How does the gold supply being about ~4x greater than 1933 affect this calculation? Assuming ~1.5% gold supply increase per year.
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Fair question! The amount of above-ground gold per person has stayed between ~25-30oz since around 1500AD.
A more qualitative answer: From my understanding, throughout history, give or take, an ounce of gold could get you a nice suit, and an ounce of silver could get you a good steak dinner. The latter isn’t quite as true today since the gold/silver price ratio is so historically high, since silver isn’t used as a medium of exchange anymore.
All that to say that unlike bitcoin-priced wages, gold-priced wages decreasing so quickly is historically unusual.