/biz/ - Business & Finance

The average wage of a maidservant in the 15th century was 1 ounce of gold per year.
Today, at a minimum wage of $7.25, that would be $15,000. That's the price of one year of unskilled labor. The value of unskilled labor never really changes, i.e. the pecentage of what a person with an average income paid for having his hair cut is stable since millenia, because there's nothing to be automated.
Since the value of labor didn't change, but one ounce of gold isn't worth $15k, that must mean there's either much more gold today per person, or that it's heavily undervalued.
Today, there's less than 25g of gold per person in existence, or less than one ounce.
In the 15th century, there was estimated to be around 500 million people on earth, and about 13000 tons of gold mined since ancient times. Or about 26g per person.

So my prediction would be that the god price will increase 1500%, as soon as people lose trust in fiat money. I hope you stacked up anon.

Gold boy here, silver seemed very off putting due to huge sales tax in my country, gold doesn't have that problem. Will gold be mooning too or did I miss the train?

>>17861330
Wait for what? Stock is already sold out. There's nothing left to buy.

So this chart claims the Mint sold 2 million some Silver Eagles and completely decimated the stock that the Mint had.