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How much gold would it take to put US back on the gold standard?
WarnerAthey
All the Gold ever found in the history of the world isn't enough put the U.S. back on the Gold Standard at the current price of $1725, as of 11-18-2011.
Currently the U.S. has just over 8500 tonnes of gold in its possession. The Gold that is quoted in U.S. Dollars is approximately worth $450 Billion dollars.
The National Debt is now over $15 Trillion Dollars... at 10% of just the debt we need
$1.5 Trillion dollars worth of gold. We are currently at just over 2%.
The Bottom line is the value of gold must increase in value 3 times of what it is today or $5175.
The Problem is our national debt continues to grow
If we go back to a fractional gold reserve currency gold would triple again and who is going to provide the gold when your currency isn't wanted in the world because you ran your deficits through the roof. Now, nations will want their money back in gold, which would put the U.S. at a weekend stance of giving more of its reserve currency then it would want too. Circa 1971, that was the exact reason we came off of it....
France, under Charles De gaulle began requesting their money in gold as opposed to our Fiat currency. Causing a major run on the dollar at the time. As well as run on our reserves of gold.
JBthird Flint, MI
Wiki User
∙ 12y ago
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How much gold would you get for 5000 dollars?
At the current exchange rate - you would get approximately 3.5 ounces of gold.
Why did the US get rid of the gold standard?
The gold standard broke down during the 1930s as countries engaged in competitive devaluations. The gold standard worked fairly well from the 1870s until the start of World War I. During the war the government financed military expenses by printing money resulting in inflation, and price levels were high everywhere by the end of the war. Then, in an effort to encourage exports and domestic employment, countries started regularly devaluing their currencies. People lost confidence in the system and started to demand gold for their currency putting pressure on countries' gold reserves, and forcing them to suspend gold convertibility and by World War II, the gold standard was over.
How much money would 310 pounds of gold be worth?
Gold is now selling for $1,236.50 per oz. Take 310lbs X 16 oz= 4960 oz X $1236.50 = $6,133,040.00 or $6.133 million. However the standard for gold, silver, etc is in Troy oz and pounds. The answer therefore would be 75% X $6.133million =$ 4.60million. Whichever fits best for your answer.
How much is a one hundred dollar bill from the year 1938 worth?
The US government withdrew from the gold standard in 1934, therefore the later printing do not have the appreciable value of those printed during the gold standard. The actual value of the bill is dependent upon the condition of the bill.
How much would 10000 Chinese customs gold units in 1948 in us dollars today?
The problem with this conversion is that the United States abandoned the Gold Standard (gold backed currency) in 1932: Given that gold was worth 20.67 per troy in 1932, and; 888.671 mg of fine gold (a customs gold unit) is 8.5876 troy ounces, and; Each Chinese Customs Gold Unit is worth $8350.15 each in current US dollars. So 10,000 would be worth 83,500,000.00 US Dollars. (Pricing reflects fractional reserve system devaluation when compared to gold backed currency, and historical gold prices per troy)
How much was gold after the gold rush?
Plenty of gold was still left and still is there today. If you wanted to go gold panning or mining you would find gold, just not as much as you would find back then - in the gold rush. Add me in game center - irok220
How much is a standard mens gold wedding ring worth?
300
How much does a gold wedding band weigh?
They are ALL different. There is no standard weight or size.
How much does the gold coin weigh?
The 'standard' (London) bar weighs 400 troy ounces (12.4 kg or 438.9 ounces) . The standard gold bar held as gold reserves by central banks worldwide and traded among bullion dealers.
How much would 92 pounds of gold cost?
it would cost around 1.26 million dollars for that much gold
How much is a gold dime worth on the back it has a e?
US dimes were never made of gold.
How much a bar of gold weighs?
The 'standard' (London) bar weighs 400 troy ounces (12.4 kg or 438.9 ounces) . The standard gold bar held as gold reserves by central banks worldwide and traded among bullion dealers.
How much is a 18kgp necklace worth at a pawn shop?
The value of an 18k gold plated necklaces worth would depend on the current buy back price and the market in your area. Naturally, the price for a necklace that is gold plated will be less than a necklace that is solid gold.
How much would a colts trading card be worth if it were gold plated?
Depends on how much gold you plate it with.
How much would it be to convert yellow gold to white gold?
necklace yellow gold can convert to a white gold?
How much gold did the spanish send back to their homeland?
200 tons
How much gold can you buy in Dubai and bring back to the US?
As much as you can afford, but it has to be declared at customs.
