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To: goldsheet who wrote (56343)	7/17/2000 1:43:45 PM
From: Don Lloyd	Respond to of 116785

Bob - ["If all of the dollars in circulation (currently $560 billion) were backed with gold, the implied price would be about $2,500." I love it when the "experts" can not divide. $560B divided by 261M is $2146, not $2500 ! Also, the last report I saw of currency in circulation was 523B which when divided by 261M is $2004 It's a fun calculation, but moot point, since currency isn't backed by gold. ] Also moot because all prices of any one good in terms of another, including money of all types, are determined on the margin, not on the total quantity. Regards, Don

To: goldsheet who wrote (56343)	7/17/2000 6:02:39 PM
From: d:oug	Read Replies (1) \| Respond to of 116785

<<It's a fun calculation, but moot point, since currency isn't backed by gold.>> (for) "If all dollars in circulation backed with gold, price [of gold] $2,500." Bob, yes based on facts, but no based on a gold bugs facts. Not to imply that gold bugs are not part of that other group, just that .... you know what i mean, which is that the gold bugs know that the number given out by the usa government as dollars in circulation is that which Allan Greenspan has already been on official record as identifing as unknowable, based on him not being able to manage. So what the real number of us$ in circulation ??? Might it show a price of gold to be $800 +- 50% ??? d:o)ug . .