Burning Money - $4+ Trillion USD So Far

[Taxslave2]

It is what it's worth to gold. 1 freakin milligram of gold is worth $1.37 CAD. 1 year ago it was $1.05.

That's a dive of 20%.

WHich would be relevant if we were on the gold standard, But we are not.

 

[petros]

WHich would be relevant if we were on the gold standard, But we are not.

It now takes $1000 more dollars to buy an Oz of gold than it did one year ago. The value of gold didn't change. The value of the dollar dropped.

 

[Taxslave2]

It now takes $1000 more dollars to buy an Oz of gold than it did one year ago. The value of gold didn't change. The value of the dollar dropped.

I have never seen value in gold except for what is needed for electronics.

 

[petros]

I have never seen value in gold except for what is needed for electronics.

Then you don't understand money.

 

[Taxslave2]

Then you don't understand money.

I understand money just fine. Since we are not on the gold standard, gold doesn't make much sense. Not like you can eat it.

 

[petros]

I understand money just fine. Since we are not on the gold standard, gold doesn't make much sense. Not like you can eat it.

If we were on the gold standard cash wouldn't have lost $1000 of value in one year to an Oz of gold. The higher gold goes the less cash is worth.

 

[pgs]

If we were on the gold standard cash wouldn't have lost $1000 of value in one year to an Oz of gold. The higher gold goes the less cash is worth.

And one can still find gold with a pick shovel and sweat .