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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (27627)	4/19/2000 11:58:00 AM
From: TheStockFairy	Read Replies (2) \| Respond to of 42523

I think the gold standard, if brought back, would be great. We could go back to thinking like Mercantilists and ship gold abroad in trade for goods. Lets take a look: $29 billion trade deficit / $281 per OZ Gold. 1 OZ * 12 OZ in a pound * $281 = $3372 per LBs $3372 lbs * 2000lbs in a ton = $6,744,000 per Ton or $29 bil / $6,744,000 = conversion to gold or 4300 Tons of Gold Problems: Fort Knox holds the US's gold reserve which is about $6 Billion worth of gold. Which, end the end, is only about 889 Tons