Serious Economics, Gold and Silver Questions...

[placerman]

I have a few economic questions for you guys...

1) How much gold is there in existence in the world?

2) How much silver is there in existence in the world?

3) There is a lot of speculation that the world total know gold supply is much less than what is known to exist in the form of jewelry, central bank holdings, etc. In other words, several central banks are possibly reporting ownership of gold that they no longer have. First it was the story about the tungsten filled gold bars and now it is being reported that from 1971 to 2005, the US sold almost all of their 8000 tons of reported stock in gold bullion. What do you think?

4) There is a lot of speculation about what is going on and why the US seems to be so dead set on destroying the dollar. Some well regarded economists are speculating that they are doing this in order to cause mass long term inflation in order to make the 60 plus Trillion dollars in debts more manageable. What do you think?



If possible, please post links to back up your information....

Thanks.

 

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[jim4silver]

You are asking many very good questions. To have the correct answers to these questions would be wonderful knowledge to possess.

But I highly doubt that anyone here, and most likely anyone in the world can answer them.

Since gold and silver have been mined for thousands of years and it can be stashed successfully pretty much forever, there is no way to audit the total above- ground supplies.

There are many well-respected PM pundits who claim to know many of the things you ask, but none that I have seen so far has ever showed solid evidence or proof backing their position one way or the other. If I have missed such evidence, I hope that somebody here has it too.

Good questions placerman!

Jim

 

[alexfm123]

I have seen on tv, (PBS not a news channel), says that all the gold in circulation now is only estimated to be about 20% of all the gold in existence on earth. Im not sure how true that is, but it sure sounds good. Silver, Im not too sure about though.

 

[placerman]

I got a partial answer to my question today....

They are saying that 163,000 tons of gold exists and there are 26,000 tons still left in known gold deposits around the world.

World central banks hold 28,700 tons and the rest is in the form of jewelry, used in industrial applications, or lost.

http://news.xinhuanet.com/english/2009-12/17/content_12658586.htm