U.S. Going Back to Gold Standard? Dollar Bill Act of 2009

With a current gold reserve of 8,133.5 tons and MO (Cash), M1 (Demand Deposits), and M2 (Long Term Deposits) totaling 7,447.1 billion, someone in congress needs to do the math. At 500.00 per oz, we will need to shrink the economy down to 130 billion dollars. Try and buy a Nimitz carrier with that, well maybe you can buy one or two, but the up keep will kill you.

Even if they are just talking currency (M0), then they would need to pull 629 billion dollars out of circulation or come up with 39,312.5 tons of gold.

Numbers are based on Wikipedia search.

 

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Folks, it sound like we finally aquired a real economist on the forum so you won't have to take my jack of all trades knowledge base for all your economics needs any longer

Ruben

 

I love your jack of all trades knowledge, that's what keeps it real. I just read too much.