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“Can you eat gold? No. You can eat and barter Spam”

Nouriel Roubini, economist, Dec 14 2011

I do note that bread may actually have been a better investment than Gold as well. In 1980 the average cost of a generic loaf in Victoria was $0.54 – today this price can be as high as $4.50. Gold on the other hand is about $200 higher than its 1980 peak.



  1. “Gold on the other hand is about $200 higher than its 1980 peak”
    Gold in 1980 was around $840.
    Today is around $1600. It’s $800 higher – NOT $200.

  2. ‘..Gold on the other hand is about $200 higher than its 1980 peak..’ ??

    typo ?

  3. You can’t eat currency either, but you can swap it for (every diminishing) amounts of spam. Aaah, the throw away lines of Nouriel the rock-n-roll economist 😉

  4. Nope – no typo I used Comex gold which is back adjusted so you can see long term trends within markets.

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