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Comment: Re:Technological progress vs monetary policy (Score 2) 126

by rrhal (#38060726) Attached to: Intel's 4004 Microprocessor Turns 40

So the value of dollar went down by over factor of 5 since 1971.

In 1971 the US Dollar was pegged to gold at $35 per Oz Its ~$1700 today. I don't remember exactly when during the Nixon administraion the US decoupled the dollar from gold but I think it was after the election in 1972. At any rate an oz of gold would about buy a 4004 in 1971 and a ~3.5GHz 6-core Xeon today.

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