The US gold reserve officially stands at 8,133.5 tons although it has never been properly independently audited. At USD 1,300/oz, this would be equivalent to 340 billion dollars. The total US money supply is about 17,000 billion dollars. For each "gold backed" dollar today, there are therefore 49 unbacked dollars. The gold price would thus have to increase 50-fold to USD 65,000 if the US Dollar were to be fully gold-backed by 16 June 2021.
Not as bullish as me ... but his close
- Forums
- Commodities
- GOLD
- gold
gold, page-26341
-
- There are more pages in this discussion • 103,134 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online