Is This Really Possible? Maybe someone can explain it to me.
I would be most grateful:
“Story of a Gold Coin” by Hugo Price (The Third Richest Man in Mexico)
I would be most grateful:
“Story of a Gold Coin” by Hugo Price (The Third Richest Man in Mexico)
It seems mind boggling to me.
Yes it is correct what he has written.
Try to understand “Gold is monetary metal”. Price of gold increases with depreciation of exchange rate of any country. He is talking about Mexico from 1972 to today.
Well In 1933 US had gold priced at $20 USD/oz. Today in free market its $1250/oz. That is the effect of USD debasing fro 1933.
In India in 1963 gold price was Rs.165/oz with exchange rate of Rs 8 per USD then. Today it is RS. 85000/oz with exchange rate s 70 per USD.
He has explained how to value gold price in currency with gold content in a gold coin.
In those countries if people held paper money of say 1,000,000 RS it will be worth lot less. But gold coins worth of Rs 1,000,000 then held until now be worth : you do the calculation.
Thanks Bikoo. Absolutely astounding.
Today the official U.S. Government Price for Gold is Only $42.22/oz
EU marks to market, so Europe reflects current price.
Great stuff ….Thanks Music Man and Thanks Hugo Price
Not to pour cold water on all this but one could likely find similar results if one would have bought 10 dow shares in Mexican Pesos in 1972.
Actually any Mexican who converted pesos to dollars in 1972 and held those dollars would be happy today
Add in the price of Gold going from $32 to $1200 and the guy who bought Gold with pesos…would be….well…the 3rd richest man in Mexico
🙂
10 Dow Shares????
Except one or two of them others are all bankrupt and do not exist. Make up of index keeps changing. Even the original Dow stock GE is off the index.
Gold is peace of mind without trading an invaluable !!. Stocks are wall of worry. We can find many who are still holding gold from 1962 today (my self included). But i do not think one can find any one who is holding Eastman Kodak a Dow stock from 1972.
LOL!!!
“10 Dow Shares????”…Yep, paper certificates that are now just electronic digits… one big giant illusion of wealth thanks to the skillful management of all our perceptions by the promoters of debt based money!
What one should look at is not Peso per gold but units of purchasing power for gold. Who cares how many pesos it takes.
I was in High School during the time he speaks of in 1972. I recall pulling up to the pump and filling up for 24 cents a gallon so the price level has increased by 10X since then. That’s not an outlier… just the other day I passed a Motel 6 advertising $59.95 , well guess what back in 1972 they called it Motel 6 because it was $6/night…. 10X from today.
What has the government done to our money?
I think the point being gold will be always there to protect. Just look at Brexit gold spike up – GBP down.. No it’s not different this time.