If you,or anyone can check my numbers and thought process,i would appreciate it..
goldsheetlinks.com
I think there are 6.5 billion ounces of gold total in the entire world that has been mined since the beginning of mankind.About 2500 tons (80 million ounces) are mined each year,an increase of 1.23%..
Out of the total 6.5 billion ounces,about 50% are in jewelry,artifacts,teeth,etc...and 50% in bars, coins,and rounds.
Governments,the IMF,etc own about half the bars and coins,or 1/4 of the total above ground supply..the public owns the remaining 1/4 or 1.62 billion ounces.
So the conclusions drawn -
If you own 100 oz. of gold you own i/65,000,000 of the entire world's above ground supply,leaving at least 6.4 billion people with less than you have.
Owning 100 oz is 1/38,000,000 of all the bars and coins,
and 1/19,000,000 of all that's available to public unless gov't's sell more of theirs.
My point is that at just 100 ounces,you by definition are in the top 1% of gold owners in the world,and on a median basis much higher on the scale.
Now ,being realistic, 95% of the world population doesn't have much anyway,so we wont consider them.
Even so,out of 325 million people who probably have some decent savings,at most only 20% of them could ever have 100 ounces,and taking out gov'ts and jewelry,then only 5% of the well-off people of the world could ever amass 100 ounces.
you can work the numbers out different ways,but as the price has risen from 250 $ U S to 850 $,then many more folks are unable to accumulate their 100 ounces.
It just seems to me that everyone who can reasonably tuck away 100 ounces and forget about it should do so,and let the rest scramble around to get theirs.
Granted this is a bit of a variation of the old sales pitch"If everyone in China wore the coats 2 inches longer look at all the cloth we could sell",but you get my point that there really isn't much gold out there if the public,or a gov't, wants some.
all thoughts appreciated,P1976
P S ..Accumulating more than 100 ounces of gold is good also,it just means Mqurice won't have any ,sorry 'bout that Mqurice. |
