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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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To: ctdonath2

The last time I checked the US only had a total of around 300 million Ounces of Gold in Reserves, Doubt it is there.


9 posted on 11/26/2012 2:42:47 PM PST by eyeamok
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