EC Il | w1891 - 9/10/2015 21:43
From the numbers I have seen, in 1975 oil was around $11.50 per barrel and comex gold was around $160 an ounce.
I stand corrected by w1891 and others. Begging forgiveness?! Please allow me to try this again in ounces then grams. One ounce of gold in 1975 purchased 13.91 barrels of oil. One ounce of gold today purchases 24.6. The funny thing is that people are paying well over spot for single grams on ebay.
http://www.ebay.com/itm/PAMP-Suisse-1-Gram-9999-Gold-Bar-New-Sealed...
Those grams are selling for more than one barrel of oil, thus my 31 barrel per ounce analogy. I wonder if people are becoming a bit disenchanted with our fiat currency? Thanks again for the correction guys and gals. I really muffed the 1975 numbers!
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Any gold bugs here?
