Loading ...I often thought about that long ago, and according to my calculations, on average, going back to 1964 to 1970 era, everything costs 20 times more dollars to buy today. Silver was about $1/ounce, times 20? $20/ounce is about right.
Gold was against the law to own, but was trading privately at $140/ounce, times 20? $2800/oz Gold is about right. In a sense, the Gold is trying to catch up to Silver. That’s why I gave upon Silver a long time ago.
The advantage Silver has is its very volatile like a pink sheet stock compared to Gold a slow moving Blue Chip stock. So its good to have a foot in each pond. “Cheap” is not always cheap. (like imports) You could say, cheap is cheap.
A loaf of bread in 1964 (last of of 90% silver coinage) was .22 cents. .22 cents times 20? $4.40 per loaf is about right. I have a loaf of Arnolds Country white that has $2.29 price on it.
I have studied “constant value in dollars” and “constant value pay checks” my whole life. I can tell the US gov’t what the CPI, or what inflation number are, far far better than they can. However, they don’t want the truth? Or they are not smart enough or old enough to figure it out.
Most likely the gov’t bean counters are Connivers, (To cooperate secretly in an illegal or wrongful action; collude) because they use Hedonics (if the car price is higher, but quality better, the car price didn’t go up, re Connivers)
P.S.
Our fake US Gov’t Gov’t before 1971 was giving our Gold away to foreign countries for $34/ounce to satisfy trade deficits. S/B $140/ounce, but demonstrators and activists got that stopped by 1971. Afterward, our anti American fake U.S. Gov’t gave away our manufacturing industries instead.
That process impoverished the whole USA ($22 Trillian debt) and culminated after 9/11 and the 2008 financial crisis, and its all going in reverse out of necessity for the greater good of foreign nations. They have to build us up financially first so they can gang bang or “harvest” us again later on. Like limits on duck hunting. 🙂