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To: Mulder; Lurker
Why are you using the peak of the gold bull market in 1980, and then the peak of the housing (credit) bubble in 2005 as your points for comparison?

I was responding to this: In 1963 a decent suit cost around $35.00, same as an ounce of gold. Today a decent suit costs around 500 bucks, just about the same as an ounce of gold. Therefore in around 40 years gold has neither gained nor lost any purchasing power. That's what I meant by 'worth'.

Now, if you agree that this anecdote is true, and gold has kept the same value for the last 40 years, it shouldn't matter what you compare gold to or what time frame you consider. If you think an anecdote comparing gold to a single consumer product 40 years ago is a silly "fact" on which to base such a broad assertion, join the club.

156 posted on 01/17/2006 5:16:17 PM PST by Toddsterpatriot (Stop associating with Commies and we'll stop mentioning that you associate with Commies.)
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To: Toddsterpatriot
gold has kept the same value for the last 40 years

That's exactly the point. Gold maintains its purchasing power over time. Fiat currencies do not.

157 posted on 01/17/2006 5:35:35 PM PST by Mulder (“The spirit of resistance is so valuable, that I wish it to be always kept alive" Thomas Jefferson)
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