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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum

What Would Happen To Silver & Gold Prices If The US Government Defaulted?

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TimNH
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 Posted 05/05/2024  12:46 am  Show Profile   Bookmark this reply Add TimNH to your friends list Get a Link to this Reply

Quote:
Back in the 1990's I sold four $10 Eagles and bought a Breitling watch for $800. Today I could buy the same watch for $4000 by selling four $10 Eagles. Since the end of Bretton Woods in the early 1970's, $40 worth of gold Eagles are now valued at $4000 - yet 50 years later the watch is still worth four gold Eagles. That's what I'm calling a continuous default.


This is a great personal example. The one I read is that in ancient Rome one ounce of gold (roughly) could buy a fine men's suit. Nowadays, gold at 2K .. yeah, roughly one fine men's suit. Gold doesn't change, the currencies sure do though.
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Brandmeister
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 Posted 05/05/2024  10:26 am  Show Profile   Check Brandmeister's eBay Listings Bookmark this reply Add Brandmeister to your friends list Get a Link to this Reply
But think about what would have happened if you had bought an ounce of gold worth of the S&P500 in Ancient Rome!



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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum



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