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

To: goldsheet who wrote (4581)	1/30/2005 10:45:40 AM
From: seventh_son	Read Replies (1) \| Respond to of 18308

> 150,000 mt is more likely. Thanks, I've heard 130,000 used a few times and mentioned in the article I referenced, but I will accept USGS as more authoritative in its estimates. At 150,000 mt that is about $2.25 trillion at today's prices. That being the case, the US government only owns a bit more than 5% of the total, although 20 times the GFMS bar and coin retail investment demand for 2004 (which looks like about 400 tonnes extrapolating numbers, since Q4 data no yet in). Thanks goodness for the US that they don't honour dollars with gold anymore -- I couldn't find statistics on the currency in circulation, but I remember seeing an estimate of the number some time in the past and figuring that US official gold was worth less than 1% of the paper money outstanding.