{"id":44804,"date":"2023-01-30T23:42:03","date_gmt":"2023-01-30T23:42:03","guid":{"rendered":"https:\/\/www.oracletutoring.ca\/blog\/?p=44804"},"modified":"2023-01-30T23:42:05","modified_gmt":"2023-01-30T23:42:05","slug":"economics-business-history-the-usd-in-1970-vs-today","status":"publish","type":"post","link":"https:\/\/www.oracletutoring.ca\/blog\/economics-business-history-the-usd-in-1970-vs-today\/","title":{"rendered":"Economics, business, history: the USD in 1970 vs today"},"content":{"rendered":"\n<h2>Self-tutoring about economics and business since 1970: the tutor looks at the changing value of the US dollar.<\/h2>\n<p>\nIn 1970, maybe not everyone could buy gold for US $35 per ounce, but central banks could.<\/p>\n<p>Today, gold is worth US $1922.10 per ounce, or about 55x$35.<\/p>\n<p>Therefore, the surface argument could be made that the USD is 1\/55, or about 2% of its 1970 value.<\/p>\n<p>What do you believe?<\/p>\n<p>Source:<\/p>\n<p><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/09\/gold-standard.asp#:~:text=In%20August%201971%2C%20Nixon%20severed,its%20formal%20connection%20to%20gold.\">investopedia.com<\/a><\/p>\nJack of <a href=\"https:\/\/www.oracletutoring.ca\">Oracle Tutoring by Jack and Diane,<\/a> Campbell River, BC.\n\n\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"more-link\" href=\"https:\/\/www.oracletutoring.ca\/blog\/economics-business-history-the-usd-in-1970-vs-today\/\"> <span class=\"screen-reader-text\">Economics, business, history: the USD in 1970 vs today<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[371,372,2209],"tags":[],"class_list":["post-44804","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","category-history"],"_links":{"self":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/44804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/comments?post=44804"}],"version-history":[{"count":3,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/44804\/revisions"}],"predecessor-version":[{"id":44807,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/44804\/revisions\/44807"}],"wp:attachment":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/media?parent=44804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/categories?post=44804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/tags?post=44804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}