I think our starting points are different. I show US having 8,133 metric tonnes ,equivalent to 261,500,000 troy ounces x 2900 is around 800 billion. I believe the revaluation has to be around 20,000 per ounce to make a huge dent in US debt. Doug, check my numbers too, thanks for the note. My feeling is they should report the holdings in troy ounces, when they start using tonnes, it gets confusing, I suggest using ounces since that is how it is listed on the market (spot price)
Sir Little :),
I just did a quick calc on above ground gold:
Assume: ~65 cubic feet (probably a low est.), assume ~32k Troy oz. Per tonne and $2900 per oz.
My answer, check me, is roughly $25 trillion. If we had access to all that and extrapolate 4x, that monetizes a lot of earthly debt.
Just for fun,
Doug.
~=~=~
I really enjoy your oeuvre.
I think our starting points are different. I show US having 8,133 metric tonnes ,equivalent to 261,500,000 troy ounces x 2900 is around 800 billion. I believe the revaluation has to be around 20,000 per ounce to make a huge dent in US debt. Doug, check my numbers too, thanks for the note. My feeling is they should report the holdings in troy ounces, when they start using tonnes, it gets confusing, I suggest using ounces since that is how it is listed on the market (spot price)