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Gold for House? (lemmy.ca)

submitted 5 months ago by [email protected] to c/[email protected]

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It's all about the money supply. The devalued our money so workers think they were making more to avoid a communist revolution.

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[–] [email protected] 9 points 5 months ago (1 children)

For anyone wondering, the current gold price is:

59.790,42 EUR/kg or 64.898,53 USD/kg

So this post is fact checked. You can buy a good house for 648.985,30 USD.

[–] bahbah23 5 points 5 months ago (1 children)

How much was it worth in 1920? I'm struggling to find that info online...

[–] [email protected] 15 points 5 months ago* (last edited 5 months ago) (1 children)

1kg = 32.1507 troy ounces

So ten kilo of gold in 1920 would be worth $6648.76 with the average home being around $6300

Of note and why the above comparison is meaningless

A two-tiered pricing system was created in 1968, and the market price for gold has been free to fluctuate

[–] EmpathicVagrant 1 points 4 months ago

Per inflation calculator that places average homes at about 20 of these in 2023.