Metals

The Gold PONZI Scheme: Where is the World’s Gold?

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from H2, via Various Documentaries:

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VIDEO: A must-see H2 Documentary ‘The SECRET World of Gold’ – A gold reserve is the gold held by a national central bank, intended as a store of value and as a guarantee to redeem promises to pay depositors, note holders, or trading peers, or to secure a currency.

It has been estimated that all the gold mined by the end of 2011 totalled 171,300 tonnes. At a price of US$1,500 per troy ounce, reached on 12 April 2013, one tonne of gold has a value of approximately US$48.2 million. The total value of all gold ever mined would exceed US$8.2 trillion at that valuation

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