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Strategies & Market Trends : The coming US dollar crisis
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To: Oblomov who wrote (5542)3/27/2008 9:22:21 AM
From: Tommaso  Read Replies (2) of 71403
 
It was easier than I thought. There are now 147,600,000 ounces of gold in Fort Knox. M1 (as reported by thehe Fed and not including dollars abroad) is $1,400,000,000,000.

Dived the second by the first and you get $9,485 per ounce.

So setting the price of gold at official $10,000 an ounce would make gold backing of M1 feasible.

Think it could happen?
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