INFLATION: $250k in Gold 1880 to 2024!
- Thread starter nickndfl
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Cigarlover
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In 1880 the gold price was 20 bucks. so a 1/4 million in gold in 1880 would be 12,500 ounces. Roughly 780 lbs. Todays value would be over 29 million.
Not funny or shocking. It's currency debasement at work. We're paid moar; and everything costs moar.
Which is what happens with fiat and money-printing. It makes saving in the currency unit that's being debased, a fool's mission.
It ALSO makes it impossible to really profit from the miracle of capitalism - Compound Interest. It's just not there, when the monetary system is being deliberately destroyed.
So the only option is to save in precious metals. Foregoing interest - it's not there, now; all one can hope for is to preserve wealth, preserve buying power.
Cigarlover
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1/4 mil in silver would be a little more than 6.8 million today. Gold was clearly the better holding.
Thats just going by roughly the spot prices and not taking into account the numismatic value of 250,000 silver dollars from 1880