My old-timer dad used to say that an ounce of gold could buy a nice men’s suit or a nice handgun. Now an ounce of gold could buy a nice men’s suit, and several nice handguns.
Another observation on price versus value, homes are CHEAPER today:
The dollar didn’t just weaken — it quietly robbed you. Down 28% in five years.
My parents bought their house in 1962 for $16,000.
Back then, gold was $35 an ounce. That house cost 457 ounces of gold.
Today, the house is “worth” $750,000. Gold is about $3,300 an ounce.
That same house is 227 ounces of gold — half the real value.
Everyone thinks they got rich. They didn’t. The measuring stick got warped.
That’s the scam of inflation. Prices go up, politicians get away with it.
People confuse bigger numbers with more wealth.
A million dollars today feels impressive — until you realize it’s the purchasing power of about eighty grand in 1970.
You’re not richer.
The currency is weaker.
When gold was under $600 I paid 2.4 ounces gold and 7 oz silver for a new in box match grade M1A and 2 stainless steel Browning Hi Powers 🤠