1. Given the media intensity given to the Covid 19 (otherwise known as Corona or Wuhan) virus, there seems no reason to have posts on that very specific subject in several forums Accordingly, all of those posts will be moved to "Headlines". All new items on that subject should be posted there as well. This notice will expire on 30 April, or be extended if needed. Thanks, folks.

The Dollar is worth 4 cents right now

Discussion in 'General Discussion' started by melbo, Dec 30, 2005.

  1. melbo

    melbo Hunter Gatherer Administrator Founding Member

    From another site:
    From another site:

    (tlaga) Dec 30, 21:29

    Gold must be priced in something other than gold.

    Before the fiat money system was smuggled in under disguise of the gold standard, gold was priced in silver and silver was priced in gold. Both media had natural ceiling on their overall quantity. Gold bull market was then impossible because it would imply continuous rapid increase of silver production, which was plainly impossible. Under fiat, no such natural ceiling exists, as the quantity of fiat money can be increased ad infinitum.
    But in reality, gold's real economic value remains the same; it's the value of the fiat counterfeits that is continuously going down, thus creating an illusion of the gold value going up.

    Gold's real value never goes up, that's why gold is the money par excellence.

    Re-pricing of our gold in greater and greater amount of fiat notes is not much of a purpose of life, or is it?

    $20.67 ounce of gold re-priced in present CPI 5-cent “dollars” is worth $413.40. ($20.67 x 20 = $413.40)

    But at the present price of $516.60, gold is already re-priced in 4-cent “dollars”. ($20.67 x 25 = $516.75)

    Hurah! Every ounce we own is now worth 103.20 ”dollars”, or 25 percent, more!

    It’s no use to argue that these are 4-cent “dollars”, not 5-cent “dollars”. No one will listen. No one wants to listen.
    ************************************************** *****

    What happens when our US dollar is worth say "half-a-cent?"

    Eight times its price now plus or minus, right?
survivalmonkey SSL seal        survivalmonkey.com warrant canary