Interesting post. Substitute BTC for Gold, and you might be on to something.
Gold is not an investment. It’s an insurance policy. Is it a good one? I don’t know. What I do know, is that for the average person (obviously my view) it’s a better option than anything else that exists. And has been for 1000s of years.
Interesting post. Substitute BTC for Gold, and you might be on to something.
Gold is not an investment. It’s an insurance policy. Is it a good one? I don’t know. What I do know, is that for the average person (obviously my view) it’s a better option than anything else that exists. And has been for 1000s of years.
Viewing gold as an investment, particularly over short time frames, is an incorrect approach.
I’ll leave it at this: if you research the Roman Empire you will discover that when a man’s daughter got married, he was expected to buy and wear a new custom woolen Toga, draped over his everyday Tunic, to mark the solemnity of the occasion. The cost of that new woolen Toga, 1oz of gold. For a ‘working class’ Roman citizen, that might be a year or two of labor to save enough money to accumulate an Oz of gold.
Today, a moderately priced custom suit costs 1oz of gold.
Priced in Oz of gold, the median price of a house today, is the same as it was in 1975.
I’ll take my chances with the shiny metal, which has tracked the destruction of purchasing power of fiat currencies for 1000s of years.
"Priced in Oz of gold, the median price of a house today, is the same as it was in 1975." No way. The fed note to exchange rate for an ounce of gold is way off from the median price of a home where I resided in 1975. I could have bought quite a nice place in Morristown TN for $45,000 in 1975. That same house today is worth in the same location, according to Zillow $196,000, which I see as inflated for the area and it's not on the market. In 1975 gold was about $185 per ounce. That means in 1975 your house would have cost 283 ounces of gold. That same house today costs $196,000 and the price of gold is right about $2300 which is about 85 ounces of gold. So the gold "value" has FAR outstripped the Fed note value. Read this: https://www.courageouslion.us/p/thank-you-federal-reserve EVERYONE should read that. As a matter of fact for an economics lesson you will not get anywhere "credited" read this: https://www.courageouslion.us/p/blood-running-in-the-streets-mobs
I get your point. But you are not making the comparison I made. Although it’s still a good comparison. I said the median home price, perhaps I could have made it clear I meant on a national basis.
Bottom line, as you correctly state for your area, and true nationally as well, priced in gold housing is the same or cheaper than it was in 1975.
Interesting post. Substitute BTC for Gold, and you might be on to something.
Gold is not an investment. It’s an insurance policy. Is it a good one? I don’t know. What I do know, is that for the average person (obviously my view) it’s a better option than anything else that exists. And has been for 1000s of years.
Viewing gold as an investment, particularly over short time frames, is an incorrect approach.
I’ll leave it at this: if you research the Roman Empire you will discover that when a man’s daughter got married, he was expected to buy and wear a new custom woolen Toga, draped over his everyday Tunic, to mark the solemnity of the occasion. The cost of that new woolen Toga, 1oz of gold. For a ‘working class’ Roman citizen, that might be a year or two of labor to save enough money to accumulate an Oz of gold.
Today, a moderately priced custom suit costs 1oz of gold.
Priced in Oz of gold, the median price of a house today, is the same as it was in 1975.
I’ll take my chances with the shiny metal, which has tracked the destruction of purchasing power of fiat currencies for 1000s of years.
"Priced in Oz of gold, the median price of a house today, is the same as it was in 1975." No way. The fed note to exchange rate for an ounce of gold is way off from the median price of a home where I resided in 1975. I could have bought quite a nice place in Morristown TN for $45,000 in 1975. That same house today is worth in the same location, according to Zillow $196,000, which I see as inflated for the area and it's not on the market. In 1975 gold was about $185 per ounce. That means in 1975 your house would have cost 283 ounces of gold. That same house today costs $196,000 and the price of gold is right about $2300 which is about 85 ounces of gold. So the gold "value" has FAR outstripped the Fed note value. Read this: https://www.courageouslion.us/p/thank-you-federal-reserve EVERYONE should read that. As a matter of fact for an economics lesson you will not get anywhere "credited" read this: https://www.courageouslion.us/p/blood-running-in-the-streets-mobs
I get your point. But you are not making the comparison I made. Although it’s still a good comparison. I said the median home price, perhaps I could have made it clear I meant on a national basis.
Bottom line, as you correctly state for your area, and true nationally as well, priced in gold housing is the same or cheaper than it was in 1975.
Also thanks for the links. I’ll check out your stack.
I did read both pieces. They were great. Total agreement.