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<p>[QUOTE=&quot;JimOfOakCreek, post: 1469124, member: 33870&quot;]The USA #1 (8133.5 tons) holds more gold than the next three countries at the top of the list of gold ownership, Germany #2, Italy #3, France #4. China is #5. In fact thne USA holds 1/3 of all the gold in the world!</p><p><br /></p><p>8133.5 tons x 2000 x 12 Troy oz X $1600 = $312.33 billion! Still not enough to even make a dent in the national debt. Releasing all that gold would drive the price down, at least in the short run. </p><p><br /></p><p>Tying the dollar to the gold standard is not an option. There&#039;s not enough gold in the world to cover the debt of the USA.&nbsp; And there is certainly not enough to back the entire economy of our country alone. </p><p><br /></p><p>There are seven Billion people in the world. Let&#039;s say one person in three wanted to own one ounce of gold. You would need over 97,000 tons of the yellow metal to meet demand. The top 13 countries (including the USA) own a combined 23,000 tons.</p><p><br /></p><p>To me that means gold is grossly under valued.[/QUOTE]</p><p><br /></p>

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