The only way the $US could be worthless (as U probably already know), is if they're lying about the amount of gold they have....
I think the way U get to the $30,000/ounce level for gold is when U use GATA's numbers for the amount of gold that the FED actually holds in KNOX...
I don't know what that is...but let's say there was 30,000,000,000,000 $US in the world...
...and the US has 1,000,000,000 ounces of gold, (half the world's inventory)...
...then each ounce of gold backs $30,000 in a $-crisis...can't go lower.
Now, I believe that U really only have to back up FOREIGN debt in such a crisis...so I think the numbers are probably something like:
$15,000,000,000,000 ($15 trillion foreign reserves) backed by...
500,000,000 ounces of gold...(1/4 of world inventory)
Maybe when Ron Paul gets his audit wish, we'll find out how many ounces US has...and how high gold can really go!
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gildage
