MrMakabar@slrpnk.net to Ukraine@sopuli.xyzEnglish · edit-23 months agoRussian wealth fund down to $53.236 billioninterfax.comexternal-linkmessage-square26fedilinkarrow-up196arrow-down11file-text
arrow-up195arrow-down1external-linkRussian wealth fund down to $53.236 billioninterfax.comMrMakabar@slrpnk.net to Ukraine@sopuli.xyzEnglish · edit-23 months agomessage-square26fedilinkfile-text
To be clear it is not hold in $, but in RMB, gold and rubel. Before the war in held $174billion, so a massive decrease.
minus-squaretallinkfedilinkEnglisharrow-up3arrow-down1·edit-23 months agoI mean, that depends. In nominal, dollar terms, yes. https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart But I’m not sure how meaningful that is. Like, is there real-world significance to having a high unit price in dollars? Gold hit $2,741.03/oz in January 1980. And it’s at $2,503.38/oz in August 2024. Those numbers are close in nominal terms. But to equal that 1980 peak, which was in 1980 dollars, in real terms in 2024 dollars, gold would need to be at… https://www.usinflationcalculator.com/ About $10,463.15/oz in 2024. And it’s a pretty long way from that today. In January 1934, it hit $834.02/oz. To match that in real terms in 2024, it’d need to be at about $17,258.73/oz.
minus-squareNateNate60@lemmy.worldlinkfedilinkarrow-up8·3 months agoI don’t want to embarrass you, but uncheck the “inflation-adjusted” box in your first graph and recalculate.
I mean, that depends.
In nominal, dollar terms, yes.
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
But I’m not sure how meaningful that is. Like, is there real-world significance to having a high unit price in dollars?
Gold hit $2,741.03/oz in January 1980.
And it’s at $2,503.38/oz in August 2024.
Those numbers are close in nominal terms.
But to equal that 1980 peak, which was in 1980 dollars, in real terms in 2024 dollars, gold would need to be at…
https://www.usinflationcalculator.com/
About $10,463.15/oz in 2024. And it’s a pretty long way from that today.
In January 1934, it hit $834.02/oz.
To match that in real terms in 2024, it’d need to be at about $17,258.73/oz.
I don’t want to embarrass you, but uncheck the “inflation-adjusted” box in your first graph and recalculate.
Ooops!