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Politics : Gold and Silver Stocks and Related Commentary -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (4546)	1/29/2005 2:43:42 PM
From: seventh_son	Read Replies (3) \| Respond to of 18308

Every once in a while, it is good to sit back and put some numbers into perspective. Here are some figures I accumulated from the internet. You can put your own analysis and spin on them. $9.5 trillion US M3 (1) $7.6 trillion Total US government debt (Jan 29, 2005) (2) $1.95 trillion value all world gold (130,000 tonnes est) (7) $1.2 trillion US treasury holdings by foreigners (Sept '04)(3) $122 billion US official gold reserves (5) $720 billion Bank of Japan holdings of US treasuries (4) $11.5 billion Japanese official gold reserves (5) $175 billion Bank of China holdings of US treasuries (4) $9 billion Chinese official gold reserves (5) $138 billion Berkshire Hathaway market cap (Jan 29) (6) $46.6 billion Bill Gates net worth (8) $30 billion Warren Buffet net worth (8) $5.8 billion Russian official gold reserves (5) $5.4 billion Indian official gold reserves (5) In general terms, the world's currencies are currently overwhelmingly backed by US dollar based securities, and only 10% by gold. The US dollar is backed by official reserves that are just over 60% gold (5). US government official gold reserves ($122 billion) amount to 1.6% of current US government debt ($7.6 trillion). (1) sharelynx.com (2) publicdebt.treas.gov (3) sharelynx.com (4) mises.org (5) gold.org -- Jan 2005 statistics $425 gold, 1 tonne = 35270 ounces (6) quote.bloomberg.com (7) money.canoe.ca -- take $425 for gold price (8) Message 20995656