silver

[dreamboxvip]

Below $17 an ounce. Will it ever stop going down??

 

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[SilverFace]

Great chart, but it's inaccurate in a major way. The chart lets you know that, for instance, a loaf of bread that cost 10 cents in 1933 now costs $1.83. But we have to work longer to buy that bread now because in 1933 there were no federal, state, local, social security or sales taxes on an individual level in most cases. If the chart was in NET purchasing power, it would be a lot more accurate.

I had to write out "cents" because the original symbol has been omitted from the qwerty keyboard!

So I think what you are saying is, taking into consideration all the different increasingly burdensome government fiscal policies over the past century in addition to the Fed's destructive monetary policies over that same period of time that the USD (esp for Americans) is actually even a lot weaker than that chart shows?

 

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[Red James Cash]

now costs $1.83.

Where do you grocery shop,its about 3 to almost 5 bucks a loaf here

 

[jr98119]

Yes, Silverface, that is exactly what I was getting at, although you said it more succintly. When my father got his first full time job in 1938, he made $20 a (six day) week. The inflation adjusted equivalent of that now would buy less than what he was able to buy then (not dealing with technology, which costs less now in real terms.)

 

[jr98119]

Where do you grocery shop,its about 3 to almost 5 bucks a loaf here

Exactly! That's why these inflation calculators, which is where I got the $1.83, don't mean squat.

 

[fistfulladirt]

Let it keep going downI bought all mine when it was $4.20 an ounce.Let it drop,i'll just buy some more.

So when was that RJ, 1932?

Seriously though, that same $4.20, what would that be in today's dollars?

 

[Red James Cash]

So when was that RJ, 1932?

Lets see that had to be around 10 to 13 years or so ago.I'd have to look at my silver eagles to get the date

 

[danya]

I am waiting for it to go back all the way up to 30 USD again. May be a long wait.