{"id":62684,"date":"2022-05-19T06:42:54","date_gmt":"2022-05-19T11:42:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62684"},"modified":"2022-05-19T06:42:54","modified_gmt":"2022-05-19T11:42:54","slug":"gold-as-cheap-today-as-in-1971-at-35","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62684","title":{"rendered":"Gold As Cheap Today As In 1971 At $35"},"content":{"rendered":"
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GOLD AS CHEAP TODAY AS IN 1971 AT $35<\/a><\/h3>\n<\/header>\n
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\u201cSpecie (gold and silver coin) is the most perfect medium because it will preserve its own level, because having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.\u201d\u00a0 \u2013\u00a0<\/strong>Thomas Jefferson<\/p>\n

Since no current President or Prime Minister nor any Central Bank Chairman understands what money is or the relevance of gold, we turn above back to history and Thomas Jefferson, America\u2019s third president for a proper definition.<\/p>\n

Jefferson also understood that\u00a0\u201cPaper is Poverty, It is only the Ghost of Money, and not Money itself.\u201d<\/strong><\/p>\n

As the world economy goes towards an inflationary depression exacerbated not only by epic debts and deficits but now also by war, the significance of gold takes on a whole different dimension.<\/p>\n

So let\u2019s dissect Jefferson\u2019s statement:<\/p>\n

\u201c(GOLD) Will preserve its own level\u201d<\/strong><\/p>\n

Gold is\u00a0Constant Purchasing Power<\/strong>.\u00a0<\/strong>As such, gold doesn\u2019t go up in real terms. An ounce of gold today buys a good suit for a man just like it did in Roman times.<\/p>\n

The graph below shows gold as constant purchasing power at the 100 line whilst all the currencies are crashing to the bottom.<\/p>\n

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\"\"<\/figure>\n<\/div>\n

All currencies are continuing to lose value against real money although it never takes place in a straight line. With higher interest rates & inflation, higher deficits & debts, poverty, cost of wars and increasing pressures in the financial system, the currency debasement will now accelerate.<\/p>\n

Gold is not an investment. Gold is eternal money. As such gold maintains its REAL value whereas paper money loses all its value over time. For 5000 years gold has outlived all other forms of money including paper money.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

GOLD AS CHEAP TODAY AS IN 1971 AT $35 \u201cSpecie (gold and silver coin) is the most perfect medium because it will preserve its own level, because having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.\u201d\u00a0 \u2013\u00a0Thomas Jefferson Since no […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[14995,309,374,18507,426,536,538,13351],"class_list":["post-62684","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-egon-von-greyerz","tag-fiat-currency","tag-gold","tag-gold-switzerland","tag-inflation","tag-money","tag-money-printing","tag-price-inflation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62684"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62684\/revisions"}],"predecessor-version":[{"id":62685,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62684\/revisions\/62685"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}