Friday Quiz: How Much Gold Does the U.S. Government Own? (January 23, 2009)
Q: How much gold does the U.S. Government own?
A: about 8.25 tons, or 264 million ounces.
United States Bullion Depository (at Fort Knox)
The United States Bullion Depository holds about 4,603 tons (4,176 metric tonnes) of gold bullion (147.399 million troy ounces). It is second in the United States only to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds about 5,000 metric tons of gold in trust for many foreign nations, central banks and official international organizations.
This works out to about $264 billion at $1,000 an ounce; if gold were valued at $10,000 per ounce the value would rise to $2.64 trillion.
If the dollar were backed by gold valued at $10K/oz., would $2.6 trillion be enough
dollars to facilitate commerce? Given the concurrent use of other gold-backed currencies
regional or national), it seems likely the answer would be yes.
There are a few other twitter novels out there so I reckoned I'd toss my hat in the ring
as well. I hope you enjoy the story.
"This guy is THE leading visionary on reality.
He routinely discusses things which no one else has talked about, yet,
turn out to be quite relevant months later."
NOTE: contributions are acknowledged in the order received. Your name and email remain confidential and will not be given to any other individual, company or agency.
Or send him coins, stamps or quatloos via mail--please request P.O. Box address.
Your readership is greatly appreciated with or without a donation.
For more on this subject and a wide array of other topics, please visit my weblog.
All content, HTML coding, format design, design elements and images copyright © 2008 Charles Hugh Smith, All rights reserved in all media, unless otherwise credited or noted.
I would be honored if you linked this wEssay to your site, or printed a copy for your own use.
|consulting||blog fiction/novels articles my hidden history books/films what's for dinner||home email me|