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I think this is important enough to publish a short post in relation to those who raise false assertions that gold consistently represents value over time using the purchase of a suit as an example , contrary to these unqualified assertions a suit cost nearly 6 ounces of gold back in 1864, where we could of purchased almost 10 suits for 1 ounce of gold at its all-time high in 2011.
As you will see below, calculating for the 2011 all-time high (as well) demonstrates an even more pronounced mis-representation of historic prices by 57-fold.
Original Source : mike montagne founder of PEOPLE For Mathematically Perfected Economy™, original (1968) architect of mathematically perfected economy™, and principal author of the global amendment for mathematically perfected economy and absolute consensual representation™(C) Copyright 2014 by mike montagne and PFMPE™.
To be further informed about the adverse dispositions of a gold standard see my other blog post ” Why a gold standard cant work “