Since the ECB stopped its annual 500 ton of gold sales per year, those charts now look radically different as there really are no significant sellers of CB gold from here. And if there are, it's because someone will be strong-armed to help bail out some bank that has a large delivery coming up.
<< <i>We have enough gold here to back 72.8% of our reserve? That's alot. >>
I believe that means that 72.8% of the stuff backing our money supply is gold (as opposed to foreign currency and such). It doesn't mean if we reduced the money supply by about 30%, it would be 100% backed by gold. The U.S. owns only about $300 billion of gold.
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roadrunner
<< <i>I own 0.000028349523125 Tons and am currently holding as well. >>
When did you overtake my gold supremacy? The Geotovorians will not take this lightly!
That's not to much in the scheme of thing
<< <i>We have enough gold here to back 72.8% of our reserve? That's alot. >>
I believe that means that 72.8% of the stuff backing our money supply is gold (as opposed to foreign currency and such). It doesn't mean if we reduced the money supply by about 30%, it would be 100% backed by gold. The U.S. owns only about $300 billion of gold.
<< <i>[......... The U.S. owns only about $300 billion of gold. >>
OK, so that's about 4 months worth of 2010 US Govt spending or a million Michelle Vacations
Box of 20
Fred, Las Vegas, NV
Stackin' em on up here, boss.
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