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Title: All the World's Gold
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URL Source: http://www.numbersleuth.org/worlds-gold/
Published: Jan 12, 2012
Author: Numbersleuth
Post Date: 2012-01-12 17:04:33 by Capitalist Eric
Keywords: None
Views: 2283
Comments: 5
Poster Comment: $8.5 Trillion in gold, using today's market value. As of 2008, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market funds, the whole enchilada) was estimated to be just under $60 trillion. Given the insane money-printing (and digital money-creation) by the various central banks around the world, it would not be unrealistic to guess that current total money now equals $100 Trillion, if not more... What this means is that, by 2008 supply, gold is undervalued by a factor of 7, and should be at ~$11,200/oz. If we estimated a total money supply of $100T, then gold should be 11.76 times higher, or ~$19,000/oz. Going by the more conservative 2008 number, and historical ratios of gold to silver, silver should be @ $~630/oz.
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#1. To: Capitalist Eric (#0)
This proves the contention of Debt Free Currency and Social Credit activists like myself that there is simply NOT enough gold in the world for a coined hard money system with the todays population figures unless an asteroid of the stuff were as big as the one that killed off the dinosaurs were to land on earth tommorrow. Silver might be a possibility for a coined hard money standard as there is usually 16 times more of that metal than there is gold however I tend to think that the best chance for a hard money standard if there is one at all is the COPPER dollar. (Currently a quarter pound of that particular metal.) issued as a paper currency on a private social credit basis using a national version of the Ithica Hours or BirkShares model.
Let me tell you a tale about your idea concerning, "This proves .." I hope you don't mind. You don't your ass from a hole in the ground. You have proven YOUR position with your 'ol pal TLBSHOW.
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#2. To: Coral Snake (#1)
This proves
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