Best I can figure is we have around half a trillion dollars worth at 1700.00 an ounce. How will that cover circulation and debt level?
It's not as easy as that. Currently the U.S., by law, establishes a set value per ounce on our gold reserves. That is $42.22 per ounce and it's basically for accounting purposes. So every ounce in Fort Knox or West Point, or Denver would not be valued at $1700 or whatever the current spot price is on the international markets but far less.