The Gordon Lightfoot song about the Edmund Fitzgerald carrying 26,000 tons
of iron ore makes for an interesting comparison. It is said all the gold in
the world would weigh just over 100,000 tons. (a final Jeopardy question a
while back). This is four Edmund Fitzgerald loads. At the current gold price
of $ 465 per oz., how would you think the entire worlds gold supply would
compare to our national debt?----- The value of the all the worlds gold
would not even pay one- fifth of our debt. Trouble coming?
Dixon

Dixon wrote:
The Gordon Lightfoot song about the Edmund Fitzgerald carrying 26,000 tons
of iron ore makes for an interesting comparison. It is said all the gold in
the world would weigh just over 100,000 tons. (a final Jeopardy question a
while back). This is four Edmund Fitzgerald loads. At the current gold price
of $ 465 per oz., how would you think the entire worlds gold supply would
compare to our national debt?----- The value of the all the worlds gold
would not even pay one- fifth of our debt. Trouble coming?
Dixon




Check my math guys, but I have the US national debt at
$7,939,664,349,738.56

so figure $465(price of gold) X(16/.083 (troy OZ to US oz))x2000
(pounds/ton) x 100,000 (tons of gold in the world = $17,927,710,843,373.49

Jim, wrote:
Dixon wrote:

The Gordon Lightfoot song about the Edmund Fitzgerald carrying 26,000
tons of iron ore makes for an interesting comparison. It is said all
the gold in the world would weigh just over 100,000 tons. (a final
Jeopardy question a while back). This is four Edmund Fitzgerald loads.
At the current gold price of $ 465 per oz., how would you think the
entire worlds gold supply would compare to our national debt?----- The
value of the all the worlds gold would not even pay one- fifth of our
debt. Trouble coming?
Dixon



Check my math guys, but I have the US national debt at
$7,939,664,349,738.56

so figure $465(price of gold) X(16/.083 (troy OZ to US *pounds*)x2000
(pounds/ton) x 100,000 (tons of gold in the world = $17,927,710,843,373.49

"Jim," wrote in message
...
Jim, wrote:
Dixon wrote:

The Gordon Lightfoot song about the Edmund Fitzgerald carrying 26,000
tons of iron ore makes for an interesting comparison. It is said all the
gold in the world would weigh just over 100,000 tons. (a final Jeopardy
question a while back). This is four Edmund Fitzgerald loads. At the
current gold price of $ 465 per oz., how would you think the entire
worlds gold supply would compare to our national debt?----- The value of
the all the worlds gold would not even pay one- fifth of our debt.
Trouble coming?
Dixon



Check my math guys, but I have the US national debt at
$7,939,664,349,738.56

so figure $465(price of gold) X(16/.083 (troy OZ to US *pounds*)x2000
(pounds/ton) x 100,000 (tons of gold in the world =
$17,927,710,843,373.49


100,000 tons x 2000 lbs./ ton = 200,000,000 lbs.= 2,916,666,560 troy oz.(1
lb. = 14.583332797487612 troy oz) x $465
=$1,356,249,995,000 or roughly 1.35 trillion. The nat debt is roughly 7.94
trillion. 7.94 trillion divided by 1.35 trillion is 5.88.

Dixon