Here’s how to check for sure
There’s a cool website which has just come out called http://worthingold.com/
With inflation going crazy right about now — with worse in store — it is a calculator which has historic gold prices programmed in — so you can compare transactions such as house sales et al against the gold standard.
This is actually hugely insightful to understand the TRUE value of things as with house prices going up, energy prices going up, football transfer fees going up, it’s easy to get lost in the eye-watering numbers to the point of meaninglessness. But having a consistent baseline to track against shows us the reality of the loss of purchasing power (and stealing of wealth, under our noses) that has taken place.
Here’s an example. Let’s say there’s a house bought for £300k 5 years ago. Right now, with the property ‘boom’ they’re getting offers of £400k+ for it today. Not bad, eh? £100k in just 5 years, nice little earner etc. Would you cash in? Many may be tempted.
But now let’s apply the gold calculation. 300k in 2016 was worth 332 gold oz, but 400k today? 316 gold oz. Boom — you’ve actually LOST 16 gold oz of value — which at todays prices is around £20k. You’d actually be making a loss on the property.
