Joe The Bad on Nostr: Just ran the numbers on this again. With today’s gold price of $5072/oz you now ...

Just ran the numbers on this again. With today’s gold price of $5072/oz you now have to make $188.92/hr to make 1971 minimum wage

quoting
nevent1q…528v

On August 15 1971 (the day the dollar was decoupled from gold) gold was $43/oz and federal minimum wage was $1.60/hr.

At that time, a 40 hour work week making minimum wage came out to $64 or 1.49oz of gold.

Today with gold at $3698.58/oz, to earn 1.49oz of gold ($5510.88) for a 40 hour work week you need to make $92.46/hr.

Today a 40 work week at federal minimum wage ($7.25/hr) gets you $290 or .08oz of gold.

I’m not a gold bug, I just like to run these numbers sometimes 🤷‍♂️