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To: Renfield

“23,349 tonnes of gold in their respective reserves, representing more than $1.3 trillion”

Given the number of countries included, and the scale of their combined economies, that’s not much.


2 posted on 11/26/2012 2:15:52 PM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: ctdonath2

Which means that there will be one hell of a reset when digital fiat goes vapor and burns.


6 posted on 11/26/2012 2:24:10 PM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: ctdonath2

That’s about 8 percent of our national debt.Pretty grim.


7 posted on 11/26/2012 2:24:22 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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In the USA, total cash equals federal debt equals GDP, each about $15T. Assuming the same for all other countries listed (for a very gross SWAG), and ignoring the IMF’s opaque holdings, that $1.3T in alleged gold is up against total currency of about $39T ... about 3% of cash has gold backing
- and that’s cash, not “money” which outnumbers real currency some ten-to-one.


8 posted on 11/26/2012 2:35:18 PM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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