Economics, business, history: the USD in 1970 vs today
Self-tutoring about economics and business since 1970: the tutor looks at the changing value of the US dollar.
In 1970, maybe not everyone could buy gold for US $35 per ounce, but central banks could.
Today, gold is worth US $1922.10 per ounce, or about 55x$35.
Therefore, the surface argument could be made that the USD is 1/55, or about 2% of its 1970 value.
What do you believe?
Source:
Jack of Oracle Tutoring by Jack and Diane, Campbell River, BC.
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