Occupy Australia

'Solidarity, Unity & Respect'

JBinSydney


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Joined Oct 12 2011
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MALE
Sydney
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3 Comments

Reply JBinSydney
7:22 AM on October 19, 2011 
the 1% love it when the people have arguments among themselves. It takes the focus off them. Politics is a shell game to take your attention away from what is really going on. Passion mixed with naivety and idealism fuels the arguments that allow the 1% to continue to get away with what they do. Whatever man made "ism" floats your boat, above and beyond that we are all human race.
Reply eliapo
4:39 AM on October 14, 2011 
wow,they are in troble, bit then again the chinese now own them, is that correct?
Reply JBinSydney
9:01 AM on October 12, 2011 
Just did a bit of up to date research about the buying power of the US dollar. I am only assuming that the official figures are correct. Seeing that the US has historically gone on and off a gold standard I thought I'd do the math.

As we can see, the US has debt of approximately 14.8 Trillion dollars and is reportedly holding 8133.5 tonnes (261,498,097.5 troy ounces) of gold in reserve.
The current spot price of gold is about $US1690.00 per troy ounce.

From that we can work out that the present dollar value of their gold is $US441,931,784,700.00 (about 441 billion US dollars).

The dollar value of their debt is about 33.49 times the dollar value of their gold reserve.

If amount of debt they hold today ($14.8 Trillion) was backed fully by their gold reserve, that would mean that each paper $1US dollar would really only be worth about 2.9 cents.