> Gold holds it's value in a remarkable manner over time. You will find, for example, that a fine tailored men's suit has cost about one ounce of gold for hundreds of years.
Can you provide a citation for this?
Wouldn't you find the same thing to be true of other types of resource/materials that had no correlation to the manufacturer of suits - that their monetary value moves in the same direction, likely due to the overall level of inflation in the economy?
Over long time scales the relative value of things can change a lot.
Salt and Grains have both lost a lot of their relative value over time. Diamonds are actually worth far more now than they were in the past. Gold has maintained it's value fairly in Europe for a long time, but it was not worth all that much in south America. Unfortunately, for the gold bugs out there gold’s relative value often changes rapidly in the short time frame.
Can you provide a citation for this?
Wouldn't you find the same thing to be true of other types of resource/materials that had no correlation to the manufacturer of suits - that their monetary value moves in the same direction, likely due to the overall level of inflation in the economy?