Many comparisons from everyday life show that gold is currently not valued at an excessively high level. While a “Mass” beer (one liter) at the Munich Oktoberfest in 1950 still cost a converted EUR 0.82, the price in 2014 stood between EUR 9.70 – EUR 10.10 (average EUR 9,90). Thus, the annual price inflation of beer amounts to 4.2% per year since 1950.
Here is the whole report. The beer bit is just a small part of it but it is interesting how a comparison of two specific values, one being a beer at a fest, track against each other. Is the real point not also that beer is cheap? Is a variant that US craft would not compare as well? I do love the econo-wit: "Beer-aficionados holding gold should therefore so to speak expect a rise in beer liquidity." It's not all bad academic jokes. The economics of beer have real world implications. The taps in Venezuela may yet turn off. And, as I learned last week when I was twice over in northern NY, the price of beer in personalized international trade can affect a local market.
Buying US craft with an 80 cent Canadian dollar does create some new considerations but, really, not at a macro-economic level. I still bought six pottles' worth. And I will be over again next weekend and I may well buy more beer then. But not as a matter of need. Compare to Angola in the late 1980s when there was hyper inflation. Government workers paid in coupons would to buy foreign beer, which they sold on the black market. Demand. That's what that there is.