Re: Price of silver during inflation and deflation.


<Usenet2007@xxxxxxxxxxxxxxxxx> wrote in message
news:MPG.215263b7f4c93fa7989d3b@xxxxxxxxxxxxxxxx
In article <5krdf3F52c18U1@xxxxxxxxxxxxxxxxxx>,
DaveHinz@xxxxxxxxx says...
On Wed, 12 Sep 2007 19:51:59 -0400, Bruce Remick <remick@xxxxxxx> wrote:

"Dave Hinz" <DaveHinz@xxxxxxxxx> wrote in message
news:5kr0bfF53gq9U1@xxxxxxxxxxxxxxxxxxxxx

Maybe a better way to look at it - in the 1920's, a $20.00 gold piece
(almost an ounce of gold) would buy a decent man's suit. Today, the
price of an ounce of gold, will buy a decent man's suit.

700 bucks for a suit that only qualifies as "decent"!!?? I own one
suit,
bought over 25 years ago for formal emergencies, and now I'm hoping
I'll
never have to shop for another one, figuring the last time I'll need to
get
mine out will be when they slit it up the back. I think I wore it a
year
ago and several friends didn't recognize me.

I have one suit that I bought about, well, 30 pounds ago. I have two
ties, somewhere. Last time I wore the tie was for a job interview...3
jobs ago. But somewhere I've heard of suits that go for several grand
(go figure!) so I figger 750 is middle ground-ish.


The other alleged constancy item is how many loaves of bread can
be bought with one ounce of gold. But I haven't check into
whether it is true or not.

That can be hard to evaluate and equate unless you factor in today's
efficient mass production of bread loaves versus how things were done in the
1920's. Maybe it would be more valid to compare prices of handmade loaves
from a bakery.





.

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