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Today, SPX in gold terms at March ’09 lowsI’ve done this analysis before in the past and while most people look at the stock market strictly in nominal terms, I still believe it’s always important to have perspective in terms of its value in other currencies. With the move lower in gold (another currency) today to a two week low and the S&P’s around 1235 after yesterday’s selloff, the S&P 500 priced in gold terms is at the exact same level seen on March 6, 2009 when the SPX cash hit 666 intraday. Then, one ounce of gold bought 1.41 times the SPX and today it does as well. Money printing and the debasement of fiat currencies can cover up many ills and make things look better than they really are in terms of purchasing power.
Interesante también este artículo de como quedan los precios de las cosas en onzas de oro:http://qmunty.com/blog/2011/02/04/¿como-quedan-los-precios-de-las-cosas-en-onzas-oro-mas-baratos/
Cita de: Atanor en Diciembre 10, 2011, 14:30:39 pmInteresante también este artículo de como quedan los precios de las cosas en onzas de oro:http://qmunty.com/blog/2011/02/04/¿como-quedan-los-precios-de-las-cosas-en-onzas-oro-mas-baratos/Gracias, Atanor, el artículo es muy bueno. Particularmente sorprendente es la evolución del precio de las materias primas en oro (muy baratas).
Cita de: Currobena en Diciembre 11, 2011, 00:52:45 amCita de: Atanor en Diciembre 10, 2011, 14:30:39 pmInteresante también este artículo de como quedan los precios de las cosas en onzas de oro:http://qmunty.com/blog/2011/02/04/¿como-quedan-los-precios-de-las-cosas-en-onzas-oro-mas-baratos/Gracias, Atanor, el artículo es muy bueno. Particularmente sorprendente es la evolución del precio de las materias primas en oro (muy baratas).Sí, el artículo es muy bueno. Sobre las otras materias primas, y en general bienes tangibles, más adelante habrá que mover capital oro en ellas. Aún queda tiempo para ello. Hay que esperar a lo per de la crisis.
Today the world’s gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce – gold’s price as I write this – its value would be $9.6 trillion. Call this cube pile A.Let’s now create a pile B costing an equal amount. For that, we could buy all U.S. cropland (400 million acres with output of about $200 billion annually), plus 16 Exxon Mobils (the world’s most profitable company, one earning more than $40 billion annually). After these purchases, we would have about $1 trillion left over for walking-around money (no sense feeling strapped after this buying binge). Can you imagine an investor with $9.6 trillion selecting pile A over pile B?Beyond the staggering valuation given the existing stock of gold, current prices make today’s annual production of gold command about $160 billion. Buyers – whether jewelry and industrial users, frightened individuals, or speculators – must continually absorb this additional supply to merely maintain an equilibrium at present prices.A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops – and will continue to produce that valuable bounty, whatever the currency may be. Exxon Mobil will probably have delivered trillions of dollars in dividends to its owners and will also hold assets worth many more trillions (and, remember, you get 16 Exxons). The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond.Admittedly, when people a century from now are fearful, it’s likely many will still rush to gold. I’m confident, however, that the $9.6 trillion current valuation of pile A will compound over the century at a rate far inferior to that achieved by pile B.
¿Puede ser por esto la brutal subida de los precios de la tierra de cultivo en muchas partes del mundo?