Thursday, February 12, 2009
Here are some interesting Gold facts:
In 2001, it was estimated that all the Gold ever mined totaled 213,113 tons or 5,114,724,475 oz. 5 billion oz or less than the amount needed for each person living on the earth to have a single oz.
One ton of Gold at todays price($950) equals $22,800,000.
So all the Gold in the world(2001) is worth about 4,858,988,251,250.
Just under 5 trillion dollars. And how much has our wonderful, honest
government magicked up recently? Double that. And this isn't
When the U.S., under our brilliant leader nixon, took us off the gold standard on August 15, 1971 the price of gold had been fixed at $35 per oz. From that day on the u.s. dollar was pegged to nothing of real value and currency inflation began with a vengeance. On August 15, 1971 the Dow Jones index was at 856. At that time the Dow/Gold ration was 24 to 1.
Today the Dow is at 7765 and Gold is at $950. The ratio is 8 to 1!
Now given that ratio would you have been better off buying gold at $35 or the dow at 856?
What do you think the next few years will bring? My guess is a 1 to 1 ratio will come about long before a return to a 24 to 1 ratio(never).
So who should you trust with your money? Your oppressive, corrupt, violent government or Gold?
Hint: there is only one right answer.
Maybe next time I will discuss silver which I believe is a superior investment even to gold.
Convert now. You won't regret it.