Comment: How much was gold worth in 1970?

(See in situ)

In reply to comment: Why don't you do the math for him. (see in situ)

How much was gold worth in 1970?

At 5.30 mintues Gary Johnson says Medicare is a budget buster...Says people only put $30 into medicare and are getting $100 out....

Regarding your question about the 1970s investment into medicare at $15 a week:

Gold started the year 1970 at 34.94 per ounce. By the conclusion of 1970, the price was at 37.44 per ounce.

If you had been able to invest in gold at $15 a week in 1970 alone, how much gold would you have now after buying for 1 year and how much would it be worth today?

I did not spend the time to do the precise math...but you get the idea:

You would have in the neighborhood of $37,000 for the 1970 investment in gold alone because you would have been able to purchase about 21oz that year at $15 a week.

The problem is not that people put in too little and are getting more out of medicare now. The problem is that the Federal Government stole and wasted the people's money and now cannot deliver on its "promise."

I do not appreciate a bait and switch on the facts of the matter. I am sick and tired of watching my mom and Pop scrimp and worry after paying into SS/Med all their years only to be told they did not do enough. I could care less about my so called future "investment." I see it for what it is. P O N Z I And when I hear Gary Johnson speak the truth I will applaud it. How about "People, I know you paid into the system and the government wasted and defrauded you, but you have to understand, we can no longer afford it...I personally am sorry for you, but know, we will work together and pull thru..."

It seems to me, we are now in the process of dividing the young against the elderly and if you are in your 50s?, you are not far from being "culled"...and I am not too far behind you.