It's all about the money supply. The devalued our money so workers think they were making more to avoid a communist revolution.
I'll stick with Bitcoin
this post was submitted on 28 Jan 2024
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I mean, this is like saying "$10,000,000 would buy you a house in 1910, and $10,000,000 would buy you a house in 2023"
It would take a lot more gold to buy you a house in 2023 than it would have in 1923
If you look below, the comments did the math; Same amount of gold.
The main issue is that gold isn't directly used as currency, so this post is really saying "if you bought something worth a house, it is worth a house. Isn't that weird?"
For most of history prior to the 20th century, 10kg of gold would have bought you quite a fancy house. It would be about 140,000 roman Denarii, or roughly 120x the wage of a legionary.
For anyone wondering, the current gold price is:
59.790,42 EUR/kg or 64.898,53 USD/kg
So this post is fact checked. You can buy a good house for 648.985,30 USD.
How much was it worth in 1920? I'm struggling to find that info online...
https://nma.org/wp-content/uploads/2016/09/historic_gold_prices_1833_pres.pdf
1kg = 32.1507 troy ounces
So ten kilo of gold in 1920 would be worth $6648.76 with the average home being around $6300
Of note and why the above comparison is meaningless
A two-tiered pricing system was created in 1968, and the market price for gold has been free to fluctuate