Off The Gold Standard

[geof_junk]

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.

[oneguy]

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...

[MSC]

I think you o mean 90% less.