Thursday, November 19, 2009
Gold: We're #1!
With the value of the dollar plummeting faster than Barack Obama's approval ratings, folks everywhere are scrambling to hedge their exposure to paper money. Which generally means they're buying -- cue Gordon Liddy -- Gold.
Tyler Durden offers a view of gold holdings by country and, as anyone who's ever seen Goldfinger knows, we rule.
Tyler says that the combined official holdings for all countries totals up to around 30 thousand metric tons, which at today's spot value of $1,143 amount to a gajillion dollars.
Or $1.1 trillion using the current value of today's dollar. Which will be a gajillion soon.