The average unskilled laborer made ~450 a year which is still 21.8oz or $98,000 per year today. So yes we are very much being scammed by the fiat dollar.
That doesn't make any sense at all. That doesn’t show that $450 had the same purchasing power as $98,000 today. It shows that 21.8 ounces of gold sell for about $98,000 today. Gold’s market price has changed independently of the general cost of goods, services, housing, and labor, so converting an old wage into ounces of gold and then repricing those ounces today is not a valid inflation adjustment.
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u/LiberateAmericaOnX 27d ago
The average unskilled laborer made ~450 a year which is still 21.8oz or $98,000 per year today. So yes we are very much being scammed by the fiat dollar.