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View Full Version : Martin A Armstrong and Black Friday's 162$ gold in 1869.




fatjohn
05-14-2010, 08:40 AM
Hey,

I'm just beginning to learn about Martin Armstrong. He believes in cycles and even claims that the CIA went after him for having a supercomputer model that could foresee major events to the day from years ahead.

Anyway he also talks sometimes about how the black friday in 1869 sparked his interest in gold and markets. Appearantly gold traded at 162$ back then. Anyone knows how much that would be inflation adjusted? Anyone knows how much the Dow was back then?

SooperDave
05-14-2010, 10:04 AM
he makes a brilliant point that gold is a hedge against the mismanagement of the state. I never thought of it this way but since the dollar has no intrinsic value and only has value to the extent you are confident in the state's ability to stabilize its value, this makes logical sense.

fatjohn
05-14-2010, 10:59 AM
Appearantly that 162 would now be 2580 dollars. Surprisingly low if you ask me. But still higher then the so called inflation adjusted price of the 1980, 850 bucks high. Which corresponds to 2185 bucks today.

Interesting story however that black friday. Never heard about an attempt to corner the gold market before...

http://www.nytimes.com/learning/general/onthisday/harp/1016.html

ctiger2
05-14-2010, 11:02 AM
http://www.martinarmstrong.org/economic_projections.htm

tmosley
05-14-2010, 11:24 AM
162 Greenbacks (ie fiat currency issued to pay for the Civil War), maybe.

The US went back on the gold standard shortly thereafter.