TheCorinthian Posted March 19, 2011 Report Share Posted March 19, 2011 If things get bad, gold will not buy you much. In 1881 silver was a little more then one dollar. During the Great Deprsssion silver droppd to about on quarter. Oh gods not this crap again...? Do some math there bukko! In 2009, the relative worth of $1.00 from 1881 is: $21.70 using the Consumer Price Index $20.20 using the GDP deflator $143.00 using the unskilled wage $235.00 using the Production Worker Compensation $209.00 using the nominal GDP per capita $1,240.00 using the relative share of GDP Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 19, 2011 Report Share Posted March 19, 2011 If things get bad' date=' gold will not buy you much. In 1881 silver was a little more then one dollar. During the Great Deprsssion silver droppd to about on quarter.[/quote'] Oh gods not this crap again...? Do some math there bukko! In 2009, the relative worth of $1.00 from 1881 is: $21.70 using the Consumer Price Index $20.20 using the GDP deflator $143.00 using the unskilled wage $235.00 using the Production Worker Compensation $209.00 using the nominal GDP per capita $1,240.00 using the relative share of GDP I guess you didn't read my post! If you had bought an ounce of silver in 1881 it was worth only about 25 cents during the Great Depression. Most people who know basic math would say that would be a terrible investment.As I sad, if the economy gets worse, gold might not be a good investment just like it wasn't a good investment during the Great Depression. As one economist recently said [color:red]"If things get worse, having a gun to trade might be worth a lot compared to gold. A person might trade for a gun but probably will not trade for gold".[/color] Link to comment Share on other sites More sharing options...
TheCorinthian Posted March 19, 2011 Report Share Posted March 19, 2011 I guess you didn't read my post! No I read it. Your post was just meaningless. I helped you by adding the necessary info to make it (a little) relevant. You can't compare the price of anything like that and not show what it would buy. Silver was, yea, about $1 in 1881. But that $1 in silver fed a family of 6 for a week depending on which math you do. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 19, 2011 Report Share Posted March 19, 2011 I guess you didn't read my post! No I read it. Your post was just meaningless. I helped you by adding the necessary info to make it (a little) relevant. You can't compare the price of anything like that and not show what it would buy. Silver was' date=' yea, about $1 in 1881. But that $1 in silver fed a family of 6 for a week depending on which math you do.[/quote'] You had better go back to school. During the Great Depression items cost more then they did during the Great Depression. But an ounce of silver was worth 1/4 of the 1881 value. . An ounce of Silver in 1881 that was worth $1.00 was worth something. But when the Great Depression came and an ounce of silver was worth about one quarter, mine after mine closed. Why did the mines close? They could not make a profit. They were operating in the red. Link to comment Share on other sites More sharing options...
cavanami Posted March 20, 2011 Report Share Posted March 20, 2011 ...and how much has paper money been worth in tough times...NOTHING! There are many pictures of people burning paper money to stay warm, as it was cheaper to burn the money then to burn fuel! For thousands of years, gold and silver has been used for trading and has been stable, way more stable then paper money has ever been. 1970, use your US dollars to buy one ounce of gold, at say $38/ounce...today, what can you buy with that one ounce of gold, $1400 worth and your $38, even if you had it in a bank account getting compound interest, buying power is squat and that $38 didn't increase all that much compared to gold. Link to comment Share on other sites More sharing options...
Flashermac Posted March 20, 2011 Report Share Posted March 20, 2011 << During the Great Depression items cost more then they did during the Great Depression. >> Link to comment Share on other sites More sharing options...
TheCorinthian Posted March 20, 2011 Report Share Posted March 20, 2011 ...and how much has paper money been worth in tough times...NOTHING!There are many pictures of people burning paper money to stay warm, as it was cheaper to burn the money then to burn fuel! For thousands of years, gold and silver has been used for trading and has been stable, way more stable then paper money has ever been. 1970, use your US dollars to buy one ounce of gold, at say $38/ounce...today, what can you buy with that one ounce of gold, $1400 worth and your $38, even if you had it in a bank account getting compound interest, buying power is squat and that $38 didn't increase all that much compared to gold. You all need a course in economics. Link to comment Share on other sites More sharing options...
TheCorinthian Posted March 20, 2011 Report Share Posted March 20, 2011 During the Great Depression items cost more then they did during the Great Depression. Wow, you actually wrote that and still you wonder why I gave up trying to explain things to you? Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 20, 2011 Report Share Posted March 20, 2011 During the Great Depression items cost more then they did during the Great Depression. Wow' date=' you actually wrote that and still you wonder why I gave up trying to explain things to you? [/quote'] I was in a hurry when I wrote that. Items in the Great Depression cost more then they did in 1881. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 20, 2011 Report Share Posted March 20, 2011 This part of the thread came about because some claim gold is a good investment. I claimed that might not be true. Take silver for example. In 1881 it was a little over $1.00 for one ounce. During the great depression, the same ounce of silver was worth about 25 cents. Not a very good investment. Link to comment Share on other sites More sharing options...
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