To: brityank
The fallacy in the equation is making Gold equal to a fixed amount of Currency, instead of the Currency equal to an amount of Gold. Well, if an ounce of gold is $1000 then $1000 is an ounce of gold. So much for your fallacy.
48 posted on
11/13/2009 9:11:16 AM PST by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot; expat_panama
Love your tagline.
The ‘value’ of Gold hasn’t changed much, the same amount of Gold today will get you a car as it did 100 years ago - “The standard Ford 4-seat open tourer of 1909 cost $850 (equivalent to $20,091 today).” http://en.wikipedia.org/wiki/Ford_Model_T#Price
Had the Dollar been pegged to the value of Gold any rise in the world markets would boost the value of the Dollar, not decreased it.
53 posted on
11/13/2009 9:41:10 AM PST by
brityank
(The more I learn about the Constitution, the more I realise this Government is UNconstitutional !! Â)
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