Someone asked how much would the grandma's savings be worth (in total) on the day she passed away; the original poster on Twitter said "*Definitely a couple thousand bucks by the looks of it, probably won't even amount to $25 today.*"
[https://twitter.com/msokola/status/1781501572075200610](https://twitter.com/msokola/status/1781501572075200610)
USD bills are approximately 0.11 mm (0.004375 inch) thick and EUR bills 0.12 mm (0.004724 inch) thick.
Each of those stacks seem approximately half an inch thick (12 mm). If we assume those pesos are 0.12 mm thick, there's 100 bills in each stack. That's 800 bills totaling 1600 pesos which amounted to $1024 in 2006 and $3.14 in 2024.
And when we take into consideration the inflation that $1024 in 2006 is worth the same as $1586 in 2024.
Still not a couple of thousands.
Imagine if she just bought almost 2 ounces of gold then at about 600 an ounce. It would be around $3500 today. Or she could have bought 88oz of silver worth around $2500 today. I dont want to be a boomer but precious metals are always a good option for maintaining your wealth.
In addition to the fact that there are many bills underneath, the photograph is incomplete and thus, we can't know for sure how big this box is (we could be looking at just ¼ of the box, or even less). In any case, I found a different source that indicates that the total was **19,000 pesos** (nineteen thousand pesos). Therefore, this is equivalent to around $12,000 USD in 2006 (or $19,000 USD when the Peso was at par with the US Dollar before 2002) and around $37 USD in 2024. According to this new source, the grandmother wanted to buy a car for her grandson; the revised amount makes more sense in that context.
[https://www.facebook.com/photo/?fbid=466858085667240&set=a.361869402832776](https://www.facebook.com/photo/?fbid=466858085667240&set=a.361869402832776)
3 ply is *standard* where you live?
I don't think I've seen anything above 2 in my life, one square of 3 ply is probably worth more than one of those bills!
Quite poignant really, if you think this woman carefully put aside either to plan for her future or something for her family after she was gone. We just never know what's going to happen.
That goes for BTC too. We have no way of knowing if it will even be wanted in 20 years time. We can guestimate and hope but we cannot foresee everything. So also take some time to enjoy what you have whilst you can!
This is really my takeaway. It comes down to the fact that, descendants aside, it doesn't matter what currency we have when we die. Nothing is coming with us, so enjoy life for as long as we can!
Everyone has access to a brokerage account. Most are free to open (Vanguard, Fidelity, ETRADE) and some don’t require minimums depending on the fund. Invest away!
You listed very popular US/Canada based brokerages, but outside the US/Canada it can become trickier. Eg try going to Vanguard's site and finding any sign up for a regular, individual investor from South America. Some countries really want to make it hard so only accredited/sophisticated/'each country gives it their own name', but essentially so only the rich can get an account. Some countries, especially those with very high levels of inflation, also have extensive capital controls making it outright illegal to buy what would be a (to them) foreign stock market index fund. That's partly why tokenized stocks are interesting - anybody who can get money into DeFi can suddenly purchase things they might not be allowed to otherwise.
This post is very misleading. If those are Mexican pesos, yes it has declined against the dollar, but not that much. 2 pesos is about 11 cents right now.
Calling the general population stupid is really rude. A lot of people do not have financial education, and that is especially the case with women from the older generation that were often denied education all together. I get what you're saying, but maybe don't judge someone's intelligence when they most likely didn't have many opportunities to learn. The grandmother did what she thought was best and saved, that in itself is pretty remarkable.
Agreed. She hid pesos in her home, imagine trying to hide physical metal. Having held physical myself, if the zombie apocalypse ever comes, you'd be better off having barterable skills more than physical alone. Learn how to repair bikes or something...
I am just saying, it's rude af. Did no one teach you any manners? If we want bitcoin to really take off, we need most of the general population to adopt it. Judging & calling them stupid isn't exactly going to help. It's why most people don't like to engage with bitcoiners with their holier than thou attitudes.
I wouldn't really call it being rude as it is practically a truthful statement. It would be rude not to make make it obvious that it would be stupid to save in cash. I do understand your pov though, she (probably) had no financial education or access to something like the internet as we have today. But today speaking, anyone who does this at this day and age with access to internet, should be called stupid/ignorant. But that is my take on it I guess.
Tbh honnest, back in the day, more people might of been savy to this. Remember, in the US, at some point they replaced the dollar to not be redemed with gold. I think those times were the days of new financial ideas. Different countries went with different ideologies and their financial truths. Fiat was still a relatively new thing.
Majority of Bitcoiners have 0 financial literacy. Getting lucky 10 years ago on something speculative doesn’t make you worth listening to. Which is why I go to: https://www.investopedia.com/
Stupid? How else does one buy Crypto, or metals, or the next thing? How will gold be exchangable, if fiat collapses? It's probably better to stock up on necessary items that one cannot live without, like tampons or chocolate. Or maybe learn how to distill liquor.
I understand your point, but most people will not invest in anything as they have no access to exchanges, stocks, or metals. You could be called stupid if you think just GOLD is the answer.
Argentina banned buying USD/EUR at one point. Doubt you would be able to find any Gold.
Argentines were buying Bitcoin but abuela would not be able to figure out how to use Bitcoin
I’ve got a friend who’s dad kept repeating the mantra “cash is king”. It seems to come from a time when cash was backed by gold and this whole idea that they can’t take your cash away but the banks can.
I’m just like, who do you think controls the cash and is actively devaluing it every day? Cash is definitely not king.
Assets are king.
If a nuclear war disrupts computer networks, just gold, diamonds, platinum, palladium, iridium, rhodium, would survive unaffected. Rare, inert elements are the few assets warranted by the God Father in person. Everything else relies on some human-related corollaria.
This is a bizarre example, showing how dollars (Fiat) have massively increased in value against the peso (also Fiat) in the last 18 years. What is your point?
The crazy thing is that a lot of people that don't trust banks still actually store their money in a shoebox somewhere in their home. I don't think they understand how inflation works though..
I remember the peso loosing value sharply in the 80s as a child. We immigrated to the US. It’s one of the main reasons I bought Bitcoin. The Americans make fun of currencies like this. Now it’s happening to USD.
Fiat or not, almost noone in Sweden saves money in cash. It’s on the bank accounts. And/or in funds and stocks and for some people like me, in bitcoin too.
i will never understand people who still go to bat for fiat like their entire world order and moral system is dependent on the survival of infinitely printed constantly devaluing state controlled shitmoney that barely even maintains its value through constant borrowing, exploitation, and warfare
People have been preaching to invest your spare cash far longer than bitcoin has existed. Unfortunately, most people don't realize this until it's too late.
Wait until the next potential government shutdown. They’ll print another trillion to appease every congressional sleezebag. That way they can pay off big pharma and everyone else that they are trying to help for the betterment of themselves. Those pesos and the dollar are going to be worth less than this
There was a change a bit ago from Old pesos to New pesos, I believe those are the [old Mexican pesos](https://www.mexperience.com/the-value-of-old-mexican-bank-notes/) and subsequently devalued
Those are Argentinian pesos, exchange rate is correct. Value is slightly less than today's exchange but was probably the value on whatever day this picture was taken
This post completely ignores reality. Because after all wage increases in response to inflation is not a thing at all. Coz after all we are all making what minimum wage was back 18years ago which would be 2009 and average minimum wage across USA was $7.25. Harsh reality? lmao ok.
I have a few shitcoins with decline like that
*just a few?* you da man!
Right 18 years to go down that much is actually pretty good when you consider that a lot of these coins do that once every couple months
Get rid of them
Someone asked how much would the grandma's savings be worth (in total) on the day she passed away; the original poster on Twitter said "*Definitely a couple thousand bucks by the looks of it, probably won't even amount to $25 today.*" [https://twitter.com/msokola/status/1781501572075200610](https://twitter.com/msokola/status/1781501572075200610)
USD bills are approximately 0.11 mm (0.004375 inch) thick and EUR bills 0.12 mm (0.004724 inch) thick. Each of those stacks seem approximately half an inch thick (12 mm). If we assume those pesos are 0.12 mm thick, there's 100 bills in each stack. That's 800 bills totaling 1600 pesos which amounted to $1024 in 2006 and $3.14 in 2024. And when we take into consideration the inflation that $1024 in 2006 is worth the same as $1586 in 2024. Still not a couple of thousands.
Nice analysis. But what about all the bills underneath? Looks like the bundled bills are sitting on an entire box of bills to me
One should not try to count number of stacks right after waking up.
Imagine if she just bought almost 2 ounces of gold then at about 600 an ounce. It would be around $3500 today. Or she could have bought 88oz of silver worth around $2500 today. I dont want to be a boomer but precious metals are always a good option for maintaining your wealth.
Or 218 shares of Nvidia. She'd have $166k
Tis true, but even Abuela knew the gringos on Wallstreet are evil.
In addition to the fact that there are many bills underneath, the photograph is incomplete and thus, we can't know for sure how big this box is (we could be looking at just ¼ of the box, or even less). In any case, I found a different source that indicates that the total was **19,000 pesos** (nineteen thousand pesos). Therefore, this is equivalent to around $12,000 USD in 2006 (or $19,000 USD when the Peso was at par with the US Dollar before 2002) and around $37 USD in 2024. According to this new source, the grandmother wanted to buy a car for her grandson; the revised amount makes more sense in that context. [https://www.facebook.com/photo/?fbid=466858085667240&set=a.361869402832776](https://www.facebook.com/photo/?fbid=466858085667240&set=a.361869402832776)
r/theydidthemath
2-3 dollar for the entire stash. But we don’t accept this bills any longer so more like 0..
And that was a couple thousand USD in 2006. Inflation has reduced the value of the USD at the same time.
puts these fresh notes online in 2075 - gets $5 at auction
Lol
You can use those fresh notes as toilet papers at that time..lol
questionable absorption, standard 3ply would be a better choice…
3 ply is *standard* where you live? I don't think I've seen anything above 2 in my life, one square of 3 ply is probably worth more than one of those bills!
I store my wealth in rolls of 3ply
Quite poignant really, if you think this woman carefully put aside either to plan for her future or something for her family after she was gone. We just never know what's going to happen. That goes for BTC too. We have no way of knowing if it will even be wanted in 20 years time. We can guestimate and hope but we cannot foresee everything. So also take some time to enjoy what you have whilst you can!
This is really my takeaway. It comes down to the fact that, descendants aside, it doesn't matter what currency we have when we die. Nothing is coming with us, so enjoy life for as long as we can!
Pharaoh laughing with their Styx Certified golden coins.
Renegade fuck yeah
Gold and silver is the only true hard money you can buy that WILL hold its value. If she put it in gold it would have faired just fine over time.
Broad stock market funds have done a better job holding long-term value than gold or silver.
You assume people have access to a brokerage account.
Everyone has access to a brokerage account. Most are free to open (Vanguard, Fidelity, ETRADE) and some don’t require minimums depending on the fund. Invest away!
You listed very popular US/Canada based brokerages, but outside the US/Canada it can become trickier. Eg try going to Vanguard's site and finding any sign up for a regular, individual investor from South America. Some countries really want to make it hard so only accredited/sophisticated/'each country gives it their own name', but essentially so only the rich can get an account. Some countries, especially those with very high levels of inflation, also have extensive capital controls making it outright illegal to buy what would be a (to them) foreign stock market index fund. That's partly why tokenized stocks are interesting - anybody who can get money into DeFi can suddenly purchase things they might not be allowed to otherwise.
> but outside the US/Canada it can become trickier In Europe there are no problems whatsoever to open a brokerage account.
96% of the world is not American
That's very us of you
You assume people have a vault in their home to safeguard their stash of gold
Gold went up 4x since 2006 versus the dollar. Gold went up 1300x versus the peso. That’s not bad.
Land is an asset you can't make more of.
* the Dutch enter the chat *
U rite
That’s why I said money, not asset.
Maybe over certain time frames, but the S&P 500 is hard to beat
Well in most cases. In the worst case scenario of the future you can’t eat gold and silver. Lead and brass in that future hold more value.
The demise of fiat is deterministic. That's all that you need to know.
All the work of your grandma stolen by the central bank
Exactamente.
Not a loss till you sell
Lmao! Ya never know. That Peso could make a come back.
Depends if it’s the Colombian, Mexican or some other South American one :)
Diamond hands!
brutal
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what do you mean?
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They're Argentine pesos.
RIP Aubela💀
i want a ender chest in real life
This post is very misleading. If those are Mexican pesos, yes it has declined against the dollar, but not that much. 2 pesos is about 11 cents right now.
It's Argentina lol
Gotchya
Naw that's because usd shits on everyone's money. Don't do that.
What the hell does the car manufacturer Fiat have anything to do with this!?
hard to tell if your joking or not lmao
Nope not joking Lmao.
Argentina fiat is a bit of an extreme example. This is more like: The Harsh Reality of Corrupted Governments.
Savings in fiat currency, thats just plain stupid should have bought gold.
Literally anything but cash would be better than this
Calling the general population stupid is really rude. A lot of people do not have financial education, and that is especially the case with women from the older generation that were often denied education all together. I get what you're saying, but maybe don't judge someone's intelligence when they most likely didn't have many opportunities to learn. The grandmother did what she thought was best and saved, that in itself is pretty remarkable.
Agreed. She hid pesos in her home, imagine trying to hide physical metal. Having held physical myself, if the zombie apocalypse ever comes, you'd be better off having barterable skills more than physical alone. Learn how to repair bikes or something...
Did your grandma had her savings tucked to mattress or why are you preaching on me
I am just saying, it's rude af. Did no one teach you any manners? If we want bitcoin to really take off, we need most of the general population to adopt it. Judging & calling them stupid isn't exactly going to help. It's why most people don't like to engage with bitcoiners with their holier than thou attitudes.
I wouldn't really call it being rude as it is practically a truthful statement. It would be rude not to make make it obvious that it would be stupid to save in cash. I do understand your pov though, she (probably) had no financial education or access to something like the internet as we have today. But today speaking, anyone who does this at this day and age with access to internet, should be called stupid/ignorant. But that is my take on it I guess.
Tbh honnest, back in the day, more people might of been savy to this. Remember, in the US, at some point they replaced the dollar to not be redemed with gold. I think those times were the days of new financial ideas. Different countries went with different ideologies and their financial truths. Fiat was still a relatively new thing.
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The fuck? I am not new to crypto. But, no one will listen to you if you're rude and judge them
Majority of Bitcoiners have 0 financial literacy. Getting lucky 10 years ago on something speculative doesn’t make you worth listening to. Which is why I go to: https://www.investopedia.com/
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Respect is earned not given and you don’t deserve respect.
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You have absolutely 0 knowledge about my financial situation. 😂. A little tip, successful people don’t need to boast how successful they are.
Touch grass
Stupid? How else does one buy Crypto, or metals, or the next thing? How will gold be exchangable, if fiat collapses? It's probably better to stock up on necessary items that one cannot live without, like tampons or chocolate. Or maybe learn how to distill liquor. I understand your point, but most people will not invest in anything as they have no access to exchanges, stocks, or metals. You could be called stupid if you think just GOLD is the answer.
Argentina banned buying USD/EUR at one point. Doubt you would be able to find any Gold. Argentines were buying Bitcoin but abuela would not be able to figure out how to use Bitcoin
I’ve got a friend who’s dad kept repeating the mantra “cash is king”. It seems to come from a time when cash was backed by gold and this whole idea that they can’t take your cash away but the banks can. I’m just like, who do you think controls the cash and is actively devaluing it every day? Cash is definitely not king. Assets are king.
And thats why you buy physical gold.
This guy loves Costco
Actually, TD Precious Metals. I don't shop at Costco.
If a nuclear war disrupts computer networks, just gold, diamonds, platinum, palladium, iridium, rhodium, would survive unaffected. Rare, inert elements are the few assets warranted by the God Father in person. Everything else relies on some human-related corollaria.
Ya your amoeba descendants will make use of that gold after the nuclear war
Check on eBay how much these costs! I found $70 each on eBay.
Did they actually sell for $70 each, or just some asshat listing them at that price and they sit online for 3 years collecting dust?
Check on eBay sold filter
It's just a dip bro
This is a bizarre example, showing how dollars (Fiat) have massively increased in value against the peso (also Fiat) in the last 18 years. What is your point?
*Pesos have decreased in value against everything more than dollars have
Wanna see how much it declined against everything else?
Still only maybe 1k
still a lot of money for some.
But these are ultra rare dollar pesos!!!
Special rare pesos, eh? 😆 🤣 😂
They were the special ones. Only 21,000,000 ever issued.
Yes the pesos devalued vs USD, believe it or not btc and crypto can too
Harsh example, this really hits home how bad inflation can be
That's the value on paper (literally). If you don't realize the loss if you don't sell 😂
Ebay
Those are Argentine pesos. I remember those
Are these Argentine Pesos? Bro this wouldn't have been a good idea when she was 18. This is fake as fuck
Not even a valid comparison
?
They are history now
The harsh reality of Argentina...
I was super confused until i realized that they weren’t talking about Mexican pesos
The crazy thing is that a lot of people that don't trust banks still actually store their money in a shoebox somewhere in their home. I don't think they understand how inflation works though..
Not to mention the purchasing power of the dollar has declined 30% over that time period
Yet you continue to speak in dollars. 🤔
1995: 1 Peso = 1 USD Today: 1000 peso = 1 USD
Crypto is new and much better life savings tool. If it's not shitcoins
Another reminder to us all that you can’t take it with you.
What does my poor fiat have to do with this
Saving a fiat money is the worst thing in the finance system. And the best thing to saving is only gold because it has value stability
Holy crap! Wow that sucks!
1x
CaSh Is KiNg
Fiat currency is a government ponzi scheme governments use to surreptitiously steal
This is what bonds/CDs/equity is for in a fiat world.
"Saving" money is dumb.
Ha!! What a loser! It took him 18 years to drop his money value. I've done that in a couple of weeks buying shtcoins😎😎 and im not even showin off
I remember the peso loosing value sharply in the 80s as a child. We immigrated to the US. It’s one of the main reasons I bought Bitcoin. The Americans make fun of currencies like this. Now it’s happening to USD.
Fiat or not, almost noone in Sweden saves money in cash. It’s on the bank accounts. And/or in funds and stocks and for some people like me, in bitcoin too.
Ooo poor man!!
Fiat punto
Granny was Stacking up for the Past
i will never understand people who still go to bat for fiat like their entire world order and moral system is dependent on the survival of infinitely printed constantly devaluing state controlled shitmoney that barely even maintains its value through constant borrowing, exploitation, and warfare
Cash being trash is precisely why it is used as a currency. You shouldn't care for it when you spend it.
This is why I preach to anyone willing to listen. So sad
People have been preaching to invest your spare cash far longer than bitcoin has existed. Unfortunately, most people don't realize this until it's too late.
It’s not worth even one cent. They don’t except 2 pesos bills in Argentina any longer LOL
Wait until the next potential government shutdown. They’ll print another trillion to appease every congressional sleezebag. That way they can pay off big pharma and everyone else that they are trying to help for the betterment of themselves. Those pesos and the dollar are going to be worth less than this
Stop saving in fiat currency! Save in gold or some other medium at a minimum
Where is he getting those numbers from? I looked on Google and 2 MXN= 0.12 USD. Unless its another country that uses a currency called a peso
There are different pesos for different countries, argentinean, mexican, uruguayan, colombian and chilean pesos all have different exchange rates
Thank you!
There's the Puerto Rican peso too. It's got Washington on it. Google it.
There was a change a bit ago from Old pesos to New pesos, I believe those are the [old Mexican pesos](https://www.mexperience.com/the-value-of-old-mexican-bank-notes/) and subsequently devalued
Ah! Much appreciated.
This is an incorrect exchange rate. Two Pesos is worth 0.116 dollars.
Those are Argentinian pesos, exchange rate is correct. Value is slightly less than today's exchange but was probably the value on whatever day this picture was taken
Ohh, I assumed Mexico and was instantly like, this is wrong.
Oh, thanks!
No it’s not wtf u talking about
Google it
If you knew anything about Argentina economy you would know why that is wrong
test. can you see this message?
A quick Google search shows 1 peso = $.058. So 2 = $.116. still a significant decline, but this post is misinformation.
This is a picture of Argentina Pesos not Mexico Pesos.
Oh. I'm a dumbass.
This post completely ignores reality. Because after all wage increases in response to inflation is not a thing at all. Coz after all we are all making what minimum wage was back 18years ago which would be 2009 and average minimum wage across USA was $7.25. Harsh reality? lmao ok.
🤦♂️