Watch Live: Congressional Hearing on IRS Scandal

Live Now on TheBlaze Radio: ‘The Buck Sexton Show’

Business

This Is The Gold Infographic to Rule All Gold Infographics

Jan. 15, 2013 2:54pm Becket Adams

As U.S. lawmakers continue to bumble along without any real solution for solving our nation’s fiscal crises, and as certain corners of academia flirt with ideas involving IOUs and $1 trillion-dollar coins, we thought it be fun to remind you that hard assets still exist — assets that no central planning committee can “create out of thin air,” as Zero Hedge puts it.

The following graph from the folks over at demoncracy.info tells you pretty much everything you always wanted to know about gold (but were afraid to ask):

Demoncracy.info Presents Everything You Always Wanted to Know About Gold

Courtesy demoncracy.info

Follow Becket Adams (@BecketAdams) on Twitter

Featured image courtesy Getty Images.

In CONTROL, Glenn Beck presents a passionate, fact-based case for guns that reveals why gun control isn’t really about controlling guns at all; it’s about controlling us. Find out more HERE.

Back to The Blaze »

Comments (45)

michael from Ga.
Posted on January 16, 2013 at 12:05pm
How may shots did it take to lose the Republc [1913]? 0. How may shots will it take to regain the Republic? 0. Deception lost it, Truth will regain it.

Report this comment
Log in to Reply Reply
BellaMia7
Posted on January 16, 2013 at 9:16am
Kim Kardashian is pregnant.

Report this comment
Log in to ReplyReply
- turkey13
  Posted on January 16, 2013 at 10:50am
  We won’t have to pay off our debts with gold! The US government is the biggest land ownner in the country. We own 88% of the land in Utah and I’m sure China would love to own it.Swap thay for a $ trillion bucks of debt. Swap the Grand Canyon for the debt of Japan. Sell off the state parks since we can’t even maintain them. Let folks buy Mt. Rushmore and change the heads to look like the new owners. We should be able to wipe out the whole $ 16 trillion debt.
  
  Report this comment
kw111
Posted on January 16, 2013 at 8:10am
Using gold to pay off our debt looks like this.

2204.6 (pounds in a tonne) x 8133.5 (tonnes the US owns) = (total pounds owned) 17,931,144
$1678.9 (per ounce as of this morning) X 14.5833 (troy ounces in a pound) = $24,439.90 per pound
$24,439.9 (line 2) x 17,931,144 (line 1) = $438,235,366,245.6 Value of gold that the US owns.

Total debt 16,400,000,000,000
Unfunded liabilities $86,800,000,000,000
Real total debt $103,200,000,000,000
$103,200,000,000,000 (real debt) divided by $438,235,366,245.6 (value of gold owned) = 297.1006 (multiple of gold owned to pay off debt)
I.e.: $1678.9 (1 oz) x 297.1006 (multiple) = $498,802.19 (value of each ounce to pay off debt)

Report this comment
Log in to ReplyReply
- Havok
  Posted on January 16, 2013 at 9:58am
  Yep, waiting for the inflation to kick in. The next decade is gonna suck.
  
  Report this comment
- Naram-Sin
  Posted on January 16, 2013 at 1:45pm
  The fact that there isn’t enough gold to pay our debts is why we can never go back to the gold standard. Of course the way the Democrats print money it will eventually become wourthless and we’ll be printing $100 trillion notes like Zimbabwe was, then we’ll be on the gold system, but we won’t be using US Money.
  
  Report this comment
thegreatcarnac
Posted on January 15, 2013 at 11:56pm
Don’t tell obama we have even that much gold……he will put a kerchief over his face and attempt to rob fort knox with an army brigade behind him. He will then hand it out with EBT cards.

Report this comment
Log in to Reply Reply
breiten
Posted on January 15, 2013 at 9:13pm
The Federal Reserve Bank of New York holds 540,000 Gold bars.

The Fed Reserve prints paper money to buy gold. USA is getting screwed.

Report this comment
Log in to ReplyReply
- stevetherealist
  Posted on January 16, 2013 at 12:12am
  thank god this group of suckers isn’t big enough to turn gold into the next dot com or housing bubble
  
  Report this comment
- jays
  Posted on January 16, 2013 at 1:07am
  And Japan prints money to buy U.S Treasuries
  
  This dog is about to catch it’s own tail
  
  Report this comment
Advection
Posted on January 15, 2013 at 7:50pm
What an obvious scam.

Report this comment
Log in to Reply Reply
noprisoners
Posted on January 15, 2013 at 7:43pm
Sign the petition to audit the gold stockpile!

https://petitions.whitehouse.gov/petition/perform-assayed-public-audit-all-treasurys-claimed-8100-tons-gold-and-net-swaps-loans-sales/rGyFTLwD

we petition the obama administration to:

Perform an assayed public audit of all the Treasury’s claimed 8,100 tons of gold and net of swaps, loans & sales.

As of 12/31/2012 the US Treasury claims to hold 261 million ounces of gold at Denver, Fort Knox, West Point and at the Federal Reserve Bank of New York. This bullion was last subjected to a full physical audit in 1953. The gold bars need to be assayed and weighed. Once the gold is verified the paper trail must be audited to determine who really owns the gold; i.e. how much has been loaned to bankers and dealers and sold or swapped to non-Treasury entities including foreign governments. The audit must include professional auditors outside of the Mint, Treasury, GAO, Inspector General and Federal Reserve system.

Report this comment
Log in to Reply Reply
1FreeVoice
Posted on January 15, 2013 at 7:22pm
I haven’t heard the obvious being talked about…. the US has seized private gold reserves in the past when times were really bad. They forced people to sell to the government at a loss (below market price). Why are people talking as if buying gold is the “safe” thing to do? I think things are going to be bad enough that the government goes back to that precedent, and decides they need to do it again.

Report this comment
Log in to ReplyReply
- Advection
  Posted on January 15, 2013 at 7:48pm
  FDR demanded that Americans surrender their gold to the federal government, but a massive number people didn’t. And that was in a world where a massive number of people were patriotic and moral.
  
  I don’t see this generation “leaning forward” for the grinning, fascist moron in the White House.
  
  Report this comment
Christian
Posted on January 15, 2013 at 6:26pm
Typo:

The following graph from the folks over at demoncracy.info tells you pretty much everything you always wanted to know about gold (but were afraid to ask):

It is DemonOcracy.

Report this comment
Log in to Reply Reply
jabetz.com
Posted on January 15, 2013 at 6:06pm
Can’t figure out how to PM here??? Please PM me, or leave another way to contact you.
Thanks!

Report this comment
Log in to Reply Reply
jabetz.com
Posted on January 15, 2013 at 5:53pm
would like to find out more, but not sure how to pm you??
please pm me or post a way to contact you.
Thanks

Report this comment
Log in to Reply Reply
PK_SEA
Posted on January 15, 2013 at 5:12pm
Does the US gov’t really have that much gold? I’m kind of on the side of the Ron Paul people who say we should audit Fort Knox.

Report this comment
Log in to ReplyReply
- Go Glenn
  Posted on January 15, 2013 at 5:59pm
  IF we had it, I am certain it has been sold, lost, or stolen by now.
  
  There is no way these idiots in our government could resist that much temptation.
  
  I wouldn’t believe them if they said my @ss was on fire unless I could smell the smoke and feel the heat.
  
  Report this comment
- taintso
  Posted on January 15, 2013 at 7:07pm
  Fort Knox has been empty for years, New York banks hold the gold and it belongs to foreign countries and private concerns.
  
  Report this comment
- Chuck Stein
  Posted on January 15, 2013 at 7:20pm
  If there has been no wrong doing, why not an audit of Fort Knox. I would also like some randomly-picked U.S. citizens to observe the audit. Talk about your “golden ticket”!
  
  Report this comment
- revelation2012
  Posted on January 15, 2013 at 11:25pm
  ‘they’ even got the GOLD that was stored in the WTC,,,
  
  Report this comment
TX_45_ACP
Posted on January 15, 2013 at 3:26pm
The US has that much gold? I’d like to see it. Thank you.

Report this comment
Log in to Reply Reply
Woggie
Posted on January 15, 2013 at 3:23pm
Wow! All that gold and it only equals HALF! of our federal debt.

Litterally, I did the math.

For crying out in the night!
When is amateur hour over in DC?

Report this comment
Log in to Reply Reply
The-Monk
Posted on January 15, 2013 at 3:18pm
The top 20 Countries total Gold held in weight is 27381.1 tonne.

What does this mean?

It means that all that Gold would be worth about 1.2 (one point 2) $1T Obama coins.

1 tonne = 2204.6 lbs
27381.1 x 2204.6 = 60364373.06 lbs
Gold is $1675.94 per oz.
$1675.94 x 12 = $20,111.28 per lb. (Price of Gold per pound)
$20,111.28 x 60364373.06 = $1,214,004,808,634.12
Or $1.2T, about 1.2 Obama coins.

Report this comment
Log in to ReplyReply
- Ruckus_Tom
  Posted on January 15, 2013 at 3:53pm
  … and $1675.94 x 16 = $26,815.04 per lb. too.
  
  Report this comment
- The-Monk
  Posted on January 15, 2013 at 3:58pm
  Hi Ruckus_Tom,
  
  I made that same mistake until a nice Blaze poster corrected me. I forget who it was.
  
  Gold is weighed in Troy ounces. 12 Troy ounces = 1 pound.
  
  Report this comment
- ThomasUSA
  Posted on January 15, 2013 at 4:01pm
  Did you use a regular ounce weight for gold? troy ounce = 1.09714286 ounces (avoirdupois)
  
  Report this comment
- VRW Conspirator
  Posted on January 15, 2013 at 4:07pm
  16oz in a Pound…not 12….just saying..your point is correct
  
  1 tonne = 2204.6 lbs
  27381.1 x 2204.6 = 60364373.06 lbs
  Gold is $1675.94 per oz.
  $1675.94 x 12 = $20,111.28 per lb. (Price of Gold per pound)
  (should be $26,527.04)
  $26527.04 x 60364373.06 = $1,601,288,138,737.54
  Or $1.6T, about 1.6 Obama coins.
  
  But that is just the “reserves” of the G-20 nations….
  But even all the gold mined in history by mankind (notice that 69.2% is tied up in jewelry, which means PRIVATE pockets, and Private Investments – do you think they will let that last once the SHTF) has a total weight of 166,500 tons, over 6X the current G-20 reserves…with a total value of only $9.735T….just over HALF of the US National Debt…and only 14% of the worlds total national debt…that of course does not take into account Medicare, Social Security, and all the pension funds and other governmental retirement and medical care systems…
  
  oh yeah…we are SCREWED!!!
  
  Report this comment
- INTHEBLINKOFAEYE
  Posted on January 15, 2013 at 4:07pm
  You should use 16 oz/lb not 12oz/lb. That would make it $26815.04 per pound. The artical does not say if it is U.S ton (2000 lb.) or metric tons (2204.6 lb.)
  
  Report this comment
- VRW Conspirator
  Posted on January 15, 2013 at 4:09pm
  dang stupid Trojans…WTH we doing measuring with their units for…they got squashed by Achilles and the Greeks…
  
  regardless…we are still SCREWED!!
  
  Report this comment
- The-Monk
  Posted on January 15, 2013 at 4:19pm
  Hi All….
  
  Here’s the link for where I got the total Gold weights for the 20 Countries.
  
  I should have posted it in the first post.
  
  http://www.theblaze.com/stories/guess-which-country-has-been-working-overtime-reinforcing-its-gold-holdings/
  
  Report this comment
- The-Monk
  Posted on January 15, 2013 at 4:21pm
  And here’s the difference between “ton” and “tonne”……
  
  tonne [tʌn]
  n
  (Mathematics & Measurements / Units) a unit of mass equal to 1000 kg or 2204.6 pounds Also called (not in technical use) metric ton
  
  Report this comment
- Ruckus_Tom
  Posted on January 15, 2013 at 4:42pm
  Kind of. One “ounce” = 0.911458333 troy ounces and one troy ounce = 1.09714286 “ounces”. There are 16 “ounces” in 1 “pound”. To confuse things further, there are only 12 troy ounces in 1 troy pound rather than 16 troy ounces.
  
  The stuff it “quotes” is the measure we’d find at the grocery store.
  
  It’s review time at work and I’m going to, jokingly, ask to be paid in gold coins at face value.
  
  Report this comment
- DZ-015
  Posted on January 15, 2013 at 5:08pm
  A Troy ounce and an Avoirdupois ounce are not equal. The 12 ounce Troy pound and the 16 ounce Avoirdupois pound are also not equal. There is no Troy ton that I am aware of, so you have to convert to short tons (2000 Avoirdupois pounds) or metric Tonnes (1000 Kilograms, as was done in the infographic.) The fun part is that the Troy ounce is larger than the Avoirdupois ounce, while the Troy pound is smaller than the Avoirdupois pound. There are about 13 1/6 Troy ounces in an Avoirdupois pound. Doing all these calculations actually makes metric look good in a way.
  
  Report this comment
- The-Monk
  Posted on January 15, 2013 at 5:33pm
  Hi DZ-015,
  
  Thanks…. my main point is that no matter how the math is done all the Gold from the top 20 Countries is worth less than two of the coins that Obama wants made.
  
  And that is very scary….. : (
  
  Report this comment
- Advection
  Posted on January 15, 2013 at 7:52pm
  You’re valuing gold in worthless Obama Dollars. The Dollar has already been inflated into (used) toilet paper.
  
  Report this comment
- The-Monk
  Posted on January 15, 2013 at 8:22pm
  @Advection,
  
  I was only trying to give a perspective on the amount of Gold it would take to = an Obama coin.
  
  And I think I did a pretty good job of it.
  
  Report this comment
- Advection
  Posted on January 15, 2013 at 8:43pm
  @MONK, you’re correct. Good job, soldier. Carry on…
  
  Report this comment
- lemkete
  Posted on January 15, 2013 at 10:00pm
  @ DZ-015 Actually there are not 13.16 troy ounces in an avoirdupois pound. There are 14.58 troy ounces in an avoirdupois pound. There are 13.16 avoirdupois ounces in a troy pound.
  
  Report this comment
afishfarted
Posted on January 15, 2013 at 3:16pm
ok, so give up 16 trillion to bay the debts owed, close the federal reserve, print money backed by the gold standard, and start all over with a sound dollar and sound economics. Too simple, huh

Report this comment
Log in to ReplyReply
- Silvertruth
  Posted on January 15, 2013 at 4:49pm
  Restarting the US Money system like this would basically drop the planet back like it got nuked. You cannot just reset your debt like this without massive ramifications, at least when you are as high up the food chain as the US is. Other countries have done this and it has kept them impoverished for decades. That would be minor compared to the US doing it. Basically you could kiss Western Culture good-bye.
  
  I’m not saying this won’t happen, just saying it’s ‘simple’ in the sense that cutting off your head will definitely cure that wounded foot you shot yourself in.
  
  The actual simple solution is:
  1. Cut up the credit card, balance the budget immediately- honoring all debts first, then spend what is left over in a realistic way.
  2. Draw down combat operations to just what is needed to keep national security. Withdraw from areas that are only advantageous hegemonistically, we can always move back in or around there later.
  3. Focus on R&D in military and no new acquisitions of materials and goods, use what you got guys.
  4. Raise retirement age for SS benefits, create a parallel individual retirement program that will kick in over 20 years.
  5. Require work for welfare from all able-bodied people that can do work. Make the welfare program self- sufficient from the labor pool available. Let joining the main workforce be a reward, not a punishment.
  6. Remove regulatory authority from the EPA and other agencies, leave them only enforcement.
  
  Report this comment
- Silvertruth
  Posted on January 15, 2013 at 5:03pm
  6. Remove all duplicate Executive and Legislative Branch departments, pare down to basics and enforce cooperation- no Czars or private fiefdoms anymore. Full transparency required by all Federal Agencies not dealing with National Security or Intelligence. No FoIA required, make it all public if it has a public impact.
  7. Give the States back their power by overturning Wickard v. Filburn, and the 17th Amendment
  
  Report this comment
johnpaulkuchtajr
Posted on January 15, 2013 at 3:14pm
Careful, Pilgrims, we may still see a gold sell-off if the whole mess goes in the dumpster.

Folks trying to cover losses elsewhere will be selling into a depressed market and drive the gold price down for some period of time. After the price stabilizes, that’s the time to buy.

“Remember benghazi and ALL the Traitors!”

Report this comment
Log in to ReplyReply
- DarthMims
  Posted on January 15, 2013 at 3:50pm
  That is simple economics, and you will never get anybody to believe it. Watch for China to start the selloff cascade.
  
  Report this comment

It appears that you have Javascript Disabled. Please enable Javascript in your browser preferences for a better user experience on TheBlaze. You can not comment without Javascript enabled.