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| from an invstm newsletter.......
from Dylan Grice, an analyst with the French investment bank, Societe Generale. Grice says, as we well know, investors are buying gold to protect themselves from a decline in the dollar because they don't trust the Federal Reserve... The U.S. government has already begun monetizing its debt and will likely keep rates near zero for years. And where does Grice get $6,300?
The U.S. owns nearly 263 million troy ounces of gold (the world's biggest holder) while the Fed's monetary base is $1.7 trillion. So the price of gold at which the U.S. dollar would be fully gold-backed is currently around $6,300. Gold is very cheap – at current prices, the USD is only 15 percent gold-backed.
....thats a number that makes a head spin....up there in okeys atmosphere:) | |
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Interesting Gold Numbers
