Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (14712)	2/9/2002 10:17:55 PM
From: Moominoid	Read Replies (1) \| Respond to of 74559

The United States Treasury holds roughly 25% of all the gold ever mined in the world - but I think it's only 8,600 tonnes, and all the gold in the world is about 125,000-130,000 tonnes. You are right on the US - I just checked and it is 8135 tonnes. But it can't be 25% of all gold ever mined as about 2000-2500 tonnes is mined each year currently. and 25% of your 125 Gg (:)) is 30000 tonnes. David

To: Ilaine who wrote (14712)	2/9/2002 10:20:15 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 74559

300 million ounces x $330 = $100 billion. <The United States Treasury holds roughly 25% of all the gold ever mined in the world - but I think it's only 8,600 tonnes> Why shouldn't the US Treasury sell the whole lot [provided they can sell it for a lot more than it costs to produce more]? It's just sitting in a hole in the ground. Gold is the stupidest thing. People spend $250 to dig it up and then spend more money to build a hole in the ground and provide guards and bury it again then are really happy that they own a hole in the ground with gold in it. They could cut out the $250 expenditure and simply own the ground where the gold is sitting and use the $250 to buy shares in companies which do something useful. I think when the price has gone up to a good number [$400 or so], the USA will start selling a few bars to take the edge off irrational exuberance, make a few bucks and get rid of some more stocks. Mq