Uruguay consumer prices climbed 0.66% during March totalling 3.59% in the first quarter of the year and 8.54% in the last twelve months, according to a Wednesday release from the National Stats Office, INE. Read full article
Sure we all know how inflation hits our wallets but can some bright economist please tell me how it is calculated anywhere?
Four decades ago gold was priced at U$D32 per troy ounce. Today its around U$D1600 . In other words it has multiplied by a factor of 50. I havent worked that out as a yearly percentage but its a lot. Is it just governments printing money or what?
It is nigh on impossible to calculate the increase in the true value of gold.
This is because gold is seen as the 'true value' object throughout millennia. So you could say USD 1600 IS the value of gold at that time. What this means of course is that your money invested in gold should never diminish below what was paid for it.
I held a considerable amount of money in GB Sovereigns (no VAT) and in a nine month period between 2009 and 2010 made (after dealers margins for buying them and selling them) made 29.9% profit.
My wife was very unhappy when I put some of our money into gold and even more unhappy that I had not put even more in when she saw how it was going. It did help with the loss of revenue due to the cnut Brown et al however, it was at the time that everything was loss making. I have never ‘made’ so much on the (fully paid costs) margin with any other investment.
But it is all put into perspective when you look at the drop in value of fully refurbished five bed roomed houses in a sought after area such as the one we left to come to Uruguay.
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Disclaimer & comment rulesSure we all know how inflation hits our wallets but can some bright economist please tell me how it is calculated anywhere?
Apr 04th, 2013 - 02:31 pm - Link - Report abuse 0Four decades ago gold was priced at U$D32 per troy ounce. Today its around U$D1600 . In other words it has multiplied by a factor of 50. I havent worked that out as a yearly percentage but its a lot. Is it just governments printing money or what?
@1
Apr 06th, 2013 - 03:41 pm - Link - Report abuse 0It is nigh on impossible to calculate the increase in the true value of gold.
This is because gold is seen as the 'true value' object throughout millennia. So you could say USD 1600 IS the value of gold at that time. What this means of course is that your money invested in gold should never diminish below what was paid for it.
I held a considerable amount of money in GB Sovereigns (no VAT) and in a nine month period between 2009 and 2010 made (after dealers margins for buying them and selling them) made 29.9% profit.
My wife was very unhappy when I put some of our money into gold and even more unhappy that I had not put even more in when she saw how it was going. It did help with the loss of revenue due to the cnut Brown et al however, it was at the time that everything was loss making. I have never ‘made’ so much on the (fully paid costs) margin with any other investment.
But it is all put into perspective when you look at the drop in value of fully refurbished five bed roomed houses in a sought after area such as the one we left to come to Uruguay.
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