HomeEconomyPrice of gold from 1900 to 2012 with gold’s purchasing power of bread comparison

Comments

Price of gold from 1900 to 2012 with gold’s purchasing power of bread comparison — 16 Comments

  1. Brother,

    Any articles or thoughts you may have regarding the believer’s response to the coming one-world system that implements the mark of the beast?

    Glenn

  2. I don’t think that the dollar is going to lose all its value, but I certainly thing it will lose quite a bit and possibly even its reserve currency status in the near future. About the only thing that the dollar has going for it is the fact that oil is traded using it. If it wasn’t for that fact, we would have been dead quite a long time ago. To preserve the value of your dollar, gold or silver are certainly a worthwhile investment.

  3. Hello Sir,

    How are you?

    I am agree with you! The US dollar is a bomb! The international monetary system and the commercial relationships are sitting over a time bomb!

    I am writting a economic book in order to break with the fiat currency, and create a new monetary system. This new system will be even more powerfull than the gold standard.

    I would like to know more about you.

    Pleased to meet you!

    Best Regards from Madrid.

    • Hello Pedro,

      Thank you for your comments. If you want to know more about me and what I hold to be truth, please read through the pages and posts on this website.

      Thank you.

      Best wishes from Japan,
      James

  4. Hi James,
    Guess your pastor needs to stick to preaching the word of God and not pronounce on things he doesn’t understand, huh? With gold crashing thru the $1200 mark and no end in sight to its free fall all the goldbugs have grown very quiet. Sure I’m bitter, I bought at $1700/ounce..

    • Jon, I still think gold is a good investment. You only lost that money if you sold it. Though you bought it at $1700 a ounce and it’s $1200 now, you can be sure it won’t stay that way for long. Soon I believe it will shoot up much higher than $1700 an ounce.

    • You bought high, yes, allot of people have had that bad luck. Im sorry. But I believe you could still be sitting pretty with that gold. You cant really compare the dollar against the weight of gold very well. The value in either has to do with what either can purchase at any given time. How many coffee cups, town homes, shoes etc. Things like that don’t go up in value. The dollar goes down in value. The weight of that gold will not change its purchasing power very much over the very long run. The dollar’s purchasing power is constantly decreasing and decreasing. The bread, condo, and shoes your dollar can buy is always becoming less and less. The amount of those same things your gold will buy should remain consistent. AND. If the dollar really crashes, which I believe it will, and certainly many currencies have crashed. So why not the dollar? If that happens, you will need a wheel-barrel of dollars to buy a loaf of bread. But the amount of bread per weight of gold should not change.

      • Gold is an super great investment.I too think US dollar is going to crash soon, plus pandemic is going on.
        That’s why Warren buffet has invested over 500+ Mn. $ in gold, because he know it.😉

  5. So, five years later in 2019 and gold still isn’t back to $1,700 an ounce (currently about $1,300) and the dollar still hasn’t crashed to zero. A loaf of bread in the US is $2.50 so an ounce of gold will buy you roughly 600 loaves of bread. So much for the 400 loaves.

    Yet more evidence that, given enough belief, actual truth don’t matter. And re: your pastor who predicted “for decades” that the US dollar would collapse — you’d think after the first couple of decades you’d recognize that he had no clue.

    • OK Peter, you got me about my statements about the price of gold not falling and about the fall of the dollar back in 2012. But though you may pay $2.50 for a loaf of bread on the US mainland, I pay $4.00 or more on the US territory of Guam which means I can buy only 325 loaves of bread with an ounce of gold. Check out the cost of living in Guam! https://www.expatistan.com/cost-of-living/country/guam I currently pay $4.22 for a gallon of regular gasoline. How about you?

      I still believe the US dollar is going to crash someday, sooner or later. Russia is seeking to ditch US dollars: https://www.rt.com/business/440675-russia-ditching-dollar-euro/. China too. And even if people bought gold at $1700 an ounce in February of 2012, if they just hung on to that investment and kept that gold, they would still be far better off than a person whose main assets are in the bank or in digital format.

  6. Well here we are in 2019. I completely understand inflación is a needed thing in every country, about %3 a year & that gold is a hedge vs inflación so in that regard I like to buy gold & silver when I have extra cash. Mostly all my gold & silver I bought at a low point in recent years but I did buy a $50 peso centenario en 2012 when gold was about $1,700. The funny thing is that I bought it in Mexican pesos & it cost me $28,000 pesos ok. From 2012 to 2019 the peso has lost 50% of its value to the dollar. So now in 2019 that gold coin is still worth about $29,000 today. Imagine if it went back to $1,700-$2,000 I would make a killing right? Well no because im getting back my purchase power back from 2012. Point is that of you end up buying hi don’t worry about it because if you ever sell it , it will be in the next economic crisis & when gold & silver get on a bull it runs away in months & you will regain. Maybe make some money. I don’t see the dollar going anywhere soon. Bit maybe some runaway inflation with the 22.2 Trillion Dollar Debt. Another good point…. take a look at Venezuela or Greece. They had %1000 inflation just this last year. Imagine those people lost all their savings in months. Point is when sh*t hits the fan it goes it fast & without warning. I would hold on to my savings in gold or silver but don’t let it affect your daily life. & don’t go running & sell everything to buy gold. Just put some aside & know that of the day comes you have something safe & proven to fall back on. From Mexico , thx guys.

    • Thank you Roy for your excellent comments! It’s exactly what I believe. Gold will never lose its value to the point it becomes worthless. The Russian ruble during the time of the Soviet Union was said to equal the buying value of one US dollar, meaning 1 ruble = $1.00. The ruble was even divided up into 100 units called Kopecks. When I lived in Russia in 1997, the value of the ruble had decreased to $1.00 USD = 5500 rubles. My Russian friend lost her life savings. Giving Kopeck coins to a beggar was no different than giving them stones. They couldn’t buy anything with them.

  7. One more thing… bread in mexico is cheap , about $33 pesos for a large 680g loaf. So I could buy 738 loafs of bread with one oz of gold.

Leave a Reply

Your email address will not be published. Required fields are marked *

HTML tags allowed in your comment: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

James Japan