Perhaps you missed my point & maybe I did not make my point as well as I could have.  This writer picked one of the worst possible commodities to show the loss of purchasing power over this extended period.  He picked a bushel of wheat which went from $1. to $12.  To me, that shows how efficient farmers have become.  I don't think you can find many things that have only gone up 12X over this period.  The reality is everyone knows because a house has gone from $1,000. say to $500,000. is not because it is worth that much more.  Everyone is aware it reflects inflation.  Now if we extend a little further the reason the writer did not turn to the real estate page & mention the cost of land or housing in 1896 is because it would clearly illustrate gold was a very poor cousin to protect yourself against inflation & weaken his case for gold.  History shows gold has had some great bull mkts. but gold has had extended flat to down cycles as well.  IMO gold will be a poor performer compared to other investments over a 100 year period because there is no income.  We are currently in a bull mkt. & that is the right time to be in gold.

Regards

Joltin