Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: DUMBGRUNT

From comments at the site:

How much storage space does 63 million ozs of gold take up vs its equivalent in barrels of oil at today’s price?

It would be a 16 foot cube.

If you have 8 foot ceilings in your basement, it would take up about a 20’ x 25’ footprint down there.

It’s worth $82B at today’s price. (Obviously it will cost money to mine it, though.)

That’s equivalent to 1.3B barrels of brent crude today.

Russia is producing 11M barrels per day right now. So this gold is the equivalent of 120 days of oil production, or roughly 4 months.


2 posted on 02/08/2019 12:21:08 PM PST by DUMBGRUNT ("The enemy has overrun us. We are blowing up everything. Vive la France!")
[ Post Reply | Private Reply | To 1 | View Replies ]


To: DUMBGRUNT
(Obviously it will cost money to mine it, though.)

Not as much as here . . . by a long shot.

3 posted on 02/08/2019 12:25:14 PM PST by BipolarBob (Does Elizabeth Warren use Walter Reed Hospital or the Indian Hospital on the reservation?)
[ Post Reply | Private Reply | To 2 | View Replies ]

To: DUMBGRUNT
$82 billion is certainly a nice find...

but let's compare that to what our government spends on a daily basis: $4.4 Trillion divided by 365 days is $12 billion per day...

So this magnificent and world's largest and amazing and wonderful 35-year find would only finance DCs spending of our confiscated money for... a week.

14 posted on 02/08/2019 1:00:26 PM PST by Teacher317 (We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men)
[ Post Reply | Private Reply | To 2 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson