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Politics : View from the Center and Left
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To: Wharf Rat who wrote (474586)6/8/2021 8:45:20 PM
From: cosmicforce  Read Replies (3) of 542152
 
<back to the gold standard>

There is currently $400 trillion of world wealth and only 6.5 billion ounces of gold above ground. If the amount of world wealth were to be represented ONLY by gold-backed exchanges - gold would be $60k per ounce (first number divided by second number) and not under $2k.

It's more complex than this when we include all the assets types and consider the difficulty of managing that much physical gold movement. The number only goes up when we start to talk about the stuff that isn't fungible.
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