Author Insists Current Gold Price Cheaper Now Than in 1980
While gold is generally perceived to be the best hedge against inflation, a report written by author Kelsey Williams has now questioned this longstanding assertion. In the report, Williams argues that the current gold price of around $1,810 per ounce is much lower than the commodity’s average price in 1980. Gold Price Rise Lags Behind Inflation Williams’ averments suggest the yellow metal’s rate of increase in value over the past 41 years has lagged behind that of inflation. In a report that was published by FX Empire, the author uses nominal and....
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Taking U.S. dollar devaluation into account, Gold has still not reached the all-time price high it set in 1980. Gold bug and Bitcoin (BTC) skeptic Peter Schiff was just 17 years old when the yellow metal set its true all-time price high. Meanwhile, Bitcoin, a much younger asset, sits close to its inflation-adjusted all-time high, or ATH, after just three years of downward pressure.Adjusted for inflation, gold reached a price of $678 U.S. dollars in 1980, according to a breakdown from Visual Capitalist. Accounting for inflation, based on calculations from Officialdata .org, $678 in 1980....
Just recently the American author, economist, and retired politician Ron Paul discussed the rising tensions between China and Taiwan during an interview and he talked about the U.S. economy as well. Paul insists that the U.S. economy’s “collapse will come,” and he further stressed that “debt has to be liquidated.”
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Holger Zschaepitz, best selling financial author of “A book on states’ addictiveness to debt” and senior editor at Welt, recently discovered an intriguing relationship between gold and bitcoin: when gold plummets in value, the price of bitcoin surges. Based on this trend, he noted that bitcoin is beginning to be recognized as the new global safe haven....
Clif High’s estimation that three ounces of gold would be equal to a Bitcoin in price by this time next year remains a bizarre proposition that is not impossible to achieve. In a way, a predicted Bitcoin price rise from a meager $1180 to more than $13,000 seems attractive and the technicality of how that would be the case defies common understanding of the law of demand and supply. It could be a repeat of the 1979/1980 scenario. This link to a historical event particularly fits in with the fact that High’s data sets have been proven accurate in other instances and his latest estimate show....
Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished - even soaring to over $1,000 an ounce in recent times. Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities. It's no wonder, then, that companies like Netagio nowallow people to trade bitcoin for precious metals like gold - it is a sign that investors want the ability....