An old article, and the total in derivative debt by 2015 will - TopicsExpress

An old article, and the total in derivative debt by 2015 will amount to perhaps double the 2010 figure. What if all of that fantasy were backed by REAL (not paper) gold? How much would gold be per ounce? Well, just like Bill Still, the central bankers really dont want us to think much about that. But why shouldnt we? Is it unreasonable to think that money should reflect some element of reality? As an abstract-esoteric argument, if money is unreal and we are working for money, then our work is based on fantasy. While that model has worked to an extent since August 15th, 1971, it may no longer work when trust in that fantasy is lost by the people at large. Therefore..... it is useful to surmise what gold would be with a little arithmetic and priced per ounce, as if we favored reality to fantasy, using the 2010 figure overall. 1.2 quadrillion USD = 1200000000000000 According to the wiki, world gold holdings = 171300 metric tonnes One metric tonne = 2 204.62 pounds 171300 x 2204.62 = 376990020 pounds = 6031840320 ounces 1.2 quadrillion divided by 6031840320 = $198944.25 an ounce

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