How much gold in the world estimate

[jim4silver]

Cool article. Don't know how accurate it is but worth a look in my opinion.

http://www.numbersleuth.org/worlds-gold/

Jim

 

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[Goose-0]

An excellent artical.....I saved it, thanks.

 

[jim4silver]

An excellent artical.....I saved it, thanks.

Hard to imagine that all the gold ever mined since the dawn of time will only pay down a little over half of the US national debt (at current gold prices). I know the number in the article is only an estimate, but it does put things into perspective.

Obviously not all that amount of gold is available for investment at any given time and it includes all the gold from everywhere on earth. But even if all of the gold ever mined was donated to the US, we would still have $7 Trillion in national debt plus the social security and medicare obligations facing us (valued at over $100 Trillion in 2009), we won't even go into other gov programs- food stamps, etc. This is why I think a modern day gold confiscation will not happen. There is not enough in the hands of US citizens (or even mined from the beginning of time) to make a dent in any way based on all the outstanding debts/obligations facing us now.

What makes the amount of gold even more miniscule is when you look also at the total amount of derivative investments floating around in the world, which has been valued from between $700 Trillion and $1.2 Quadrillion, depending on whose numbers are used.

Jim

 

[mts]

That is a really cool article. I've heard some similar statistics before about how much gold there is in the world, but they do a great job of going further than any other article I've read on the subject.

 

[markmopar]

Excellent!