Something to think about with gold and silver

Discussion in 'Economics' started by peilthetraveler, May 31, 2009.

  1. If you could freeze the price of silver today(around $15.50) and buy it all, you could purchase the entire world supply for under 300 billion dollars. Gold you could purchase the entire world supply (at $980 per ounce) for about 830 billion dollars.

    Now think about that. All the gold and silver in the world could be bought for a little over $1.1 trillion. Think about that in terms of bailout money we have already spent. Just think that in order for us to pay off our deficit in gold & silver, we would have to rob the entire world of all their gold/silver reserves TEN times before we could pay it off in real money.

    Just for reference...The US reserves in gold right now is about 256 billion dollars worth of gold. So if the US wanted to trade gold for say stock....they could buy about 75% of exxon with their gold. Thats it. 3/4ths of 1 large company is all the government could buy in terms of real money.
  2. Eight


    Some think that Fort Knox has been looted decades ago. There has not been an audit since Eisenhower days. Besides, gold and silver are so last year, we have derivatives nowadays...
  3. And this is the core of the precious metals bug argument. There really isn't that much out there.
  4. NazSpaz


    These numbers are shocking to me, I have just long assumed there had to be a lot more, where do you get the numbers?