Most people would take it. But no amount of money is good if world falls apart. I believe there is enough gold there to help the econome. I believe it could make America great again. My estimate on this mine is between 38 million to as high as 19 trillion... Gold was like 32 dollars an ounce back when the low balled 200,000,000 estimate was made. It was unclear when the dutchman said it could make a hundred people millionaires. So 2 mil a person to 900 mil a person...
The government would piddle it away like free revenue. A well established trend.
It most assuredly wouldn't return to a gold standard , which could hint at making it great again.
Fort Knox has room (I suppose) to sweep away cobwebs and store some gold. Ain't holdin my breath that's what would become of it.
And will wager a nickle or a doughnut , with a free 19 trillion in the governments hands there'd still be kids going to bed hungry somewhere. And despite saying that, I believe we have the greatest government.
Economy will chug along and flux high and low. It's what it does.
Our G.D.P. matters when we look at debt.
How dumping gold into our monetary merry go round would affect the economy might be more short term than a lasting effect.
Introducing it gradually would just delay the inevitable of relying on our production ,import vs export ratio , and a host of other economic generators.
2 Mill. would put me well into the black though....Temporarily anyways. I'd try to do better than some who blew through easy money . But who knows?
[Out Of Luck: Lottery Winners Who Have Gone Bankrupt
Benzinga
Hannah Genig
BenzingaOctober 28, 2018
Nearly one-third of U.S. lottery winners declare bankruptcy, often within just a few years of their big win, according to a study by Wolf Street. After sizable tax obligations, lavish spending decisions and prior monetary commitments to friends, family, or the clerk at the liquor store, winning the lotto is often more of a curse than a blessing.
After a South Carolina winner bought a winning ticket for last Tuesday's $1.5-billion Mega Millions jackpot, here's a look at some of the people who wound up worse off than they were before after hitting it big, according to Bankrate data:
William Post III, $16.2 million. Just three months after winning the Pennsylvania lottery in 1988, Post experienced crime, bankruptcy and poor spending decisions, such as the purchase of a restaurant and an airplane. Post was $500,000 in debt and filed for bankruptcy in the early 1990s, according to Bankrate.
Evelyn Marie Adams, $5.4 million. Adams won the New Jersey lottery twice in 1985 and 1986 and admitted to being broke in an interview with The New York Post in 2012. Adams reportedly gambled excessively and lost the majority of her money in Atlantic City.
Andrew “Jack” Whittaker, $315 million. Whittaker’s 2002 lump-sum payout of $170.5 million supplemented his existing net worth of roughly $17 million. The millionaire donated a good percentage of his earnings to various charities and foundations until his divorce and the death of his granddaughter. From there, he experienced extensive theft and began drinking heavily.
Alex and Rhoda Toth, $13 million. The couple accepted payments of $666,666 over a 20-year span in 1990, but filed for bankruptcy in 2006 after living lavish lifestyles in Vegas and enduring a sleuth of legal expenses resulting from family drama. The couple was later charged with tax evasion. Rhoda was sentenced to two years in prison and was fined $1.1 million.
Billie Bob Harrell Jr., $31 million. Coined as “Santa Claus,” Harrell paid bills and bought new cars and homes for his family before purchasing roughly 500 turkeys for the poor. Less than two years after winning the lotto, Harrell took his own life, according to Bankrate.
Janite Lee, $18 million. An entrepreneur in St. Louis, Lee donated wads of money to the Democratic National Committee, as well individual political candidates. She also donated to Washington University and its law school, according to Bankrate. In 2001, after extensive spending, Lee filed for bankruptcy with only $700 left to her name. She had reportedly lost roughly $350,000 gambling.
Suzanne Mullins, $4.2 million. Mullins won in the Virginia lottery in 1993, a prize that amounted to 20 annual payments of $50,000. In 1998, Mullins took out a loan from the People’s Lottery Foundation, but was later sued in 2004 for owing the foundation over $150,000 from the loan.
Denise Rossi, $1.3 million. Upon winning the lottery, Rossi’s first endeavor was to divorce her husband, who had no knowledge of the win. In 1999, the ex-husband sued and the judge declared that Rossi had violated state asset-disclosure laws. As a result, the ex-husband received all of the winnings, according to Bankrate.]
