All The World`s Gold: How Much Is Out There? [Pic]

Submitted by: Crabes 5 years ago in Science

Are you still thinking that the world adapting to a gold standard is a good idea?
There are 18 comments:
Male 25,416
And your GF wants all of it....
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Male 195
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Male 36
The pro-gold-standard people are the ONLY ones who understand basic economics.
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Male 646
The gold standard people don`t understand even simple economics.
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Male 15,832
So, if you had ALL the gold in the world, you could pay off HALF of the US national debt.

We are so f***ed.
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Male 453
Gold, the next real estate bubble
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Male 48
This more or less explains why the gold standard is a good idea. Since there is a limited amount of gold in the world and it doesn`t degrade when in its pure form, the value of gold will remain relatively constant. The reason gold`s price compared to the dollar has gone up is because of the falling value of the american dollar. If you put the two graphs next to each other, you will see very similar lines. It is much more difficult to mine more gold than to print paper money out of thin air. Therefore the value of gold will remain steady. Under the gold standard you should be able to go to the bank to exchange your currencies for its value in gold or silver. Under the current fiat system your money has no value until you spend it. It does no good to save it. Also this is why consumerism has gone rampant.
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Male 14,332
Awwww Gerry beat me to it!!!!
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Male 1,284
money should by determine by the numbers of funny pictures you got on your hard drive
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Male 3,482
I prefer bottle caps.

That`s just me, though.
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Male 2,440
"Are you still thinking that the world adapting to a gold standard is a good idea?"

It sure beats fiat.
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Male 37,762
Interesting! Bringing back the "gold standard" isn`t possible, unless gold is worth a million $$ a gram!!
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Male 2,390
I prefer to use seashells and Tennessee Sutton moonshine as my monetary units. Take that Gold.
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Male 6,737
Yay to Gordon Brown for selling all of ours at a pittance(!)
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Male 38,468

Where did all that gold go ?


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Male 3,364
Oops...Glenn Beck ain`t gonna like this!
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Male 5,811
Wow, that was more information than I can bother myself to read about something I don`t care much about.
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Male 1,284
Link: All The World`s Gold: How Much Is Out There? [Pic] [Rate Link] - Are you still thinking that the world adapting to a gold standard is a good idea?
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