Copper is being stockpiled by China, which short-term appears to have driven the price too high on purely industrial demand grounds. I think it is another way by which China is dumping dollars.
Finally getting to grips with with looking at things from the perspective of gold rather than currencies. It's not as easy as I thought, such is the advanced state of my indoctrination.
I decided to start looking at things like property prices and salaries in terms of gold rather than GBP.
It turns out that a particular house we purchased in 1991 that shows an 8 fold increase to date in GBP but actually hasn't moved in terms of ounces of gold. And my 37k salary in 2004 should now be 303k in order for it to purchase the same amount of gold.
I then created a table of US GDP in USD against US GDP in gold ounces. It actually shows that between 2007 and 2012 in dollar terms a slight rise from 14.5Tn to 16.2Tn, whereas, expressed in gold it more than halved.
I was wondering if this kind of illustration in some of your posts & interviews might help get the message across about the distortion of truth and devastation of living standards being meted out by this politically driven central bank abuse of the monetary system.
Richard - Bit of a " Bum Clenching Moment " when you finally crunch the numbers , as you have - and then fully realise just how much we've all been so right royally ' Stiffed ' over such a prolonged period in history .... quite un-settling ( & enraging ) actually .
It puts the increasing wealth divide into stark relief. It's basically theft and will take a revolution to fix and that's a long way off. I'm pretty enraged too.
I did something similar to you a while ago but used statistics of the average lunch price in restaurants and its development since 1980. The result is not as distinct as yours. In 1980 I would have been able to get 5 lunches for a gram of gold. Today I would get 6.7. During the nineties I would have gotten 1-2 depending on year.
I would like to know more about copper, I feel like copper is the big sleeper here. It is so important. It has risen, but it’s the one that’s going to be short. There is no more production of it. I just would like to know more about copper.
Mike
Copper is being stockpiled by China, which short-term appears to have driven the price too high on purely industrial demand grounds. I think it is another way by which China is dumping dollars.
Richard — I've done similar excercises in the past and can confirm your observations!
Thanks Craig
Finally getting to grips with with looking at things from the perspective of gold rather than currencies. It's not as easy as I thought, such is the advanced state of my indoctrination.
I decided to start looking at things like property prices and salaries in terms of gold rather than GBP.
It turns out that a particular house we purchased in 1991 that shows an 8 fold increase to date in GBP but actually hasn't moved in terms of ounces of gold. And my 37k salary in 2004 should now be 303k in order for it to purchase the same amount of gold.
I then created a table of US GDP in USD against US GDP in gold ounces. It actually shows that between 2007 and 2012 in dollar terms a slight rise from 14.5Tn to 16.2Tn, whereas, expressed in gold it more than halved.
I was wondering if this kind of illustration in some of your posts & interviews might help get the message across about the distortion of truth and devastation of living standards being meted out by this politically driven central bank abuse of the monetary system.
Richard - Bit of a " Bum Clenching Moment " when you finally crunch the numbers , as you have - and then fully realise just how much we've all been so right royally ' Stiffed ' over such a prolonged period in history .... quite un-settling ( & enraging ) actually .
It puts the increasing wealth divide into stark relief. It's basically theft and will take a revolution to fix and that's a long way off. I'm pretty enraged too.
I did something similar to you a while ago but used statistics of the average lunch price in restaurants and its development since 1980. The result is not as distinct as yours. In 1980 I would have been able to get 5 lunches for a gram of gold. Today I would get 6.7. During the nineties I would have gotten 1-2 depending on year.
Thanks Erik - my GBP calculations also reflect the demise of the GBP USD exchange rate from over $2 to the £ to $1.24 since 1980
Ok, my calculation was for the Swedish krona.
I would like to know more about copper, I feel like copper is the big sleeper here. It is so important. It has risen, but it’s the one that’s going to be short. There is no more production of it. I just would like to know more about copper.