10 votes

What is Labor Worth and Wages in Silver

By belangp :

What is Labor Worth, 11/2013 :


http://youtu.be/dRQzd2CFIyg

Wages in Silver, 8/2013 :


http://youtu.be/1ste493J9DA




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I feel like the point should

I feel like the point should be made that a little over 10 years ago, doing these calculations would result in the conclusion that gold and silver were an absolute terrible investment.

There is little link between the price of gold, the price of silver, the money supply, and inflation.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

Quiet rebuttal

I feel like the point should be made that a little over 10 years ago, doing these calculations would result in the conclusion that gold and silver were an absolute terrible investment.

"A terrible investment"? Hmm...

Let's see over the last 45 years (back to before the Nixon shock)...

http://goldratefortoday.org/images/goldchart.png

Your statement - between 1999's Central Bank Agreement and 2002?

Well, yes, absolutely. I have to agree - I'm not blind, either.

But hey, pssssst... did you notice during that 3 year period, though? Coincidence, coincidence... The infamous phrase "Central Bank" is thrown in there, that also coincides with a 2000 dot com bubble (which today would arguably look like a joke - without any QE infinity around).

Coincidence, uh?! Or what?

Otherwise...

Your statement - anywhere else prior to 1999 or after 2002? Er... sorry, but this time, LOL! NOT EVEN CLOSE! - and most of the time, without EVEN needing to index it on fiat money inflation.

Instead: a pretty good investment, actually; unless one likes to play poker so much they'd speculate up or down every six months... which, when owning gold, kind of defeats the purpose, no?

As for...

There is little link between the price of gold, the price of silver, the money supply, and inflation.

Well, in periods of hyperinflation and/or major crises (e.g., global economic crises, or world wars) - it is pretty conclusive - if we care about fact checking - that gold goes way beyond past the moon every time.

So much so that governments feel sorry every time to explain their people they're forced to either ban it as legal tender, or confiscate it, or downright reset their paper currencies altogether, trying to have the economy ignore gold as much as plausible (*) - and by that I do mean to say more crudely "who actually owns it"...

... until gold eventually catches up quietly, surreptitiously with their inflationary policies, and more in performance.

(* nope, it's no typo)

"Gold isn't money" Mr. Bernanke (and his likes) have proudly lectured us for a while now...

Out of curiosity:

would you bet any of your four limbs those people own absolutely zero ounces of gold anywhere?

I wouldn't. Quite the opposite.

And I don't speak with any envy, there (you know, I'm not a leech, I don't need to steal from others, to make money, thanks! ;) -

BUT!

granted, I DO SPEAK being FREAKING SICK AND TIRED they think we're THAT stupid, and they are still getting away with it, in their world wide global SCAM.

Seriously, do you like when people make fun of you through your own wallet FOR FREAKING DECADES?

I DON'T, here!

Sincerely!

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

So between 1980 and 1996,

So between 1980 and 1996, gold is fairly volatile. Overall, there is not much growth in the value compared to USD. During that time you'd have been 100% better off investing in government bonds, real estate, the stock market, etc. Inflation in the 80s was probably worse than it was today, yet you didn't see gold skyrocket.

You can see here, the price of gold in terms of constant dollars: did not do very well:
http://www.gold-eagle.com/article/gold-and-silver-constant-1...

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

That's correct, 1979 - 1986

That's correct, 1979 - 1986 is the second weakest period for gold as compared to other instruments, presumably with better performance at the time - assuming the people who'd be competent enough to distinguish those and invest wisely in them.

But I'd say:

"so, what?"

Everywhere else outside of (a) 1979 - 1986, (b) 1999 - 2002, and (c) 2011 - today (which accounts for 13 years out of 45 years total since 1968) - the assessment is:

not only gold preserved the wealth of its owners without even thinking about it - and for a number of years disastrous elsewhere in the $FRN (or the French Franc or ... you name it) - but also often accrued its owners' wealth when priced in other tangible, valuable assets - food, gas, etc.

This quite nicely fits in what I think is the very purpose of gold:

it's not for it to make you rich - it's for it to preserve your wealth (or a part of it, anyway).

Plus, this disagreement we have, I hope you can admit, is rather biased, considering you know as much as I do that gold, ever since Nixon, has precisely entered its period where it'd be the most "hated" by governments - in the sense that THEY DON'T WANT JOE living on main street to own it - but only their central banks and various cronies to do so.

Because that's all what they revealed themselves to be, since 1913 and the progressive abandon of the gold standard :

STATIST (even FASCIST, if you want) PLUNDERERS.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

looking forward to the day

... when i am in a position to say

sorry i no longer accept USD or any debt-based instrument... silver or gold only"

1964...and today

The minimum wage in 1964 - the last year 90% silver
coins were issued in the US - was $1.15 per hour.

At the current silver price of $19.65 per oz. the melt value
of $1.15 in pre-1965 silver coins comes to $17.41.

Which is 2.4 times the current federal minimum wage
of $7.25 per hour...

Cyril's picture

Yup. Simple math.

Yup. Simple math.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

US Wages Priced in gold.

Wages are at 1940 and 1980 levels. $1.60 Silver Dollars a day or about 300 ozAg a year.

http://pricedingold.com/us-wages/

Crude Oil is a 1950-60 prices in gold
http://pricedingold.com/crude-oil/

Who profits for the bubble ups and downs?

Who is in the know?

Free includes debt-free!

Cyril's picture

"Who is in the know?" Leeches posing as humans.

Q:

"Who is in the know?"

A:

Leeches posing as humans.

...

Family pictures :

http://federalreserve.gov/aboutthefed/default.htm

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

But Congress promised them

But Congress promised them that if the paid in $10,000,000 in gold the they would be guaranteed 6% return on their paid in Reserves after expenses.

Anything over 6% after expenses is paid to the US Treasury as a franchise tax.

Congress approved guaranteed income financed through IRS collections.

Free includes debt-free!

And if you factor in the

And if you factor in the current cost of living they are still worse off today.