One ounce gold coin for a handmade suit, correct?

[MrApplewine]

Or, maybe the industrial revolution has made people's time worth a lot more to not spend it making things by hand. The comparison has been distorted some due to the industrial revolution as well.

[onassi]

@johanazmanshah coins are better because they are more liquid (ie. easier to sell). only get bars if you are investing a giant amount of cash, and even then, you may still want some coins. and buy silver because it will outperform gold, since there is less silver available above ground than gold at the moment.

[johanazmanshah]

Hi Mike, I have a question. which is better, coins or bar (silver and gold)?

[123ableTHERollyboy]

I know a website that offers a secret code that produces 90% success ratio on gold trading. Go check them out, just google Gold Trading Academy and make as much money as you want.

[UnitedKorean]

This guy must be wearing a handmade suit, belt and shoes himself. Paid by his 5 oz gold coin.

[jamesspeculator]

Gold is radically overvalued.

[GoldMikeMaloney]

Fundamentally you are incorrect. Those who continue to hold paper currencies like dollars, euros, yen, pounds, pesos, etc will be on the losing side of the coming wealth transfer. You have the choice to lose your wealth or gain in wealth. Get physical investment grade silver and gold bullion before it is too late.

[jamesspeculator]

@GoldMikeMaloney

The probability of gold outperforming income producing real estate over the next 100 years is 0.000%.

They both have cap rate/earnings yields of over 6%. So gold needs to go up by over 6% a year just to match the income stream. Forget about the fact that rent and earnings historically beat inflation while gold only matches it.

In the event of a complete currency collapse, while gold shorts will lose, gold will still radically underperform stocks and real estate.

[jamesspeculator]

@jamesspeculator

"They both have "

should read

Both stocks and real estate

[yaakovda]

The value of gold relative to other commodities, is at any time derived ultimately from the amount of man hours required to produce both of them.

Since we had advancements in both our gold extraction methods, and at suit production, it doesn't make sense to compare the value of a machine-aided-extracted ounce of gold, to that of an handmade suit.

To get a real answer, you'll have to estimate the man hours required for both tasks, now and then, and see whether they fit.

[NautHumonTV]

This is a very cool way to put it.

[VoteLib3rty]

Well here we are in 2011 and I'd be happy to provide anyone that is interested a hand made toga, rope belt and sandals for an ounce of gold. Get back to me back to me if you need the hookup.

[1thatisilluminated]

WRONG! In Honk Kong you can get two suits made for that price and shoes, belt and a dinner!

[kbgoldrocks]

Buy gold and silver. Get paid. Contact me for more information.

[TheShadowShow00]

Hahaha.. This dude is tripping.. I get my suits custom made in Thailand for $300.00 us dollars.. Great quality too.. Don't believe the HYPE!!

[BMWg84]

Where are you buying your shoes??

[lextalionis2001]

I purchased a handmade suit in Shanghai in 2008 for about a thousand dollars. Picked out the fabric, had 2 fittings and it was mailed to me after that. No belt or shoes however :)

[EndTheResistance]

@lextalionis2001 Enjoy your dodgy suit. Where is the cotton made? Is it hand woven? Is it premium quality? Is the lining pure silk? I suggest no and no and no. You got ripped off BRO!

[lextalionis2001]

@EndTheResistance troll

[EndTheResistance]

@lextalionis2001 Troll? Haha. That's the pot calling the kettle black.

How long have you been a halios worshiper?

[MultiTUFTUF]

Not correct.

Go to China or India. Full hand made clothes will you about $100.

[quadcatfly]

@MultiTUFTUF aman. just depends on where you buy it.

[TheTrueJBV3737]

this guy is so right! And that is just 1 of many many facts. Another fact is that Banks are selling gold and silver they do not have, the banks have 1 ozt of gold, they make 50-100 certificates that own that exact piece of gold and throw it into a "Pool" and sell all the certificates. When people realize this and request physical, gold price will temporally go above 100k oz before the dollar completely collapses. silver will reach 10k oz. no kiddin. look up facts, theres lots of facts.

[Hazanoff]

As far as I know great handmade shoes with belt will cost max 1,000-1,500 $,but the cost of the suit varies a lot...a very good handmade suit would cost something from 1,000 up to even 25,000 $ or EVEN more.

[bodhisattva99]

wow... glad you straightened THAT conundrum! NO WAY!!! I suppose it depends on who makes the suit and what it is made out of... and the shoes... and the belt... and I guess it depends on who's making it and where you're buying it... no?

[darkoman84]

Also the gold is not gaining its value from now. Its happening since 9/11

[gingowitch]

this guys a genius

[daPerik]

In acient time, all whas hand made, no machines back then ;-)

[lillelynet86]

@daPerik hahha so true.

[rogertayloRRR]

@daPerik good 1

[johnywinslow]

new colt revolver was 25 silver dollars, today A new ruger black (modernized copy of colt) is approx 500.00.. by the way 25 american silver eagles (solver dollar) will cost you about $500.00 US ! prices do not go up. your money is going down!

[OzClawhammer]

I looooove this video

[DNATS]

Maybe I am wrong, but everything was hand made back in the days ;) so their value is different than today "hand made".

[LCABOU]

i am in italy and you can make a hand made suit for man with an amazing fashion tailor for exactly 1100 dollars

what do you have to say

[inkey2]

to LCABOU: yes, but......what about the hand made shoes and belt.....that would be at least another 300 dollars

[bullenchris18]

i like all your videos , they make me think, an get me to act ,great work ,do you think there something we sould be looking for about the dollar? get back to me bullenchris18

[smalden]

He said he's predicting gold will be valued well over $10,000 an ounce 'in today's dollars'. Does that mean in future dollars it would actually seem MUCH higher?

[vaidas7777]

Wow, right now gold goes down to 1096 bucks. I hope Mike is not irritated by clients calls...

[branman055]

that going down is just a minor retracement , now is a time to buy more gold, this is called cost averaging. In the long run when you got your gold stack of about 50oz or more then your making big bucks when gold goes to $5000-$10,000/oz. Keep stackin

[DillonX]

Nowadays tungsten can be easily gold plated & sold to suckers as gold & there is a great deal of that going around.

If you wanna buy gold...fine...BUT HAVE IT TESTED!

[jhanders]

ridiculous - just stick with the best hallmarks from respected dealerships - it's that simple. just don't buy cheap unknown bars or rounds - if you play it cheap you could get burned

[dmgoddard]

Awesome video to shake up my sound-money, liberty-oriented friends who have NOT yet protected their wealth!!

Shared on Facebook and posted to my blog

freestateblogs(net)net

[bearcat648]

I'm sorry, this was the only weak vid I have ever seen by Mike.  Yeah, gold holds value, but it goes in cycles like any other commodity. People are tying themselves into knots to make that whole new suit analogy fit.

Gold will attain enormous value because it may become the next world reserve currency in one form or another.

[misformarty]

this guy is retarded

[vinny1010]

How is that?

[misformarty]

If shit hits the fan, and doom floods the world, i bet you that a gold coin will still buy you a handmade toga, belt, and slippers. Now 2 or 3 pieces of gold, that's a different story.

[misformarty]

Furthermore, its likes like saying that back in the 'old days' a 1oz of gold can buy you a horse and carriage. But then comparing it to a car and arguing that gold undervalued.

[frankknopers]

If you dont like this comparison you can look at the value of housing and stock markets compared to gold over time.

Gold is very stable overall when it coms to purchasing power. Because of market trends and speculation it gets over or undervalued from time to time but it will always have a certain intrinsic value.

[4rcane]

mike, are you rich? You seem out of touch with how much it cost to hand-make a suit/belt/shoes. No way it cost $10k.

[bluehorse888]

decent hand made suit = 5k

high end designer belt = $600

hand made italian leatehr shoes = $1500

he's not too far off

[4rcane]

nope, look like you picked high end designer type prices. Only the rich ppl go for those prices. At most maybe $1.5k

[Exposethefrauds]

A handmade suit, belt, and shoes will cost about 8k. Im a tailor, i know. This guy is absolutely right.

[inkey2]

to Exposethefrauds: "Eight Thousand" ? for a hand made suit, belt and shoes? I am no expert on suits but that seems a bit much (unless you are Paul McCartney or Donald Trump)......

[TonyRush]

Inkey, have you ever priced a handmade suit? I can't imagine that a quality handmade suit could be purchased for less than $2,000. A great many are sold every day for far more.

I don't know what a handmade belt would cost.

Handmade shoes? EASILY more than $2k per pair. Easily. Look up "bespoke shoes" sometime and find out what's involved.

I don't know if the whole thing would be $8k. but I can easily see it being $6k+

[johnywinslow]

@Exposethefrauds silver is the same way. new colt revolver cost 25.00 back in 1889 today a new ruger revolver( MODRNINZED COLT COPY) IS APPROX 500.00 what is the same 25 american silver dollars worth today? approx 500.00 . prices dont go up our money has been going down!

[JohnLeeMD]

@Exposethefrauds But he's wrong in the sense that a "handmade" suit in those days didn't carry the same premium that it would today--since everything in those days was hand made. I think you could make more appropriate comparisons (comparisons, BTW, that I love to see as I am someone who believes in what he says) with other products (e.g. groceries).

[Rationalific]

@JohnLeeMD I agree with you. Although I also believe that gold is tremendously undervalued, it's hard to compare something handmade today with something in the old days. And especially togas - very loose cloths that don't need to be as precisely measured and cut as a suit of today - are not a good comparison. I guess the best way to tell the future is still by looking at inflation just over the past 100 years or so.

[vdubs4life1964]

I need to learn to make homemade shoes and clothing... pronto!

[snslion]

Gold and silver bullion. The perfect Christmas gift that will appreciate in value.

[drutter]

I agree with your conclusion, but your argument is shit.

a) A belt today costs $1000? Wow... try $40 for a nice leather belt. Maybe you could spend $100 if you bought at the most expensive store in town.

b) You should be comparing to a toga and sandals, not suit and leather shoes. The whole point of the comparison is that it buys the same thing now as it did then. If you upgrade to a fancy hand made suit of COURSE it'll cost more than the toga and sandals did.

Really flawed.

But buy gold :D

[Eraser7622]

Wow Drutter.. I can honestly say I'm surprised at your comment. I watched the vid AFTER reading the comments this time for some reason and I expected Mike to say some really nutty stuff based on what you said, as I often value your opinion. I think Mike made a fine comparison, albeit a bit exaggerative on the price of a handmade belt and shoes. The point was still solid which he clarified in the beginning that the point was to fully clothe a man in handmade garments, not just togas.

[drutter]

Well Eraser7622, I believe the whole point in comparing two things in differnet times against the value of an ounce of gold in those times, is in comparing the SAME thing. For example, some have said before, you could buy a loaf of bread in 1900 for a silver dime, and you still can today. But this video effectively says that you can't buy a high quality hand-made turkey dinner for a silver dime today. You have to compare the same things in order to show value is retained over time. :)

[Eraser7622]

I follow what you're saying Drutter, but remember that the time period which is being used as the basis for the comparison was a time where most citizens rarely held an ounce of disposable gold currency. So, those who held such wealth would have been purchasing the high end wares from master tradesmen that came with such wealth. The commoners would have held silver and the like and thus purchased a lesser quality attire. Who is his argument incorrect or do you reject my scenario?

[drutter]

Eraser7622 - I'm afraid I don't follow you. It's true that most people had an ounce of gold to spend "back then", but that's also true today. In any case, it doesn't matter if anyone had an ounce of gold to spend or not.

The whole point of the scenario is to point out that X amount of precious metal will always have about the same amount of purchasing power.

[Eraser7622]

Fair enough, I won't belabor the point but I can not understand how it is not entirely rational to compare a professional wardrobe from two periods against a fixed amount of gold. I would wonder what else one might compare to better match your expectations here.. a cow? a bushel of corn? Again, I'm a fan of your work, but just don't see your point here I guess. Oh well.. I'll still watch any silver porn you have to offer :) Take care.

[drutter]

Eraser7622 - Good point, I wonder what WOULD be a better thing to compare? But I do think it does need to be the same thing, to see if the purchasing power of the metal is retained over time.

I guess you could compare a keg of beer. You can probably get a large keg for 1/10th oz gold no matter what century it is.

A bad example might be "a cup of ice". Back then, they would have to send an expedition up a mountain. Now, you can get it free at any fast food outlet.

We agree - silver is sexy. :D

[drutter]

Then why try and use a toga for the comparison? Why not use something that can be found in both times, so the comparison actually means something?

[donniebrasco24]

you cant find viable comparisons aside from food and clothing. Im sure there were many expensive (fine) togas back in the day, after all julius caesar wore one...anyway the whole point is gold retains its purchasing power, dont get too critical over the point. chilax dude, haha

[rentonsentinel]

Good point... you certainly couldn't get one for $250 back in 1999 or whatever. We are coming off of a period of extreme undervalue.

[seekerofgod7777777]

There was NOTHING But Handmade clothes in those days, so the comparison is flawed.

[linux23dragon2008]

True. Most people just say one gold ounce buys a suit back in the old days and that same gold ounce still buys you a suit today.

They don't mention if it is hand made or not.

[linux23dragon2008]

Actually. I should say "custom" hand made suit vs a Chinese massed produced suit.

[seekerofgod7777777]

I try not be one of those pretentious cretins who just look for vids that they can nit pick apart.

He did end the vid by implying that 1 OZ would EVENTUALLY get you a Comparably nice set of clothes.

I have to watch myself when viewing vids like these and not be a knee jerk Jerk. the second someone starts knocking The Value of Gold I usually click em off, and that would have been a mistake this time.

[clarkcolt45]

in the 80's you could buy a hand made suit for one ounce... lol

[seekerofgod7777777]

An "Ounce" or a "Lid" Heh heh

[TheHolySpirit]

@clarkcolt45 You might not want to wear it though because being from the 80's it would almost certainly look dreadful! :)