On gold ...
debt clearing level
usa fed level, at usd 12 trillion debt (current actual debt of 10 tril + implied debt of 2 tril for bailouts to date - a lot of interest payments per annum ... as in ouch, if pegged to gold hoard that must flow out starting at some dire juncture, when wastrels must be allowed to sink, minus gold grabbed from weakened but still clutching hands)
and gold reserve of 8,100 tonnes (285,719,091 ounces)
works out to be usd 42k/oz for a reset that wipes out the debt, a nonsensical number
gdp clearing level
globally, official gold reserves total 31,000 tonnes (1.093 billion oz)
global gdp may be at 65,000,000 million
assuming gdp money velocity of 4, gold can be money at usd 14,900 per oz
leaving nothing much for financial industry to play with.
global trade clearing level
total value of all import/export globally is 25 tril, assuming velocity of moolah at 4, nets out to be usd 5,700/oz gold if only used to settle trade.
They can try fractional gold backing, which could create panic as well as require quick rework to create new new monetary system.
new system structure and chromosome
whatever the new system, any one that allows the USA to print paper and exchange for usd 3/gal gas is out.
without new system, towards crisis we go, and TeoTwawKi, while delayed, must still be, only that the eventual kaboom will be more massive still.
Question: do you have your fair share of gold?
per capital fair share could be 1.24 oz, as
global population is 6.7 billion
total above ground gold (including stuff on circuit boards, in teeth, and at bottom of oceans) is at 155,000 tonnes = x 35,273 oz/tonne = 5,467,315,000 oz, or a cube with 20-metre (65ft) sides, with an ounce of gold into a wire 50 metres in length, and a tonne of gold could be stretched to the moon and back
... and if tagged to current per capita income weight, ...
:0)
I am guessing that on reset #1 they will try to get away with the fraud of simply jiggling the existing system of faith in paper, and so there is time to hoard more physical gold
I recommend these two books
amazon.com
achamchen.com
cheers, tj |
