Mike,
To be honest, I am merely quoting an expert quoted in Barron's, and
carried in the Daily Yomiui here in Japan. I have no expertise in
commodities, though the silver/housing ratio certainly caught my eye.
To this layman, though, the salient point not mentioned in the
article is that 1980 corresponds with the attempted silver corner of
the Hunt brothers. So it could be that choosing that year creates a
false impression about the relative values.
I have no money tied up in commodities so it is all academic to me; I
posted the info. because some device makers need silver for practical
reasons and might want to know. . . .
JBB
On Wednesday, Mar 10, 2004, at 21:03 Asia/Tokyo, M. G. Devour wrote:
Jon quoted the following:
In 1980 you could buy the average family house for 1,500 oz. of
silver.
Today it would take 40,000 oz. of silver.
Can you formulate the same kind of statement using gold? It would be
interesting to compare.
If silver's still around 7 bucks an ounce, that says that the "average"
house would be about 280 grand. That's outta my league, but sounds
about right. <grin>
Gold is around 400 right now. That would mean 700 oz of gold would buy
a 280000 house. So, what was the spot price of gold back in 1980?
Be well,
Mike D.
[Mike Devour, Citizen, Patriot, Libertarian]
[mdev...@eskimo.com ]
[Speaking only for myself... ]
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