total mined gold since beginning of time, a long time ago, by my notes, source unkowable ("Power of Gold" by Peter Bernstein, I believe), is ...
a cube with 20-metre (65ft) sides = 153,000 tonnes = 153,000 x 35,273 oz = 5.4 billion oz @ USD 650/oz = USD 3.5 trillion
... averages to be less than 1 oz of excess mineralized savings per soul which = a tiny fraction of the surplus funds that will be looking for salvation from the event singularity that ought to take place after the dark interregnum which we shall code name "MONETARY RESET".
My comment to the foolish radio show guy is just this, "there are two and half trillion of ever worth-less fiat paper derived and massless electronic blibs on the computer screen of Greater China and Japan CBs alone, and offsetting that is ONLY USD 54 trillion of unfunded US FEDERAL OBLIGATION, alone"
So, plugging the trusty HP12C with 54 Trillion enter, 5.4 billion Oz divide, to monetize only the whole of US FED obligations today, right now, I get USD 10k per oz for the floor value of gold, the true and only money, in God We Trust.
Footnotes:
- an ounce of gold into a wire 50 metres in length
- a tonne of gold could be stretched to the moon and back |
