 times its value. The USA $ is now worth 90% of of its value back then. Do you mean 90% LESS than back then???? My bullion 1 ozt. coins ( Maple Leafs, a couple graded old U.S. double eagles) average is $1160/coin. So in dollar #'s I surely am ahead and made money. In real sense, with inflation, worthless fiat based on "faith" US dollar all I really did with the gold is preserve some wealth. IMO....the current prices of gold just inform me of how worthless the fiat money really is at current prices?. Gold...the great hedge and damned glad for both the bullion and the wild gold... Link to comment Share on other sites More sharing options...
MSC Posted August 16, 2021 Share Posted August 16, 2021 I think you o mean 90% less. Link to comment Share on other sites More sharing options...
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