Jim Davidson wrote: > > Dear Bob, > > > Those 2 items being normally expressed in tons. > > Yes, they are. The e-gold inventory is expressed in ounces. > Conversion is as follows: 50,742.69 ounces divided by 12 to > get pounds troy (12 ounces troy to the pound troy) = 4228.557 > pounds troy.
> I wonder what figures you believe accurately express the > "central bank holdings" for, e.g., the US Treasury or > the Federal Reserve? I'm somewhat doubtful of their claims. I don't pay a lot of attention to those figures as the US numbers are quite phony, and other central banks come up with surprise announcements sometimes so that everybody has to make an adjustment to their guesses. If a central bank only has half of what they say they do, then some other entity(s) has the other half. So total known gold amounts are the better thing to track, at least for me. They hardly change except for about a 2% average increase/yr over the long long run. 165,000 ton seems like a good "about" figure for gold in the world, from what I've read. times 2000 lbs/ton = 330,000,000 lbs times 12 oz/lb = 3,960,000,000 ozs times $400/oz = $1,58400,000,000 Call it $1.6 trillion worth of gold in the world. This number is close to what I've read a number of times. That's a very small number compared to bonds in the world, or equities in the world, or, how about an estimate for derivatives by the BIS (I think it was) which was around $170 trillion, + or - 5 or 10 trillion if I remember right. Compared to estimates of totals of different types of wealth in the world, $1.6 trill ain't nothin. And I'm not considering derivatives as wealth. They're just bombs. They are passing on risk to who? To each other? In which case they don't pass on risk if they are taking it on again from somebody else. To a single entity that can take all the risk and still stay standing? There's no entity in the world big enough for that. Just more fraud. There's going to be some really big downsides to really big gold and silver prices. It ain't going to be pretty. bob "A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader." -- Samuel Adams --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
