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To: 1010RD

Why is any particular amount needed?

The USA has 8,100 tons of gold, or 260,421,047 troy ozs.
The USA has a money suppply (M1) of $1.5 Trillion.
Do that math and you get a price of $5,500 an oz.

It a one time conversion, I don’t see that the price matters.


54 posted on 03/10/2009 3:08:29 PM PDT by Jack Black
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To: Jack Black; RockinRight; Fan of Fiat
It a one time conversion, I don’t see that the price matters.

That's why you're a goldbug.

60 posted on 03/10/2009 3:24:38 PM PDT by Toddsterpatriot (Havoc has been back since September. Or was it April?)
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To: Jack Black

Price matters.

How much gold is produced every year?

What is the average break even cost to mine an ounce of gold?

Then do the math.


61 posted on 03/10/2009 3:24:56 PM PDT by 1010RD (First Do No Harm)
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