The mind boggles at this:
Gold's price bottomed in 2001 at $257. Gold was a rotten investment, 1980?2001: $850 to $257. Silver was worse: $50 to $4. Yet consumer prices rose by about 100%.
Fact: gold did terribly in a time of steady monetary inflation and steady price inflation. The precious metals bubble of 1979 popped in January 1980 in response to the FED's tighter-money policy. Gold has never come back to its January 1980 peak: $2,100 in 1980 dollars.
$2100 in 1980!
That's a fortune back then. At 4% inflation you need about $7200 to meet that purchasing power today. In 1980 you would've been laughing all the way to the bank if you cashed in.
Is anyone holding gold at 2001 prices?
The mind boggles at this:Gold's price bottomed in 2001 at $257....
-
- There are more pages in this discussion • 139 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)