What You Have in Common with King Nebuchadnezzar

Commodity News Center ^ | 8/13/09 | Jeff Clark

[h20skier66]

"There's no reason to invest in gold," said the finance editor of a major newspaper interviewing me. "If gold goes up because of inflation, then so does everything else, so why buy it? It's not really a good investment."

She was serious. Yes, she is a finance writer. And yes, it's a newspaper you've heard of. But I can address Betsy's misunderstanding now, because part of what she said is correct: gold is not an investment.

Let's trace what an ounce of gold or silver - true money - has been able to purchase at various periods in history, and how it compares to today...

1979: Gold's average price that year was $306.68. This bought an average-priced full size bed.

►30 years later, $950 would still buy you a full size bed.

Time of Christ: Under the Roman Empire, an ounce of gold purchased a Roman citizen his toga (suit), a leather belt, and a pair of sandals.

►Today, one ounce of gold will still buy a man a suit, a leather belt, and a pair of shoes.

[h20skier66]

More great examples of what silver and gold could buy then versus what they can buy now. Someone should do one with what a dollar could buy yesterday versus what it can buy today...

[Nam Vet]

The more people who know this and act on it the quicker we will have an honest monetary system. (i.e. purchase and physically hold gold and silver)

Nam Vet

[parsifal]

What I have in common with Nevercaneezer, Nebbacheezer, Nekakbuka, oh heck, that guy you said:

The king loses his sanity and lives in the wild like an animal for seven years (by some considered as an attack of the madness called clinical boanthropy or alternately porphyria)?

parsy, who can’t even say the guy’s name

[Nuc1]

This is the chart they don’t want you to see: the purchasing power of the dollar over the past 76 years has declined by 94%. And based on current monetary and fiscal policy, we have at least another 94% to go. The only question is whether this will be achieved in 76 months this time. (Click chart to enlarge.)

Sorry I don’t know how to post pictures. Check out the site I included.

http://seekingalpha.com/article/136589-dollar-s-purchasing-power-annihilated-the-chart-they-don-t-want-you-to-see

Another site indicated that $.22 in I think 1910 is worth $20.00 today.

[muir_redwoods]

I own gold, silver and

lead

[jongaltsr]

I own gold, silver and lead

I own more lead then gold and silver combined.
* To protect my Gold and Silver.

[vetvetdoug]

I am beginning to think that Krag .3040 is worth more than gold. I have plenty of .306, .45 auto, .22 rimfire, and .308 but .3040 is almost impossible to find. One custom loader wants $45 for 20 rounds. I can get 45-70 rounds cheaper.

[Nam Vet]

I have 2 original bandoliers of 30-40 Krag. Been wondering where (cheaply) I can get some 45-70s.

Nam Vet

[goat granny]

If things don’t change soon in this country the monetary system will be ammo and spam..

[goat granny]

parsy is forgiven.......