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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (66837)	7/25/2006 5:10:17 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Where am i ducking the issue ? This is what i wrote: "And your observation that gold lost tremendous purchasing power since 1980 is correct. An Ounce of gold probably lost 90% of purchasing power between the top in 1980 and 1999." Thousand ounces of gold could have bought 10 decent single family homes in winter of 1980. In 2000, not more than 1 (roughly and depending on location) I agreed with you, gold was not a store of value in 80's and 90's ! Having said that, taking a timeframe from 1970($50) to now ($630) the picture is a little bit different.