It’s all about the Gold

Gold Blog 675 250

Gold Blog 675 250

I came across this article called “50 Random Facts About Gold”… figured it was worth sharing! Here are some of my favourites from this article!

Between A.D. 307 and 324, the worth of one pound of gold in Rome rose from 100,000 denarii (a Roman coin) to 300,000 denarii. By the middle of the fourth century, a pound of gold was worth 2,120,000,000 denarii—an early example of runaway inflation, which was partly responsible for the collapse of the Roman Empire.

he world’s largest stockpile of gold can be found five stories underground inside the Federal Reserve Bank of New York’s vault and it holds 25% of the world’s gold reserve (540,000 gold bars). While it contains more gold than Fort Knox, most of it belongs to foreign governments.

Gold is so pliable that it can be made into sewing thread. An ounce of gold can be stretched over 50 miles.

Only approximately 142,000 tons of gold have mined throughout history. Assuming the price of gold is $1,000 per ounce, the total amount of gold that has been mined would equal roughly $4.5 trillion. The United States alone circulates or deposits over $7.6 trillion, suggesting that a return to the gold standard would not be feasible. While most scholars agree a return to a gold standard is not feasible, a few gold standard advocates (such as many Libertarians and Objectivists), argue that a return to a gold standard system would ease inflation risks and limit government power.

  


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