• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

All The Gold In The World - The Definitive Infographic

Tyler Durden's picture




 

In the aftermath of the Chairman's painful waste of time "interactive" session, which addressed precisely zero of the relevant questions, we would like to ground readers with a real, hard, monetary equivalent, which unlike paper money, has retained its worth over the past 2000 years, and one which no central planning committee can create out of thin air at will. Gold. The chart below should put it all into perspective.

and for those who may have forgotten it, here is what happens when one can create paper out of thin air: America's (not even the entire world's) derivative universe. Just a tad more.... diluted.

Courtesy of Demonocracy

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Mon, 01/14/2013 - 20:37 | 3152658 Jendrzejczyk
Jendrzejczyk's picture

Everyone can choose specific timeframes to prove their statistical point.

Many focus on a slightly longer timeframe and draw their conclusions from that.

http://www.heraresearch.com/articles/bernanke_09_dollar_since_1913_cpi_d...

Tue, 01/15/2013 - 01:11 | 3153313 MeelionDollerBogus
MeelionDollerBogus's picture

Every single year taxes went up, food prices went up, gas prices went up, rent went up, wages went down on top which adds to the problem, in the last 5 years. Oil price declines to prior levels did not return gas prices to the same levels.

Mon, 01/14/2013 - 20:57 | 3152707 Deacon Frost
Deacon Frost's picture

‘jimmyjames’ needs to post links verifying his claims also. Rather than make ad hominem attacks on ‘akak’.

The US Inflation Calculator uses the latest US government CPI data (which are understated) released on December 14, 2012. The same basket of items that cost $20 in 2005 would be $23.58 or an annual rate of inflation change of 17.9%.

http://www.usinflationcalculator.com

First, low cost Chinese imports and some technology improvements have kept certain prices down.

Secondly, the CPI does not include sales price of homes. Instead, it calculates the monthly equivalent of owning a home, which it derives from rents. Therefore, the CPI gives a false reading. This is why it did not warn of asset inflation during the housing bubble of 2005.

The “core” CPI, which the Fed uses, does not include food and energy costs.

http://useconomy.about.com/od/economicindicators/p/CPI.htm

Mon, 01/14/2013 - 21:11 | 3152722 jimmyjames
jimmyjames's picture

‘jimmyjames’ needs to post links verifying his claims also

*************

Pull up a chart of housing prices and the price of oil or uraninium or wheat-

Wheat was trading at 4.39 in 08-- today its trading at 3.47-

So where is this huge loss in $ purchasing power?

http://www.indexmundi.com/commodities/?commodity=wheat&months=300

Mon, 01/14/2013 - 22:03 | 3152742 akak
akak's picture

More disingenuous and flat-out dishonest bullshit.

Are you sure that you don't work for the Fed?

For one thing, taking the short-term price spike in wheat in 2008 as indicative of its overall price in that year is anecdotal and specious cherry-picking at its worst --- just like the ridiculous crap that the gold haters pull when they try to compare the brief price spike in gold in 1980 to its price two or five years later as "proof" that gold is no inflation hedge.  It is the price TREND that matters, and the price trend for wheat, as for almost any commodity, has been UP for the last ten years, and more generally, up for the past 80 post-gold-standard years, inevitably mirroring the depreciation of the US dollar (and fiat currencies overall).

For another thing, none of us go to the grocery store and buy wheat; we buy foods MADE from wheat, and THOSE foods are all curiously MUCH higher in price than they were in 2008 --- by a factor of around 50%, from my own experience.

JimmyJames, why are you so determined to make such a complete and utter fool of yourself?

Mon, 01/14/2013 - 22:37 | 3152942 Bohm Squad
Bohm Squad's picture

And what was wheat trading for in 2000?  Four times less you say?!?!

 

Get a job, hippy.

 

http://www.mongabay.com/commodities/price-charts/price-of-wheat.html

Tue, 01/15/2013 - 01:00 | 3153295 MeelionDollerBogus
MeelionDollerBogus's picture

Are you fucking mad? Did you intend /sarc in a way that was meant to be hard to interpret?

EVERYTHING we can measure prices for, including what computers are made from, electronics of all sorts, has gone up in FIAT PRICE showing DE-VALUATION of that fiat currency (all of them). It's just LUCKY that some (not all) of us can leverage up the benefits of various cars, bikes, data-phones & computers to MAKE MONEY, somehow. SOME can do no better than play x-box games & send dirty pictures on over-priced iPhones and they are SEEING NO BENEFIT whatsoever from the "more powerful" electronics abilities.

And while OIL may be 90 now vs 150 in 2008 consider where jobs & wages went: now instead of a person having to work twice as hard to get the same gas with diminished wages, many have the extremely good luck to be so broke as to NEVER afford gas & never have to worry about it ever again. Wow, so lucky.

Mon, 01/14/2013 - 19:57 | 3152567 silverserfer
silverserfer's picture

sessinpo, hold paper then if you're too lazy to hold that heavy metal. I double dog dare you!

Mon, 01/14/2013 - 20:10 | 3152606 akak
akak's picture

 

I hate to present these logical arguments to gold bugs. I hold PMs myself as a percentage. But I'm here to prosper, not get emotionally tied to ANY investment and lose.

It's funny and ironic how all the paperbugs and pro-Establishment sheep (not calling you either, sessinpo) love to level the "emotionally attached to their investment" argument against holders of gold, when it is in fact THEY who are implicitly and explicitly, hysterically, idiotically, monomaniacally attached to their investment of choice, government-issued paper promises.

Mon, 01/14/2013 - 20:19 | 3152619 lasvegaspersona
lasvegaspersona's picture

Akak

I love fiat. I want all me debts to be owed in fiat. I know in the long run it will be easier to pay them off as fiat always depreciates. All gold is good for is saving in.

Mon, 01/14/2013 - 21:51 | 3152826 TheFourthStooge-ing
TheFourthStooge-ing's picture

sessinpo said:

And if the US should decided to go to a legitimate gold standard, you have the situation where logically, why should I hold pounds of metal (store), when I can carry light papers backed by gold?

In your hypothetical return to a gold standard, you shouldn't, and neither should anyone else placing such complete faith and trust in the honesty and integrity of the US government.

Nevertheless, you are likely to encounter people who don't share that trust. Should you ever wish to engage in commerce with such people, you'd first need to redeem your promise papers for physical gold.

Mon, 01/14/2013 - 18:40 | 3152368 TWSceptic
TWSceptic's picture

There is not that much to invest looking at the infographic.

Mon, 01/14/2013 - 18:43 | 3152381 Sudden Debt
Sudden Debt's picture

And that's just all the physical!!!

DID YOU KNOW THAT ALL THE PAPER GOLD, CAN BE PRINTED ON A PIECE OF PAPER THE SIZE OF A BUSINESS CARD???!!??

YES PAPER GOLD IS THAT RARE!!!!!!

Mon, 01/14/2013 - 18:41 | 3152370 Sudden Debt
Sudden Debt's picture

Jeez... next time I throw my gold coins away in the city sewers, I better think twice...

Mon, 01/14/2013 - 18:41 | 3152374 clagr
clagr's picture

Interesting that the US Treasury portion is worth less than a half trillion $. So 1/32 of our debt.

Mon, 01/14/2013 - 18:42 | 3152375 Hobbleknee
Hobbleknee's picture

How come all the ones and zeroes on my computer aren't worth as much as the ones and zeros on the bank's computer?

Mon, 01/14/2013 - 19:03 | 3152452 Poor Grogman
Poor Grogman's picture

Them's the rules old chap

Someone has to hold all those assets safe and sound from those criminals now don't they?

Mon, 01/14/2013 - 18:41 | 3152376 sessinpo
sessinpo's picture

So I ask, as I have asked many times before, why isn't gold much, much higher? I hold some PM's and I think everyone should. But considering what has been printed (trillions that we know of and how much do we not know of) and what will likely be printed, why isn't gold over $3k/oz. Logically it should be but it isn't.  Is that a message the market is telling people that most are missing?

Mon, 01/14/2013 - 18:43 | 3152387 Racer
Racer's picture

Message = Terrified

Mon, 01/14/2013 - 18:54 | 3152426 mumbo.jumbo
mumbo.jumbo's picture

"Is that a message the market is telling people that most are missing?"

what market?

oh, you mean the liebor bunch?

or the soon to default COMEX?

:D

Mon, 01/14/2013 - 19:39 | 3152530 BlueCheeseBandit
BlueCheeseBandit's picture

Markets only do the logical as a last resort.

Tue, 01/15/2013 - 00:55 | 3153282 MeelionDollerBogus
MeelionDollerBogus's picture

Markets are in disbelief about the devaluation of currencies & legal tender laws FORCE people to stick with currency which by nature removes some immediate-use trade-value of non-fiat currencies.

Mon, 01/14/2013 - 18:43 | 3152378 Seasmoke
Seasmoke's picture

$10,000 oz. Bitchez !

Mon, 01/14/2013 - 18:43 | 3152386 ricky2
ricky2's picture

Of course, this is what is "reported" that the US has. I WANT PROOF DAMMIT!!!!

Mon, 01/14/2013 - 19:05 | 3152456 Jendrzejczyk
Jendrzejczyk's picture

If the truth ever comes out, that bitch will freefall like WTC 7.

Mon, 01/14/2013 - 18:44 | 3152390 sitenine
sitenine's picture

As a side note: platinum within $5 of reaching parody again with gold. Would like to see ZH or SD discuss what this means.

Mon, 01/14/2013 - 18:52 | 3152418 Mr. Hudson
Mr. Hudson's picture

Gold was always $30 less an ounce than platinum.

Mon, 01/14/2013 - 18:59 | 3152437 walküre
walküre's picture

petty. means nothing. FIAT is worth less and less over time and eventually completely worth less.

Mon, 01/14/2013 - 19:06 | 3152458 Mr. Hudson
Mr. Hudson's picture

It "means nothing"? I was talking about platinum (a PM); not FIAT.

Mon, 01/14/2013 - 20:40 | 3152672 walküre
walküre's picture

When gold is worth North of $10,000 / oz and platinum is worth $12,000 / oz your $30 difference theory goes out the door.

Just an example.

From my pov this whole debate about the dollar value of the most precious asset is completely irrelevant.

The current paper dollar is just a figment of someone's imagination and will go down in history as just another attempt at creating currency on paper.

Mon, 01/14/2013 - 23:57 | 3153155 Acidtest Dummy
Acidtest Dummy's picture

Mr. Hudson,

     My theory of why Pt has declined against Au: Au is much more easily recognized than Pt. People who handle Au can identify it with their teeth, they are very familiar with Au's appearence and properties. Whereas Pt is another white metal, how does one know (on the street) that it is not Ag, Pd or even a cheeper white metal? And a big draw of Au is avoiding counterparty risk.

      So, when an easy assay test for Pt is developed, Pt conversion ratio will again excede Au's. (Freegold NOT withstanding) After all Pt is like 16 times less common than Au in the eath's crust.

    Anyway, the USA is toast until they/we PROSECUTE THE WAR CRIMINALS!

Tue, 01/15/2013 - 00:53 | 3153280 MeelionDollerBogus
MeelionDollerBogus's picture

For all the catalytic industrial uses for platinum, much more valuable over-all intrinsically than gold scraped & melted into various shapes & mixtures, platinum is far less useful as a coin & far more useful as a powder, wires or already pre-mixed or put into the machines we need it for. So little gold is used in each item that leaves plenty behind for coin-storage format.

Mon, 01/14/2013 - 18:59 | 3152434 krispkritter
krispkritter's picture

Freudian slip? Parody vs. parity? Good for a chuckle...

Mon, 01/14/2013 - 19:03 | 3152447 sitenine
sitenine's picture

Ha! Victim of spell check. Freudian indeed - thanks for laugh :-)

Mon, 01/14/2013 - 19:06 | 3152459 I need more cowbell
I need more cowbell's picture

Not much of a Freudian slip. Reminds me of a friend though. He overheard the term and turned and asked me what was a Fredian slip. I said, " you know, A slip of the tongue in which something that the speaker was subconsciously thinking about is substituted for the one that he or she meant to say."

He said, " Oh, yeah, I did that myself this morning. I was going to ask my wife to pass the salt, but said You fucking bitch, you've ruined my life".

Mon, 01/14/2013 - 19:58 | 3152575 Ookspay
Ookspay's picture

LMFAO!

Mon, 01/14/2013 - 20:27 | 3152642 Rusty Shorts
Rusty Shorts's picture

Bwuaaaaaahahahhahaaaaaa

Tue, 01/15/2013 - 03:26 | 3153427 resurger
resurger's picture

hahaha! +1

Mon, 01/14/2013 - 19:56 | 3152568 Moe Howard
Moe Howard's picture

Automobile production up?

Mon, 01/14/2013 - 21:06 | 3152391 FreeMktFisherMN
FreeMktFisherMN's picture

"Do you think gold is money?"- RP

"No" -Bernanke

"Why do central banks hold gold? Why don't they hold diamonds?"-RP

" It's tradition" -Bernanke

Mon, 01/14/2013 - 21:16 | 3152723 akak
akak's picture

 

" It's tradition" -Bernanke

So is the pathological dishonesty, and generally sociopathic nature, of central banksters.

Mon, 01/14/2013 - 18:46 | 3152394 Dre4dwolf
Dre4dwolf's picture

WoW gold and silver are under-valued.... currency must be in a bubble.

Mon, 01/14/2013 - 18:48 | 3152400 Mine Is Bigger
Mine Is Bigger's picture

What I want to know is how much gold is lost due to "boating accidents."

Mon, 01/14/2013 - 18:50 | 3152412 Sudden Debt
Sudden Debt's picture

Let's ask those who where on Titanic....strange that after that incident.... the economy wen down...

Mon, 01/14/2013 - 18:48 | 3152401 q99x2
q99x2's picture

The "Romney sucks," star of the Obamaphone video, lady is on the Alex Jones show today.

What kind of world is this? I'm certain it isn't the result of my imagination.

She's really pretty alright.

Mon, 01/14/2013 - 18:49 | 3152403 Mr. Hudson
Mr. Hudson's picture

What proof is there that the U.S. has 8,133 tonnes of gold?

Mon, 01/14/2013 - 18:49 | 3152404 Meat Hammer
Meat Hammer's picture

I hides my gold in my teef

Mon, 01/14/2013 - 19:09 | 3152463 Jendrzejczyk
Jendrzejczyk's picture

Kind of negates the whole reason for getting a "grill" in the first place.

 

Mon, 01/14/2013 - 18:49 | 3152409 Bansters-in-my-...
Bansters-in-my- feces's picture

Wheres the Rothschilds Gold Mountain Image...?

 

See Gold...

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