[lbo-talk] What if the USG sold it's gold?

[Jordan Hayes]

>> The price of gold is over $1,100 per ounce, near its
>> all-time high in nominal dollars. At that price, the
>> Treasury's 261 million of ounces of gold would be worth
>> nearly $300 billion.

Wait, does Tom Frank believe that $300B -- if they could unload *all of 
it* -- would help a $1.4T deficit?  Let alone a $7T debt?

FWIW, yearly output of gold is about 2.5M oz; the size of the gold 
futures market is about 5M oz.

The current estimate is that there has only ever been about 5B oz mined.

/jordan