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<p>[QUOTE="Gam3rBlake, post: 5279385, member: 115909"]$2000 now is worth more than it was in the past but yeah historically the actual labor cost of gold has risen dramatically.</p><p><br /></p><p>Today assuming someone works 40 hours a week or 160 hours per month @ $20 an hour. That’s $3200 per month before taxes. Maybe $3000 net take home pay. That’s being generous I think. It’s probably even less.</p><p><br /></p><p>At gold prices of ~$1800/ozt currently that means that person could only buy a little bit over 1.5 troy oz of gold per month worked.</p><p><br /></p><p>In 1922 the average worker made about $0.75/hour or $37 per week or $148 per month.</p><p><br /></p><p>Well back then a $20 Double Eagle was roughly 1 troy oz of gold. So $148 / $20 Double Eagles is about 7 Double Eagles so about 7 troy oz of gold per month worked. With $8 left but we’ll assume that makes up for the Double Eagles not being quite 1 troy oz of gold.</p><p><br /></p><p>Crazy how much inflation hurts. I fear it will get worse if the government starts spending all kinds of money on things we can’t afford and just pays for it by printing more money and weakening the dollar.</p><p><br /></p><p>[ATTACH=full]1221016[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 5279385, member: 115909"]$2000 now is worth more than it was in the past but yeah historically the actual labor cost of gold has risen dramatically. Today assuming someone works 40 hours a week or 160 hours per month @ $20 an hour. That’s $3200 per month before taxes. Maybe $3000 net take home pay. That’s being generous I think. It’s probably even less. At gold prices of ~$1800/ozt currently that means that person could only buy a little bit over 1.5 troy oz of gold per month worked. In 1922 the average worker made about $0.75/hour or $37 per week or $148 per month. Well back then a $20 Double Eagle was roughly 1 troy oz of gold. So $148 / $20 Double Eagles is about 7 Double Eagles so about 7 troy oz of gold per month worked. With $8 left but we’ll assume that makes up for the Double Eagles not being quite 1 troy oz of gold. Crazy how much inflation hurts. I fear it will get worse if the government starts spending all kinds of money on things we can’t afford and just pays for it by printing more money and weakening the dollar. [ATTACH=full]1221016[/ATTACH][/QUOTE]
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