Hi:
I'm researching a paper and came across some interesting stats. Can
anybody verify and/or comment?
Why not return to the gold standard? One of the major issues with this
premise is the fact that there simply isn't enough gold in existence to
back all currencies with gold. At the end of 2001, it is estimated that all
the gold ever mined amounts to about 145,000 metric tons . As of 31
December, 2001 the price of gold was $278.10 a troy ounce. Hence, the
total value of gold ever mined and in use is $1,296,462,780,007 ($1.3
trillion). This means the value of gold has to increase to match the
backing of currency.
Comments?
George
_______________________________________________________
Dr. George Matyjewicz, Chief Global Strategist
GAP Enterprises, Ltd. http://www.gapent.com/
Moderator of E-Tailer's Digest http://www.etailersdigest.com/
Automated Press Releases http://www.automatedpr.com/
Board Member AIB #34 http://www.aib-world.org/
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