#DanielNadem

Back in 2000, having a million dollars in gold meant owning about 3,500 ounces. Fast forward to today, and that same pile of gold is worth roughly 15.7 million dollars. If you had put that million into the S&P 500 instead, you would only have around 4.7 million dollars right now. It is wild to think a simple rock with no innovation outperformed the best engine of American capitalism by over three times. This does not mean companies stopped being productive. It actually shows that the paper currency we use to measure everything is just slowly melting away over time.