Discussion
So basically the math says I was making more gold per year at 14 part time at the chicken restaurant then I am now full time 20 years into my career.
This is what they took from us. We're taking it back.
GREATER DEPRESSION
GREATER DEPRESSION
GREATER DEPRESSION
"Source?,source?, source?," (I am a seagull)
Yes, the lack of a source is problematic.
And back in the day, household income was just one salary.
Sure, one income down the coal pit and a house with all the asbestos you’d ever need. Upgrade your complaint
this info wants to be free
Unreal chart. Crazy.
Is the 1965 Gold-Adjusted value a transposed typo? Is it supposed to be $470,600?
The U.S dollar keep falling in values.
Or gold is in a massive bubble
Do you think the printing will stop?
If the printing stops, then we'll see a drawdown probably.
Did the printing stop when gold was flat for 35 years or when it was falling for 20 years in the last century alone?
Of course it is.
Trump is not going to count all the gold in the reserve as he claimed. That would show how little actual, physical gold is available.
Do you really think the etfs that are driving the gold price have the gold either?
Bubbles are normally driven by some kind of irrational exuberance and they aren't backed by sound financial logic, like the tech bubble in 2000 and the housing bubble in 2008.
The value of the dollar continues to drop rapidly, and devaluing the dollar has been policy for decades, which would explain the move in gold. Recent inflation as well.
I'm not sure what the rationale would be to call it a bubble.
I'm all about bitcoin. I don't own gold. But I think the recent moves in gold seem justified and based in reality, not some over-the-top speculation.
I also think bitcoin drains a lot of the capital out of gold in the coming years.
Gold has been flat or falling in even nominal terms for more years than it has been rising in the last 100 years alone while your two ‘sound financial logic’ conditions existed.
Those were not my two 'sound financial conditions' - they were the opposite - unsound financial conditions.
The bubbles happened because tons of capital chased unsound business models like unprofitable web businesses and mortgage securities based on inflated housing prices sold to people who couldn't afford them.
Tons of capital chasing unsound business practices produces bubbles that pop. How does that relate to Gold currently? What is unsound about the capital piling into gold when the dollar is losing value and inflation has soared?
Ask that to someone who cashed out gold down 65% nominal in 1999 after believing people like you in 1980, when inflation had been high and the dollar had been falling right up to the peak
You're right to bring up the 1980s, but the context is key. Gold's price ran up hard to 1980 because of massive inflation in the 70s. The crash then happened because the Fed successfully fought inflation by raising rates to over 20%, which made the dollar stronger and killed the need for an inflation hedge.
Today, we're in a very different environment. Central banks are not aggressively fighting inflation, and the market knows that rates are about to come down again, even with the stock market and gold at all-time highs and inflation above target, and an out-of-control national debt.
The rise in gold isn't based on a speculative chase; it's a direct response to a loss of confidence in the underlying currency.
A bubble is when prices rise detached from fundamentals. But in this case, the fundamentals—money printing and fiscal irresponsibility—are what's driving the price. This isn't a bubble; it's a revaluation of gold to account for the depreciation of the dollar.
Your ai is even more stupid than you are.
First, there is no fundamental rule that gold must be valued at a certain USD price based on how much USD is in circulation. If there was gold would always reflect money in circulation, which it doesn’t.
Second, gold has not become more valuable. It is still a yellow pet rock.
Gold has risen because real yields have fallen, causing people to speculate (italics) on non yield bearing assets. Go and defend silver too if you like, it has risen too.
This unwinds as soon as real yields rise, not when ‘gold reprices higher’. So this is the definition of a bubble.
But feel free to keep wasting the earth’s energy producing garbage outputs like this, at least it will prevent you buying more crayons to chew on.
Ask someone who has chashed out Bitcoin down 75% nominal in 2022 after believing people like you in 2021...
Gold is used as the most stable reference point due to it's direct correlation with the energy and labour cost of mining and extraction it.
Is demand high, more mining will happen.
Is demand/price low mining is not feasible.
Secondly gold has always been a valued commodity all around the world.
So, believing printed paper by an obscure private entity, unlimited, is a more stable reference point than gold is stupidity.
The fact that basically every country would prefer imperfect printed paper tells you all you need to know about their unwillingness to value everything against your pet rock.
Stop wasting your crayons.
Few
Recently, ny favorite way to display this information is in hours worked to get an oz of gold. Since time is scarce, it seems to be more effective.
Whoa
Source?
Where does this come from? I mean, it looks plausible (e.g. compared to https://de.m.wikipedia.org/wiki/Goldpreis#Statistik)
Fuck
Worst time in a century for a median family
This! I have been saying this for years and people kept looking at me like I'm some weird, backwards, nostalgic, lunatic longing to live in his grandparents' time.
Theft hidden in plain sight, only for those who can see
Economical collapse in the last 20 years
Oof💀
I see a trend
Yeahhhhh
powerful.
I need a source for this. It appears to be different from what I can find
While I can confirm the median income is accurate for 1955 with the data I can find. However it appears that the gold rate exchange would make 4400 in gold from 1955 at $35.15/oz would be valued at $288000 today
Great table. People think they earn more but actually they’re suffering day after day and don’t realize it.
And they thought their suffering is due to immigrants or politics. So they are always fighting the wrong fight. When people can wake up from it?
Maybe it’s not my problem. I have escaped because I switch to bitcoin.
Someone remind me what's the purpose of gold.
It was the only decentralized currency in its heyday
Looks like price stability wasn't one of gold's strengths.
And I am on SS and have two adult kids living on my income of $26,000.00 per an....we truly are just barely eeking by.
Seeing this chart is so sad… Thanks god for Bitcoin 🙏
Wtf happened in the 70s 😉
what a way to steal millions of people their own energy and soul.
Always humbling to zoom out
Gm nostr,
I think a lot of people fear loosing their job to AI because they think getting a blue collar job won't pay their bills, meanwhile plumbers and electricians be making 740k a year in 1965.
I don't think we're even close to imagining how prosperous the world could be on a bitcoin standard.
This also explains why so many idolize the 90s
