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To: Thomas M. who wrote (277)5/10/2001 8:35:57 AM
From: Ilaine  Respond to of 443
 
Is the US holding gold in Ft. Knox anymore? I know the Fed holds a lot of gold in underground storage in Manhattan, for the US and other countries as well.

According to the World Bank, estimated total world GDP in 1999 was $31 trillion.

worldbank.org

According to the BEA, US GDP is around $10 trillion.

Assuming Pisani is right, the ratio of gold to GDP worldwide isn't too bad, 13%, but for the US, it's less than 1%.

I can see what Eichengreen meant by "golden fetters."


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