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Kyle
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PostSubject: Gold....   2/25/2012, 1:48 am

Watching the last episode of season two of Gold Rush, one of the "Fun Facts" they have is the US has over 8000 tons of gold stockpiled (Almost an ounce for every citizen in America)

Pretty fucking amazing if you ask me, now can someone answer why the government doesn't cash out the gold to get us out of our debt? (I already know the answer, just want to see if anyone else out there knows about $$ and don't google it! You fuckin cheaters Razz)

Btw...

8000(tons) * 1200(pounds in a ton) = 9600000 = 153600000.677(ounces) * 1600(price of gold) = $245760001083.20

So lets see who knows Smile

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BlUWUlF
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PostSubject: Re: Gold....   2/25/2012, 4:33 am

kyle there's 2000lbs in a ton

not sure about troy ounces, but they'd probably equate into whatever system a "tonne" is part of

if we sold the gold, our currency would have no base and even though we're out of debt our cash would be worthless (much like the russian roubles were so worthless stacks were given to children to use as building blocks)

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Kyle
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PostSubject: Re: Gold....   2/25/2012, 12:03 pm

2000... really? Wow... I was always told it was 1200 but I don't remember who told me lol....

Well I used an online calculator to go from tonnes to ounces

And yes you're correct Smile all the gold is what makes our paper money worth what it says it's worth

Also happened to germany after WWI when they owned other countries a shit load of money so they just printed a lot and eventually it was worth less then the paper it was written on lol

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alabama-boy
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PostSubject: Re: Gold....   2/25/2012, 5:51 pm

2k pounds in a ton dude

even if we did cash it, we'd be trillions in debt either way

also what steve said
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Kyle
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PostSubject: Re: Gold....   2/25/2012, 9:02 pm

Ya blu you're steve now

if we did cash it we could easily pay off our debt lol, but our money would be fuckin worthles we wouldn't be able to buy anything with US currency anymore we'd have to use canadian money or mexican money xD

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