We are saved..Gold set to double in price!

[GoldDiggerDave]

Turned the TV on today, my freeview channel diverts to the Jewellery channel.   This made me choke on my Christmas cake with laughter. 

 

Edited December 30, 2021 by GoldDiggerDave
re uploaded video

[GoldDiggerDave]

If gold doubles in price in the next 12 months that’s going to be a nightmare………not for anyone on TSF sunshine!!! 

[Arcadian]

That link just comes up as: We could not locate the item you are trying to view.

[SilverStorm]

I certainly hope gold does NOT double in price!  If it did, I would be priced out of the market.  Still need gold prices to be semi-affordable, as I haven't finished stacking yet!  🤪

[Pete]

Gold may double in price mathematically by way of a simple example -

A Christmas pudding from Tescos today costs £5
A gram of gold today costs £43
So you can buy 8 puddings and expect some change swapping a gram of fine gold.

If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.

Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.

To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.

[GoldDiggerDave]

@Pete I've seen a few gold to product ratios before but never gold to tesco Christmas pudding ratio it as new one on me but you might be on to something.  

 I'd have no problem having 16-17% interest rates, as then you could at least get 10% interest rate on your Leeds Liquid Gold savings account.  

 

[LawrenceChard]

3 hours ago, GoldDiggerDave said:

Turned the TV on today, my freeview channel diverts to the Jewellery channel.   This made me choke on my Christmas cake with laughter. 

IMG_3589.MOV

 

3 hours ago, Arcadian said:

That link just comes up as: We could not locate the item you are trying to view.

Looks like you need to check and re-post the original link @GoldDiggerDave

😎

[GoldDiggerDave]

3 minutes ago, LawrenceChard said:

 

Looks like you need to check and re-post the original link @GoldDiggerDave

😎

cheers

[Oddjob]

Can get sound but no vision.

[JasonDavies]

9 hours ago, Pete said:

Gold may double in price mathematically by way of a simple example -

A Christmas pudding from Tescos today costs £5
A gram of gold today costs £43
So you can buy 8 puddings and expect some change swapping a gram of fine gold.

If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.

Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.

To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.

Gold has been around forever.

The Christmas pudding originated around the 14th century.

But Tescos started sometime just after the first world war.

So, I imagine that the Gold to Tescos Christmas pudding ratio has only been with us for about 100 years.

 

However, Woolworths started in 1879 and in some countries the Woolworths Matured Christmas Pudding is still available.

I think that as the Gold to Woolworths Christmas pudding ratio has more history to it then it may be a more reliable indicator.