If Gold Backed the World’s Debt
JUNE 22, 2015 BY MIKE FINGER
If all the world’s debt were backed by gold, the US dollar price of the yellow metal would be nearly $34,000. Frank Holmes of US Global Investors explains the math in an insightful article.
- 5.9 billion ounces = total above-ground gold in world.
- At $1,181 per ounce, that’s about $7 trillion.
- Total global debt = $200 trillion.
- $200 trillion divided by 5.9 billion = $33,898.
It’s an eye-opening number in a world where the gold standard reigned supreme for most of modern history..
Quelle: U.S. Global Investors, Reuters, McKinsey
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