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52693058 No.52693058 [Reply] [Original]

Gold has underperformed compared to fiat inflation this year.
LMAO

>> No.52693296

>>52693058
What about the last 50 years?

How much gold could you buy with $1000 in 1950 versus today?

>> No.52693386

>>52693296
This.

Gold has done a 50x since we switched from gold standard to fiat

>> No.52693847

>>52693058
Gold is highly overrated, but a solid reserve
Differentiation is good

>> No.52694027

>>52693296
>>52693386
So I did some napkin math.

Let's pretend your gramps bought 500oz of gold in 1950. This would have cost him about $20k. This would be no small feat, as the annual household income at the time was about $3000 annually. This amount of gold would likely be significantly more than the cost of his home, which would be valued at about $7500. But he'd have all this wealth stored in less than two square feet of space and it would never decay, deteriorate, or get destroyed.

That same 500oz of gold today would be worth about $900,000, or roughly twice the present day value of an average house.

If Gramp's house was in a place like Detroit, it would be valued at an abysmal price. But the gold value would still have grown.

>> No.52694076

>>52693296
>What about the last 50 years?
Were you holding gold 50 years ago? No you didn't so stop coping.
Gold has done nothing in the last 10 years. Imagine holding something that does NOTHING for TEN YEARS. In fact, you have actually lost a bit of money by holding gold.
L M A O

>> No.52694157
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52694157

>>52693296
what about the new gold that is found every year?
>b-b-b-but
HAHHAHAHAHAHAHAHAHAHAHAHHHAHAHAHAHAHAHAHAHAHAHHHAHAHAHAHAHAHAHAHAHAHHHAHAHAHAHAHAHAHAHAHAHHHAHAHAHAHAHAHAHAHAHAH

>> No.52694333
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52694333

>>52693386

>> No.52694342

>>52694027
My Grandpa's house last sold for 700k.

>> No.52694358
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52694358

>>52694027
Also, if Grandpa's house was in a place in Detroit that his house value didn't hold, that gold would be long, long gone.

>> No.52694392

>>52693058
That's because the only people who accept gold are pawn shops

>> No.52697113
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52697113

>>52694076
-70% from ATH

>> No.52697374

>>52697113
>-70% from ATH
What chart are you looking at that gold is down 70% of ATH lmao

>> No.52697499

>>52693296
>What about the last 50 years?
More sensible to look at the past 30 years.

>How much gold could you buy with $1000 in 1950 versus today?
The price of gold was literally set by governments in the 1950s, in America it was even illegal to go out and buy or sell $1000 of monetary gold in the 1950s as an individual but today you can.

https://en.wikipedia.org/wiki/Executive_Order_6102

>>52693386
>Gold has done a 50x since we switched from gold standard to fiat
It's real value ran up in the 70s when it was allowed to float but inflation adjusted since the 80s it's noting interesting

>> No.52697675

>>52693296
> last 50 years
> 1950
Anon I...

> 1950
Anon I...

>> No.52697759
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52697759

>>52693058
>This year
Anon, it is still 29 days left