R/T airfare between Las Vegas and Madrid, including all taxes, meals and luggage, --currently costs less than 12 grams of gold. I would submit that either gold is headed for a near-term significant correction, or inflation is set to explode upward within 60 days. The jury is still out on which will occur, but I think it's safe to say the current relationship between gold and the cost of nearly everything sans healthcare, is significantly out of whack.
I wouldn't be so sure that gold is so terribly out of whack with prices. When I first got hired 10 years ago, my monthly take home salary amounted to about two ounces of gold. Today, after "raises" and inflation, my take home pay is approximately 1.7 ounces of gold. In other words, I've had a real reduction in income over 10 years. Sad!
Just bought 2 round trip tickets to Vegas from Denver for the Nascar race. Not very far. $220 a piece. I could go to Mexico city RT for cheaper.
Agree. Domestic air travel is a rip-off and the service couldn't be worse. If foreign carriers were allowed to compete, that would all change overnight.
In 2015, two ounces of gold equated to $2100-2800. At the moment, it equates to about $5800. Unless your entire income goes toward gold, eggs, or politicians, I submit that you're still ahead of the game.
I don't know. This presumption of equivalency/causality seems specious (at best) in my opinion. I believe this gold spike is more market hype psychology than a reliable prediction of true 'value'.
Gold has gone from $2000 to $2900 over the past year. If this really meant that the dollar had lost 31% of its purchasing power over the past year, I'd expect prices in general to have gone up about the same amount. I'm not seeing it. It's almost as if gold, eggs, houses, cars, medicines and so on were different goods with prices that varied somewhat independently.
So, what if the last audit of Fort Knox was gold is 1200 an ounce. What happens when Fort Knox's gold gets revaluated at 6000. Just a ?. What happens to other currency's, and how does the market respond?
Not likely when London has publicly announced delivery delays and trouble borrowing gold from the bank of England to satisfy delivery notices for COMEX customers while reports are coming in from China, Korea and other parts of the globe that retail markets are selling out of physical gold. USA investors - as indicated by ETF demand - appear to be just now waking up to the gold bull and buying (they were selling throughout 2024).
Just got back from Denver and its deep polar zone of -8 degrees...LOL, thats actually not that bad, what airline did you go with ?
Not sure where you were, we were 53 two days ago. But 2 days before that it was close to your feet freezing to the ground. Flying United on some new style airbus.
we were in littleton for most of the trip made it up to Denver and did the aquarium which was really cool in more ways then one...LOL
