Article Image

IPFS News Link • Currencies

Since Inception, The Euro Has Devalued 85% Against Gold

• https://www.zerohedge.com by Jan Nieuwenhuijs

The first gold price recorded in 1999 was €7,879 euros per Kg - or €7.88 euros per gram (we'll use euros per gram as the gold price in the remainder of this article). By now, the gold price has crossed €51 euros per gram. A new all-time high.

Over the course of 20 years, the price of gold in euros has increased by 555%. From a historic perspective the euro is a young currency, but already lost 85% of its value against gold. This reveals the instability of fiat money.

To evaluate by how much the euro has devalued against gold, it must be measured in gold terms (because a currency can't devalue by more than 100%). In 1999 it took 0.13 gram to buy one euro; today only 0.02 gram. The result is that the euro lost 85% of its value versus gold. In the chart below you can see the euro's descent versus gold since 1999. 


www.universityofreason.com/a/29887/KWADzukm