The “Gold Standard” Is A Great Idea…..Until You Do The Math
- Posted by ToddSullivan
- on August 25th, 2012
Hearing more calls for this lately…..so….
There are 165,000tonnes of gold ($GLD) in the world. 1 tonne = 1,000kilograms and 31.1034768 grams per Troy oz and $1500 per Troy oz.
The math says that all the gold in the world comes to 5,304,873,184 Troy oz which at $1500 comes to $7,957,000,000,000 or $7.957Tril US$
Our economy alone is $16Tril. There is no way a gold currency standard can meet the needs of global growth.
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Todd's investing strategy is essentially long with the rare short. He seeks to buy undervalued issues with an upcoming catalyst that will help them realized.... More »
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