A Sunspot
 

gwatts wrote:
Cecil Moore wrote:
I didn't say per year.

No, you didn't say 'per' anything.

If no time is specified, it is the change between then
(T0) and now (T1). At T0, when I was born, gold was worth
$27 an ounce. As of today, T1, I haven' died yet and gold
is worth $880 an ounce. According to my TI-34 that's
3259.25925925925925925925925925925 percent.
--
73, Cecil http://www.w5dxp.com
"According to the general theory of relativity,
space without ether is unthinkable." Albert Einstein

A Sunspot
 

Cecil Moore wrote:
gwatts wrote:
Cecil Moore wrote:
I didn't say per year.

No, you didn't say 'per' anything.

If no time is specified, it is the change between then
(T0) and now (T1).

Not if the term in question has a widely accepted definition within the
field of its common use, in this case economics and banking, where the
widely agreed time period for specifying 'inflation' in percent is one year.

A Sunspot
 

Cecil Moore wrote:
...when I was born, gold was worth
$27 an ounce. As of today, T1, I haven' died yet and gold
is worth $880 an ounce. According to my TI-34 that's
3259.25925925925925925925925925925 percent.

You should read up on significant digits instead of manufacturing false
precision.

A Sunspot
 

On Sep 27, 12:56*pm, Cecil Moore wrote:
gwatts wrote:
Cecil Moore wrote:
I didn't say per year.

No, you didn't say 'per' anything.

If no time is specified, it is the change between then
(T0) and now (T1). At T0, when I was born, gold was worth
$27 an ounce. As of today, T1, I haven' died yet and gold
is worth $880 an ounce. According to my TI-34 that's
3259.25925925925925925925925925925 percent.
--
73, Cecil *http://www.w5dxp.com
"According to the general theory of relativity,
space without ether is unthinkable." Albert Einstein

I don't believe that to b e strictly true. When we were on the gold
standard it was kept pretty level.
When we went off the gold standard gold shot up over night but I do
not believe the price of gold
has shot shot up a lot since then. I suspect copper was a better deal
at least up to a few days ago

A Sunspot
 

Cecil Moore wrote:
John Smith wrote:
How much value will the dollar lose?

I suspect if they were all still in silver certificates,
you might not be in all that bad of shape.

Silver is difficult to purchase at this point ...

A few days ago, there was not an oz. to be had, which anyone wished to
part with ... indeed, a friend of mine in the markets claims the middle
east has sucked up great quantities, and quietly, recently ...

Regards,
JS

A Sunspot
 

Ralph Mowery wrote:

...
Unless it is for the collector value, the silver certificates have not been
backed by silver for a very long time. Not sure of the date, but probably
20 or 30 years or more ago.



I have 281 of these in a small safe, I was not aware of that ... I will
have to look at that, got a link/URL?

I just took it for granted you could trust the govt. on such a serious
promissory note ("Silver IOU"), broken promises do not instill trust and
respect. I suppose the gold notes are just as worthless then?

But then, for some reason, such is not as shocking as it would have been
a few decades ago ... :-(

Regards,
JS

A Sunspot
 

"Cecil Moore" wrote in message
...
John Smith wrote:
How much value will the dollar lose?

I suspect if they were all still in silver certificates,
you might not be in all that bad of shape.
--
73, Cecil http://www.w5dxp.com
"According to the general theory of relativity,
space without ether is unthinkable." Albert Einstein

Unless it is for the collector value, the silver certificates have not been
backed by silver for a very long time. Not sure of the date, but probably
20 or 30 years or more ago.

A Sunspot
 

Cecil Moore wrote:
John Smith wrote:
How much value will the dollar lose?

I suspect if they were all still in silver certificates,
you might not be in all that bad of shape.

How do you suspect that when a $1 silver certificates was exchangeable
for $1 worth of silver?

Unless you did the exchange a REALLY long time ago, the transaction
is break even.


--
Jim Pennino

Remove .spam.sux to reply.

A Sunspot
 

A Sunspot
 

John Smith wrote:
wrote:
Cecil Moore wrote:
...


How do you suspect that when a $1 silver certificates was exchangeable
for $1 worth of silver?

Unless you did the exchange a REALLY long time ago, the transaction
is break even.



I think he was simply pointing out that something still backs the
"worth" of a "silver certificate" (well, if it still existed, in reality.)

Since our currently issued dollar has nothing behind it than our
production, possibility of producing, and labor ... and with a
frightening amount of that having "gone over seas", it is virtually
worthless ...

However, no one realizes this, well, seems to realize this.

Or, to summarize this:

The dollar is worthless and only those who have replaced these with real
objects/matter of value have any real wealth.

Indeed, money has become a religion, only those who can make a leap of
faith as to it having real worth are believers ... at least here in the USA.

Regards,
JS

The "worth" of any medium of exchange is whatever the "worth" is
perceived to be, whether it be cash, checks, certificates of deposit,
stock certificates, money orders, bonds, gold bars, silver bars, or
shiny beads.

About the only medium of exchange that had any intrinsic value was salt.

The "value" of real objects is also whatever it is perceived to be; I
don't think my house is worth $500,000, but the housing market does.

Look up supply and demand and then tell me why diamonds are so "valuable"
and why no one is paid in salt anymore.

None of this is unique to the US, it is the way the economy works in
the modern world.


--
Jim Pennino

Remove .spam.sux to reply.