There are, in case you were wondering, 32,150.75 troy ounces per tonne, making all the world’s gold worth about US$3.4 trillion,at $900 an ounce.
In America, the national debt is $9.4 trillion, almost three times the value of all the gold in the freaking world!
The total, accrued obligations of the American federal government now total around $70 trillion, which is 21 times more than the value of all the gold in the world!… Not very good huh?
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Did you know that if the U. S. Government sold all the gold in Ft. Knox at the current market price, that it would not have to borrow money for two entire months?!?!?!?!
I think the dollar has a loooooooooonnnnnnnnnnnggggggggg way to fall yet. But hey, we got a tax cut!
You have just made me (painfully) aware of another fact that I did not know. I was watching this thing about bears lastnight and this guy lived in Alaska, and every now and then he had to go to town for supplies, and he mentioned that he bought a magazine and a newspaper and he was so depressed about the state of affairs that the world was in.
Bet he doesn’t worry about the dollar, out there in the piney woods, alone, nothing but the days and the animals to while away his days. Not having to dress for success, microwave a pizza because the old lady is not home, the kids going to the dentist tomorrow, the report from the urilogist says …….. Sorry, I got kind of carried away there.
DS
Comment by James W. — July 8, 2008 @ 11:02 pm