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BSOSCBlog.com • View topic - How To Set Barter Value: Inflation Calculator

How To Set Barter Value: Inflation Calculator

How To Set Barter Value: Inflation Calculator

Postby jpf1030 » Tue Mar 02, 2010 4:59 pm

Howdy All,

Dewey sent the following inflation info and calculator to me. This can be a helpful tool to you in valuing your wares for an alternative economy in that it enables you to know what any valuable preparedness item is worth in today's dollars. For example, if you have an anvil that you know was priced new in 1920 at $25, you could easily run it through the inflation calculator to see what those 25 dollars in 1920 are worth in 2010 dollars. That would give you a baseline to work from in determining a value range in today's dollars. Or you could most likely price your item at the 1920 price in pre-'65 silver coins and get as much or more for your anvil as pricing it in 2010 dollars via the inflation calculator. Either way, you can see how the inflation calculator can be a very helpful tool as you prepare, so thanks again to Dewey for sending.

Happy Preparedness Trails,

Jim

Here is the info Dewey sent:
*****************************************************************************************************************************
http://www.dollartimes.com/calculators/inflation.htm

$1.00 in 1925 had about the same buying power as $12.48 in 2010. Annual inflation over this period was about 3.01%.

$0.25 in 1925 had about the same buying power as $3.12 in 2010. Annual inflation over this period was about 3.01%.

A dollar just ain't what is used to be. Our inflation calculator will tell you the relative buying power of a dollar in the United States between any two years from 1914-2009. It will also calculate the rate of inflation during the time period you choose. We determine the value of a dollar using the Consumer Price Index from December of the previous year. All calculations are approximate.

Fun fact: In 2007, the inflation rate was about 4.08%. This was higher than any year since 1990! In 2008, the inflation rate was 0.09%, the lowest rate since 1954! Consumer prices in the US peaked in July of 2008, and by January of 2009, prices had actually declined by about 4%.

Put this calculator on your site:

http://www.dollartimes.com/calculators/inflation.htm
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Re: How To Set Barter Value: Inflation Calculator

Postby terence7 » Mon Mar 15, 2010 7:03 pm

Jim,

I like these inflation calculators and use them, sometimes, when trying to
get a point across in an article. However, there is a danger in calculating values
through the prism of a disintegrating metric: The dollar.

For example, I propose people do the opposite of price items in dollars as
a technique to payoff their mortgages in silver:
http://www.youroptimal.com/blog/2009/11 ... rt-1-of-2/

Also, dollar inflation calculators had no practical use in Zimbabwe by the
time a barter economy became the only way to trade.

Perhaps a better method would be to find the dollar price of the anvil, in your example,
at a time when dollars were still tied to gold and use the resulting number of ounces (Or grams).
I found a good starting point to possibly construct a gold inflation calculator here:

http://www.measuringworth.org/gold/#

Terence
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JPF reply to TG...How To Set Barter Value: Inflation Calcula

Postby jpf1030 » Mon Mar 15, 2010 11:24 pm

Howdy Terence,
We totally agree with your point on basing purchasing value for our ICE system on previously metal backed US currency This is why we are developing the ICE valuation database on historical pricing from ancient times through 1964, the last year of US minted 90% silver coins. The purchasing value of real money never having really changed over our entire multi-millennial period study for commodities gives us a baseline valuation system for commodities in today's US dollars or any other currency priced in gold and silver. Once this valuation system guide is finished, it gives a valid, objective barter pricing guide for anyone's goods, services or commodities. The valuation system in turn provides the basis for a barter exchange system, which finally generates a foundation upon which to build a local credit clearing system based upon producers being able to create credits recognized in the exchange system of the local economy...jpf
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Re: How To Set Barter Value: Inflation Calculator

Postby terence7 » Tue Mar 16, 2010 6:10 am

Well said, Jim. I need to learn more about your 'valuation system guide' by clicking
around the forum.

For the first 6000 years of human history it was a great thing that precious
metal based money purchased roughly the same amount of goods and services.

However, with the stupendous increase in division of labor and productivity in the
last 150 years the same proverbial '1 ounce of gold that used to purchase a man's suit' SHOULD now
purchase 50 men's suits. Of course, it's the theft of paper money inflation that masks the
true increase of what gold (And silver) should NOW purchase. In other words, a constant mild deflation is
the natural result of mankind's progress.

The whole Credit Clearing House notion is thrilling to think about. Both the mathematics
and the notion of exchanging value among honorable men and women recalls the
spirit of our founding fathers in such a direct way.

Terence
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Re: How To Set Barter Value: Inflation Calculator

Postby jpf1030 » Tue Mar 16, 2010 3:09 pm

Howdy Terence,
Your reference to the old axiom of 1 oz. gold buying one nice man's suit thousands of years ago still holds true for the most part. Likewise, a gallon of gas for a silver US quarter in 1964 can still be purchased for that same 1964 quarter. I remember from that period bread going on sale for a dime a loaf. Bread today on sale can still be bought for that 1964 dime.

Our Task Force #7-ICE co-leader, Greg Dahl, ordered a 1964 Sears catalog along with other older misc. catalogs which we will be using for developing our valuation system database. It will probably be a month before that compilation is complete and we can get it posted. We are understaffed in volunteer leadership positions in BSOSC and overloaded with projects underway, so progress is just slow and steady until we see more membership growth...jpf
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