domo Posted October 5, 2007 Share Posted October 5, 2007 Thats compares with $45TN global GDP Thats one trrillllion ounces of gold. Thats 31 103 476.8 metric tonnes of gold according to google. Thats 2 trillion xbox 360s Thats 1 875 000 000 average British houses Thats 34090x the amount Northern rock held in deposits its 1641x the cost of the Iraq war And its all built on top of only $9 trillion in contract market value (generational dynamics) source google: Ron Insana on CNBC $750 trillion Quote Link to comment Share on other sites More sharing options...
IDN Posted October 5, 2007 Share Posted October 5, 2007 Thats compares with $45TN global GDPThats one trrillllion ounces of gold. Thats 31 103 476.8 metric tonnes of gold according to google. Thats 2 trillion xbox 360s Thats 1 875 000 000 average British houses Thats 34090x the amount Northern rock held in deposits its 1641x the cost of the Iraq war And its all built on top of only $9 trillion in contract market value (generational dynamics) source google: Ron Insana on CNBC $750 trillion what's the significance of that? and how will it help affordable housing? Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted October 5, 2007 Share Posted October 5, 2007 Thats compares with $45TN global GDPThats one trrillllion ounces of gold. Thats 31 103 476.8 metric tonnes of gold according to google. Thats 2 trillion xbox 360s Thats 1 875 000 000 average British houses Thats 34090x the amount Northern rock held in deposits its 1641x the cost of the Iraq war And its all built on top of only $9 trillion in contract market value (generational dynamics) source google: Ron Insana on CNBC $750 trillion You are cgnao and I claim my free signed photo of a nuclear explosion. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 5, 2007 Share Posted October 5, 2007 what's the significance of that? and how will it help affordable housing? Its called leverage- This money has been created on the back of many duff CDOs- thats why there is a credit crisis- the losses could be unimaginable Quote Link to comment Share on other sites More sharing options...
dstars Posted October 5, 2007 Share Posted October 5, 2007 No probs. Just lower rates. Sorted. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted October 5, 2007 Share Posted October 5, 2007 That's what Jim Sinclair warns off all the time: the huuuuge mountain of derivatives is shaking and the nominal amounts become real ones. The only solution is liquidity to the max, see gold and silver go to the moon. Thats 31 103 476.8 metric tonnes of gold according to google. Only around 150 000 tonnes have ever been mined. It shows how grossly undervalued gold is at the moment. Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted October 5, 2007 Share Posted October 5, 2007 That's what Jim Sinclair warns off all the time: the huuuuge mountain of derivatives is shaking and the nominal amounts become real ones. The only solution is liquidity to the max, see gold and silver go to the moon.Only around 150 000 tonnes have ever been mined. It shows how grossly undervalued gold is at the moment. if they monetised that lot, we'd be able to stand on the piles of cash and place the gold and silver on the moon by hand. we are heading towards deflation. 50% certain. no guarantees Quote Link to comment Share on other sites More sharing options...
?...! Posted October 5, 2007 Share Posted October 5, 2007 Only around 150 000 tonnes have ever been mined. It shows how grossly undervalued gold is at the moment. Really? How so? Must an ounce of gold exist for every unit of capacity added to the economy? Or would that be stupid? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted October 5, 2007 Share Posted October 5, 2007 No probs. Just lower rates. Sorted. ...lower UK IR rates and sterling will collapse... Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted October 5, 2007 Share Posted October 5, 2007 Really? How so?Must an ounce of gold exist for every unit of capacity added to the economy? Or would that be stupid? Don't spoil it, I was enjoying that. I am going to pile into gold I think. If only because probably enough people will believe the above. Then I will get out too late and be left with less than I started with. Quote Link to comment Share on other sites More sharing options...
fribblet Posted October 5, 2007 Share Posted October 5, 2007 Ooh dear, that's quite a lot. Its worth remembering though that a chunk of that $750 trillion is in the gold and silver markets................ Quote Link to comment Share on other sites More sharing options...
nic Posted October 5, 2007 Share Posted October 5, 2007 The number on its own doesn't say anything at all. Without understanding derivatives, you all go "ooh what a big number, we're all doomed". Quite stupid, really. Quote Link to comment Share on other sites More sharing options...
domo Posted October 5, 2007 Author Share Posted October 5, 2007 if they monetised that lot, we'd be able to stand on the piles of cash and place the gold and silver on the moon by hand. job done Quote Link to comment Share on other sites More sharing options...
@contradevian Posted October 5, 2007 Share Posted October 5, 2007 Goldfinger: You and cgnao may be right. Harold (Goldfinger) Dobson reckons gold go up to $1500 an ounce in the five years (even $3000). Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted October 5, 2007 Share Posted October 5, 2007 That's what Jim Sinclair warns off all the time: the huuuuge mountain of derivatives is shaking and the nominal amounts become real ones. The only solution is liquidity to the max, see gold and silver go to the moon.Only around 150 000 tonnes have ever been mined. It shows how grossly undervalued gold is at the moment. Goldy. I want you to have ALL the gold, just to see that beaming little face of yours. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted October 5, 2007 Share Posted October 5, 2007 (edited) Really? How so?Must an ounce of gold exist for every unit of capacity added to the economy? Or would that be stupid? The point simply is if the USD was still gold-backed, the total amount of USD in the world would only be a very small fraction of the amount that finally possibly comes due from these options. In other words: no way to pay it. Total collapse. EDITed to add: Goldfinger: You and cgnao may be right. Harold (Goldfinger) Dobson reckons gold go up to $1500 an ounce in the five years (even $3000). Many people think this. But it is still a minority. Although even the big bullion banks start talking of gold at $1,000, so they seem to expect it themselves. Edited October 5, 2007 by Goldfinger Quote Link to comment Share on other sites More sharing options...
Compounded Posted October 5, 2007 Share Posted October 5, 2007 Yeah its rediculous. Shows what a mess the financial institutions are in. Gold is wealth that is not a financial institutions liability, if you have it in your greasy palm no institutions bankrupsy will make it disappear. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted October 5, 2007 Share Posted October 5, 2007 job done printing that note would create instant hyper inflation ;p Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.