Gold for house

This isn’t actually true. In the US, housing has outpaced the value of gold.

In 2023, you would need 254.7 ounces of gold to buy a house, since $495,100 avg home / $1,943 price of gold = 254.7

In 1920, you would need 164.1 ounces of gold to buy a house, since $3,395 avg home / $20.67 price of gold = 164.1.

This post feels like it's sponsored by the World Gold Council to encourage people to buy gold.

If you had of invested the equivalent amount of money in the Dow Jones index instead of purchasing 10kg of gold and kept it invested from 1920-2024 you would have ~$15 million.

Me when I post misinformation online: 😈

I'm in Canada. 25 years ago my parents bought a home for $130k, they sold it 15 years ago for $500k, it's now listed for $1.1 million. We are so fucked.

I feel like one of these is off by a 0

Oh look the gold bugs are back

Ignores that common folk can neither buy at spot nor sell at spot.

10 kg gold Dec. 2023 = ~$727,591 = $2062.92 * 10 * 35.27 oz/kilo

10 kg gold June 1920 = ~$105,810 = ~$300 * 10 * 35.27 oz/kilo

seems much higher than the respective housing cost for an average home in both cases

price ref

In 1920, the average price of gold per troy ounce was $20.68USD[26.2 kB pdf]; 1 Kilogram = 32.15075 Troy ounces. Average house price in the 1920's was $6,296.

$20.68 USD * 32.15075 oz t = $664.87751 USD * 10 = $6648.7751 USD

In 2023, the average price of gold per oz t was $1,940.54 and the average home price was $495,100.

$1,940.54 USD * 32.15075 oz t = $62,389.81641 USD * 10 = $623,898.1641 USD

This meme is credible, excepting errors in my assumption that 1 kilogram of gold is equivalent to 1 kilogram of common material.

Memes from the alternate universe where we still use the gold standard

They'd actually also be very likely to get you targeted by thieves as well. Even if you tried to keep quiet about them, there would be an entire chain of custody which would be required inform when such a large quantity of gold bullion where sold or bought, as well as their transportation and the transportation's insurance, if you don't get scammed in the process.

wood for sheep?

I almost missed this.

I'll just quote myself from my last game where I had a monopoly on the sheep...

YOU DARE COME TO THE MASTER SHEPHERD WITHOUT A TITHE IN HAND?

I'll trade my RuneScape account for one.

Seems like a lousy investment.

So what you're saying is I should invest in gold because it increases in price at the same rate as housing?

So I never actually make any progress? And then in the end I just have a bunch of gold? Why wouldn't I just buy the house then?

Let's be real, hordeing physical gold is just something elderly people do because of scam advertisements they see on cable TV.

monetarist cope

Gold has no intrinsic value to me I wonder if as the boomers start to die off if it will start losing some form of value