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Visualize: All The World's Gold

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Tue, 01/10/2012 - 22:55 | Link to Comment Ganja Jane
Ganja Jane's picture

The Vatican's gold???? Ooops, I mean the Rothschilds'....

Tue, 01/10/2012 - 22:09 | Link to Comment Elmer Fudd
Elmer Fudd's picture

Oh right, and that cerain family that sits at the top of the food chain owns no gold?

Tue, 01/10/2012 - 20:16 | Link to Comment tony bonn
tony bonn's picture

the us treasury or federal reserve has no gold - zilch. it has been squandered ever since the london gold pool started manipulating the price of gold in the 1960s....

there may be a few bars of 90% gold but even that is doubtful....

Tue, 01/10/2012 - 19:53 | Link to Comment thorgodofthunder
thorgodofthunder's picture

This post reads like a propoganda piece brought to you by Big Brother Gold.

 

Tue, 01/10/2012 - 19:37 | Link to Comment my puppy for prez
my puppy for prez's picture


Go to drudge and vote for RP!  (not rick perry! lol)

http://drudgereport.com/

Tue, 01/10/2012 - 18:13 | Link to Comment UP4Liberty
UP4Liberty's picture

Sit Tight and Be Right!

Tue, 01/10/2012 - 14:55 | Link to Comment FreudianSlip
FreudianSlip's picture

Need help with this math.

 

World's Gold, about $8.5 Trillion

 

But World's Derivatives Market, about $600 Trillion?

 

 

Tue, 01/10/2012 - 16:02 | Link to Comment OpenEyes
OpenEyes's picture

quite a bit goes missing in boating accidents

Tue, 01/10/2012 - 19:15 | Link to Comment rehypothecator
rehypothecator's picture

I don't think so much as $1 trillion of derivatives has been lost in boating accidents.  Most of it is still there, unfortunately.

Tue, 01/10/2012 - 14:46 | Link to Comment FreudianSlip
FreudianSlip's picture

Where's the forensic audit to verify our US gold reserves???

Tue, 01/10/2012 - 15:32 | Link to Comment masterinchancery
masterinchancery's picture

What, you don't trust our government?

Tue, 01/10/2012 - 14:33 | Link to Comment s2man
s2man's picture

I went to numberslueth.org and downloaded the fullsize version.  I'm gonna print it out at work and hang it in my cube.  May be a good conversation starter.

Tue, 01/10/2012 - 14:27 | Link to Comment 847328_3527
847328_3527's picture

China advising its people to buy gold "as an investment"....wonder what they are up to?

Tue, 01/10/2012 - 16:39 | Link to Comment pirea
pirea's picture

as an investment I don't know, but as a store of value you will be fine.

Tue, 01/10/2012 - 14:16 | Link to Comment NotApplicable
NotApplicable's picture

Porn? It's too blurry.

I can't fap to this!

Tue, 01/10/2012 - 13:52 | Link to Comment Joebloinvestor
Joebloinvestor's picture

They don't include the amount the military use.

You need gold to make a fission nuke.

The gold surrounds the "pit" and keeps it from oxidizing, insuring a successful "blast".

Tue, 01/10/2012 - 14:37 | Link to Comment s2man
s2man's picture

"Unaccounted", see chart. ;)

Tue, 01/10/2012 - 13:51 | Link to Comment savagegoose
savagegoose's picture

i wonder how many tons are dropped on the way back from the store ea year?

Tue, 01/10/2012 - 13:14 | Link to Comment student for life
student for life's picture

The people in India ( not  counting the central bank's gold) has an estimated 20,000 to 25,000 ton of gold. 

Tue, 01/10/2012 - 12:34 | Link to Comment Urban Redneck
Urban Redneck's picture

0.76 troy oz per person on earth - methinks they might go looking to the ZH readership when the masses decide they need to REDISTRIBUTE gold to make sure everyone receives their FAIR SHARE...

After they run out billionaires & bankers, of course....

Tue, 01/10/2012 - 12:28 | Link to Comment ag3nt0rang3
ag3nt0rang3's picture

The forex reserves numbers have surely been independently audited, right?

Tue, 01/10/2012 - 11:48 | Link to Comment PaperBear
PaperBear's picture

"12% industrial use" ?

But in what concerntration ? 99.9% or sub-0.00001% ?

Tue, 01/10/2012 - 11:45 | Link to Comment PaperBear
PaperBear's picture

What about silver ?

Tue, 01/10/2012 - 11:31 | Link to Comment laserjock
laserjock's picture

Don't forget the gold lost through the manufacture and eventual disposal of all those gold-plated audio/video adapters at Radio Shack.

Tue, 01/10/2012 - 11:15 | Link to Comment toadold
toadold's picture

"All the gold in California, is sitting in a bank in Beverly Hills in somebody else's name""

added verse:

"Most of the gold in New York City, is sitting on Disk or perhaps a tape, in turd Bernake's name""

 

Tue, 01/10/2012 - 13:44 | Link to Comment NotApplicable
NotApplicable's picture

It's tradition!

Tue, 01/10/2012 - 10:06 | Link to Comment Quinvarius
Quinvarius's picture

That 165k number is way too big.  We are talking about government gold backing government paper as the real issue.  And besides, there are not 165,000 tons of gold.  I don't care what ridiculous formula they used to come up with that.  You'd need a billion people with metal detectors and shovels to make even 1/4 of that available.

Tue, 01/10/2012 - 14:22 | Link to Comment NotApplicable
NotApplicable's picture

Did you notice that that number was given as a possible upper bound? In other words, it's the theoretical limit to a thought experiment, that is intentionally as large as the model could ever be expected to go.

It is not meant to reflect an unmeasurable reality, but rather it's limits within a range of certainty.

Tue, 01/10/2012 - 12:43 | Link to Comment Urban Redneck
Urban Redneck's picture

Regardless of the validity of the 165k number, given that the extraction rate for the gold is measued in GRAMS of gold per TON of dirt (and 1 ton is about 900,000 oz) - you'd need a billion people with millions of Komatsu sized trucks which would take decades & scores to manufacture- even if they took all the fictitous fiat wealth in the world and started builing heavy equipment factories tomorrow on a scale never seen in human history.  But it could solve the 10-20% unemployment problem...   

Tue, 01/10/2012 - 10:53 | Link to Comment francis_sawyer
francis_sawyer's picture

As if all that gold were stashed into 2 Olympic sized swimming pools on my property, I'd want to hand it over to somebody for 8.5 trillion FIAT NOTES...

Go fish!

 

Tue, 01/10/2012 - 21:20 | Link to Comment Wildcat711
Wildcat711's picture

You're a fool...I'd cash out a kiddie-pool sized lot for fiat and Scrooge McDuck the rest.

Tue, 01/10/2012 - 21:25 | Link to Comment Wildcat711
Wildcat711's picture

Although, +1 for the Stripes reference

Tue, 01/10/2012 - 10:43 | Link to Comment OutLookingIn
OutLookingIn's picture

Just reject a best guesstament, using data collected from around the world, outright?

Without citing any facts, sources, or reasoned argument in return, is a useless post.

The article is what it is - a best guesstament. Something you can take to the bank, other than your your poor "I don't care" attitude. Good luck with that!

Tue, 01/10/2012 - 12:31 | Link to Comment Quinvarius
Quinvarius's picture

You take guesses to the bank, huh? 

LOL.  Thanks for the useless comment.  I will stick to research.

Tue, 01/10/2012 - 11:08 | Link to Comment mess nonster
mess nonster's picture

I remember my best guesstament...I found it on the pillow in the Raddisson, Room 304, Sioux City, 1996. Ah, spearmint, my favorite!

Tue, 01/10/2012 - 10:05 | Link to Comment Backspin
Backspin's picture

I'd like to see a similar article on silver.

Tue, 01/10/2012 - 11:26 | Link to Comment TheSilverJournal
TheSilverJournal's picture

So would I. This is the best I can do for now:


Over the past 50 years, the demonetization of silver and the resulting under investment in mining has brought about a decrease in the silver supply . During the same period, industrial silver demand has risen rapidly, first with photographic film and then with the explosion in tech devices as the need for photographic film waned.

In the 1960?s, the US held about 4 billion ounces of silver. After the demonetization of silver, beginning in 1964 with most silver coins being changed out for a cheaper composite containing no silver and ending in 1970 when the 40% silver halves were no longer minted, the US offloaded its 4 billion ounces of silver onto the market over the next few decades. The extra 4 billion ounce supply being absorbed by the market lowered the silver price and gave a disincentive to invest in future silver production. Today, the US holds very little silver and silver mines are producing less silver than the market requires.

According to The Silver Institute, total mine production in 2010 was 735.9 million ounces and total industrial demand plus photography demand, most of which the silver is discarded after use, was 560.1 million ounces. Given these numbers, that leaves only 175.8 million new ounces available for jewelry, coins, silverware, and investment, which is not enough. The additional silver must come from silver already in existence, which was over 250 million ounces in 2010.

It is only a matter of time until counting on about 25% of total supply to come from existing silver will no longer suffice. Demand for silver is continually growing and set to grow even faster as the world becomes more dependent on technology and safe havens are sought after due to the debasement of currency. Higher prices are the only way that the necessary increases in silver mining production will occur.

It is important to note that increasing silver mining production is not an overnight process and will likely take several years to really ramp up mining production and boost silver supply. Only about 30% of silver comes from pure silver mines. The other 70% of silver is mined as a byproduct of other metals, which shows an additional hurdle to rapidly increasing silver mining.

TheSilverJournal.com

Tue, 01/10/2012 - 17:17 | Link to Comment Badabing
Badabing's picture

from the Secret of OZ

    The wizard of Oz was the first full length feature that used the then new technology of color film. In the book, Dorothy’s slippers were silver, but in the film industry, it’s a known fact, that red pops on the silver screen, so for the movie the “slippers” where transformed from silver to ruby red. By doing this, the bold color effect was achieved but what was lost, was the true meaning of the story. The silver slippers symbolized silver as a monetary metal, and that silver walked upon the yellow brick road which represents gold the other monetary metal. There is a saying “he who holds the gold makes the rules” but only if gold is the sole currency! During the time the Wizard of Oz was written, the United States was undergoing a great depression; this depression some believe was caused by the Federal Reserve, America’s central bank, but before I go into detail about the Fed. Let me explain more about the story.  Dorothy is uncontrollably whisked up by a tornado and sent to an unfamiliar place, the tornado was the turbulence in the economy and munchkin land was insecurity and the unknown direction the economy would take. The story is told through the eyes of Dorothy so Dorothy is you and me. and we are about to embark on a journey that will take us through a metaphorical world of economics. But before we go we are given silver slippers this will get us moving in a sense just like silver did for America when our forefathers stated in the constitution that only silver and gold will be used as currency. As we walk down the yellow brick road we first come across a scarecrow, and he is agriculture, he needs help getting back on his feet, when asked what is the problem he replies I have no brain, the farmer wants education and he joins us on this monetary road of gold to see the wizard in emerald city and that green colored city is significant in the story as well. One of the most obvious connections with the symbolism in the story is the tin man who represents industry. But he needs help also, he’s frozen in place, and the first thing he asks for is oil. You see its oil that keeps industry going without oil everything comes to a stop. Factory workers were like slaves subject to the whim of the captains of industry who need one thing for a happy work force and that’s a hart, but its hard to have a hart without the backing that funds industry, so the three head down the yellow brick road each wanting the wizard to give them something, agriculture wants education industry wants oil and the funds to make the laborer happy and Dorothy wants the American dream her home.             

Tue, 01/10/2012 - 10:00 | Link to Comment onebir
onebir's picture

WTF happened to indian jewelry demand in 2010? (I mean it nearly doubled, but why?)

Tue, 01/10/2012 - 16:50 | Link to Comment akak
akak's picture

Onebir, I am not in any way slamming you personally, but I am sick to death of hearing (notably from that vile, disingenuous, dishonest snake Jon Nadler) about the so-called "Indian jewelry demand", which is mostly in fact NOT a demand for mere baubles and ornamentation, but is fundamentally a demand for gold bullion in jewelry form, which just happens to be the preferred fabricated form for Indian gold holders.  To talk about "Indian jewelry demand" is to entirely miss the point, or in the case of Nadler, to cloud and obfuscate the point: that Indians are collectively the largest holders of GOLD BULLION in the world --- most of that jewelry is regarded by its Indian owners as savings held in gold, NOT as fashion-statements or women's baubles.

This is no different from somebody trying to laughably claim that there is a (relatively) strong "American coin demand".  No, the fact that most American gold owners hold that gold in the form of coins is fundamentally meaningless --- those coins are NOT being held as numismatic valuables, or as transactional currency (yet), they are in essence gold bullion, pure and simple.

Wed, 01/11/2012 - 06:41 | Link to Comment onebir
onebir's picture

akak - no offence taken. I was just commenting on the figure in the chart, without preconceptions - or much background information (aka knowledge :) ) on the subject. I think what you've said helps explain it, so thanks. :)

But I'm guessing real interest rates in India went sharply -ve around 2010, & they piled into "jewelry-bullion". If that's right, a sharp increase in real interest rates in India could slow down gold's bull trend. And they've got an inflation problem.

Anyone know what happened to Indian "jewelry"(-bullion) demand in 2011?

(I wish more of the discussion here was like this. :s)

 

 

Tue, 01/10/2012 - 18:54 | Link to Comment falun bong
falun bong's picture

Yes the Indian silver demand is for "money" not "adornment". They know and have always known that silver is money. The word for "silver" is the same as the word for "money" in plenty of languages ("argent" in French). India now also has the largest silver futures volume in the world, with much less worry about CME, CFTC, and other criminal enterprises stealing your funds. Non-Indians are not allowed to trade Indian silver futures but you can buy gold and silver futures now in Hong Kong, symbol HKG and HKS. Similarly fewer worries about outright theft compared to the US.

http://www.hkmerc.com/en/index.xml

Who would have thought that to get transparent free markets protected by regulation and the rule of law we would have to look to COMMUNIST CHINA?

Tue, 01/10/2012 - 14:12 | Link to Comment NotApplicable
NotApplicable's picture

India and China's CBs were buying, effectively putting a floor around $1100.

You don't need a weatherman to know which way the wind blows.

Tue, 01/10/2012 - 13:17 | Link to Comment Oquities
Oquities's picture

interesting that china and india have relatively small percentages of Forex reserves in gold, but india's population owns much, and china's govt has been encouraging public purchases.  let your population build reserves, then confiscate if needed. 

Tue, 01/10/2012 - 22:51 | Link to Comment Ganja Jane
Ganja Jane's picture

I pondered this very thing; why not? It happened in the US under Presidential Executive Order 6102. Something to consider when planning for when the SHTF.

Tue, 01/10/2012 - 12:51 | Link to Comment pirea
pirea's picture

because the indians are smart people, they never trust governments or a paper promiss

Tue, 01/10/2012 - 16:07 | Link to Comment Lord Koos
Lord Koos's picture

Inflation has been high in India as well.

Tue, 01/10/2012 - 21:57 | Link to Comment prole
prole's picture

But Indians don't have to care because they have got the precious.

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