100 ounces of gold in 1980 would buy an $80,000 car. 100 ounces of gold in 1982 would buy a $30,000 car. SO what was your point?
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The point is that the value of gold is more constant than the value of paper dollars, your illustration notwithstanding. Apparently you choose to believe that when the price of gold in dollars fluctuates wildly that the problem is with gold. I don't see it that way, I see the problem as being with the unbacked dollar.
I'd have to disagree. Your precious gold lost over 60% of its value from 1980 to 1982. Doesn't sound very constant.
Apparently you choose to believe that when the price of gold in dollars fluctuates wildly that the problem is with gold.
No. I just think it shows the ridiculousness of your premise.
I see the problem as being with the unbacked dollar.
The unbacked dollar that buys more gold in 2006 than it did in 1980? That's funny!