Loading ...He’s not taking into consideration, of the various dollar’s value or the typical manipulation in the futures markets. He’s not adjusting for rising or declining annual gold production, depending on price or purity. Years ago 1 oz out of a ton was good. These days they are happy with 4-5 grams per ton.
House 1971, cost in dollars $40,000, Gold cost was $140, = 285 oz’s to buy house.
House 2017, cost in dollars $400,000, Gold cost $1200, = 333 oz’s to buy house. Gold cheaper today than 1971.
Car 1971, cost in dollars $3,000, Gold cost was $140, = 21 oz for car.
Car 2017, cost in dollars $35,000, Gold cost $1200, = 29 ozs for a car, Gold cheaper again.
Typical wages in 1971, $10,000, Gold cost $140, = 71 ozs annual pay in gold.
Typical wages in 2017, $50,000, gold cost $1200, = 41 ozs annual pay in gold. <<<
Wages are 42% LOWER than in 1971, USA peak of prosperity. There lies the bottom line problems of today. Wages and net tax receipts are too low, and we have a $19 trillion TAB.