Hi RH,
That was an interesting link. I'd never given much thought to the existing gold "float" before. If that stat is true, and there really are only 12,000 tons of gold out there (I assume above ground), then the following calculations would follow:
12,000 ton * 2,000 lb/ton = 24,000,000 lb
24,000,000 lb * 12 oz/lb = 288,000,000 oz
288,000,000 oz * ~285 US$/oz = 82,080,000,000 US$
Note that the entire gold stock can be purchased for a little over US$82 billion!!
Can this possibly be right? A half-dozen hedge funds putting up 25% margin could lay claim to the entire gold float?? |
