Gold Monitoring Thread £ GBP only

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[bobski]

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[Chronos]

Egypt instructed all of its airlines to avoid Iranian airspace for a three-hour period in the early morning on Thursday:

https://m.jpost.com/middle-east/iran-news/article-813765#google_vignette

[Chronos]

JPMorgan: 75% Of Global Carry Trades Have Been Unwound:

https://archive.is/wBj0v

[Chronos]

If This Is The Start Of A Crash, This Is How Goldman Is Trading It:

https://archive.is/BDjpR

[HerefordBullyun]

[BLOOMMAN101]

[Paul]

Gold back on the rise again to just over £1,900oz after Friday & Monday's "market wobbles" 

We'll will be nearing in on £1,950 again soon enough, now USA national debt has surpassed the $35 trillion  ($35,000,000,000,000) mark now 

That's an awful lot of zeros isn't it ?

Choo Choo ! 🚋🚆all aboard the gold train

Wonger was recently spotted in Tokyo Japan, flogging cheap yen if anyone wants some  

[ZRPMs]

1 hour ago, Paul said:

now USA national debt has surpassed the $35 trillion  ($35,000,000,000,000) mark now

I always thought that a Trillion was 10 to the power 18 not 12. It would seem I've been living in the past with my barbaric metal. It turns out in my head these governments still have a ways to go to get to 35 Trillion. They're only at the old 35 Billion.

Any Billionaires here. Loooser you're only a Milliardaire

Edited August 8 by ZRPMs

[Paul]

8 minutes ago, ZRPMs said:

I always thought that a Trillion was 10 to the power 18 not 12.

I just took it from the USA debt clock 

[ZRPMs]

6 minutes ago, Paul said:

I just took it from the USA debt clock 

Only messing about. The US and the UK use the short system so you're correct. Shame @HonestMoneyGoldSilver not here. I'm sure we'd have had a dissertation on the subject.

Edited August 8 by ZRPMs

[ZRPMs]

By the way, It's bonkers the amount our governments owe in our name. I'm just glad I have a small amount of the shiny stuff, I even have some silver. Shhhhhhh

[GrahamDiamond]

£2,000 oz by end of November

[ZRPMs]

1 minute ago, GrahamDiamond said:

£2,000 oz by end of November

To da moon 

[Paul]

Just some afternoon gold fun with numbers & using ChatGPT because im finished my work for today

• Our chief cashier says at 2.40 into the video 
• The BOE has (x9) vaults
• Holding collectively 400,000 LBMA "good delivery" bars, worth about £250billion 

Have a fiddle about with ChatGPT as our "data monkey/calculations geek"

Lets ask it some things:

 

Q1.  What is 250 billion UK pounds as a percentage of 35 trillion US dollars

A1. 250 billion UK pounds is approximately 0.91% of 35 trillion US dollars, assuming an exchange rate of 1.27 USD per GBP.

So not even with all that gold there it is not even 1% of the current USA national debt 

 

Q2. On the basis of a LBMA good delivery gold bar is 400oz of gold - how many good delivery bars could you buy with 35 trillion US dollars on the basis that gold is at $2414 a troy oz

A2.  So, you could buy approximately 36,274,509 LBMA good delivery gold bars with $35 trillion at a gold price of $2,414 per troy ounce.

 

Q3.  If I had 36,274,509 LBMA good delivery gold bars, how do this compare the nations of the world and the total gold holdings of all countries

A3. 

To give you a perspective on 36,274,509 LBMA (London Bullion Market Association) good delivery gold bars, let’s break down the numbers and compare them to global gold holdings.

1. Standard Gold Bar Specifications: An LBMA good delivery gold bar typically weighs about 400 troy ounces, or approximately 12.4 kilograms.

2. Total Weight Calculation:
   - Each bar: 12.4 kg
   - Total bars: 36,274,509
   - Total weight: 36,274,509 bars × 12.4 kg/bar = 449,593,092 kg

3. Convert to Metric Tons:
   - 1 metric ton = 1,000 kg
   - Total weight in metric tons: 449,593,092 kg / 1,000 = 449,593.092 metric tons

4.  Global Gold Holdings:
   - As of recent estimates, the total gold holdings of all countries amount to approximately 35,000 metric tons. This includes central bank reserves and other national holdings.

Comparison:
- Your 449,593.092 metric tons would be vastly more than the total gold holdings of all countries combined.

In fact, it’s about 12.8 times greater than the global total.

In summary, 36,274,509 LBMA good delivery gold bars represent an amount of gold far exceeding the combined official gold reserves of all the countries in the world.

 

Q4.  if gold was revalued to pay off its national debt of 35 trillion USD, based on the historically held USA gold reserves

A4. So, to pay off a $35 trillion national debt with the existing gold reserves of 261 millions oz, the price of gold would need to be approximately $134,000 per troy ounce.

 

 

Just goes to show, the these multi trillion numbers are absolutely incomprehensible in sheer size on paper, but when you view them against LBMA "good delivery" 400oz bars, it gives a little insight into the hole we are in with these fiat debt money systems we are in, and it only took just over 50 years since 1971 for it happen   

 

Carry on stacking folks, i think is the best advice 

[Gruff]

15 minutes ago, Paul said:

Just some afternoon gold fun with numbers & using ChatGPT because im finished my work for today

• Our chief cashier says at 2.40 into the video 
• The BOE has (x9) vaults
• Holding collectively 400,000 LBMA "good delivery" bars, worth about £250billion 

Have a fiddle about with ChatGPT as our "data monkey/calculations geek"

Lets ask it some things:

 

Q1.  What is 250 billion UK pounds as a percentage of 35 trillion US dollars

A1. 250 billion UK pounds is approximately 0.91% of 35 trillion US dollars, assuming an exchange rate of 1.27 USD per GBP.

So not even with all that gold there it is not even 1% of the current USA national debt 

 

Q2. On the basis of a LBMA good delivery gold bar is 400oz of gold - how many good delivery bars could you buy with 35 trillion US dollars on the basis that gold is at $2414 a troy oz

A2.  So, you could buy approximately 36,274,509 LBMA good delivery gold bars with $35 trillion at a gold price of $2,414 per troy ounce.

 

Q3.  If I had 36,274,509 LBMA good delivery gold bars, how do this compare the nations of the world and the total gold holdings of all countries

A3. 

To give you a perspective on 36,274,509 LBMA (London Bullion Market Association) good delivery gold bars, let’s break down the numbers and compare them to global gold holdings.

1. Standard Gold Bar Specifications: An LBMA good delivery gold bar typically weighs about 400 troy ounces, or approximately 12.4 kilograms.

2. Total Weight Calculation:
   - Each bar: 12.4 kg
   - Total bars: 36,274,509
   - Total weight: 36,274,509 bars × 12.4 kg/bar = 449,593,092 kg

3. Convert to Metric Tons:
   - 1 metric ton = 1,000 kg
   - Total weight in metric tons: 449,593,092 kg / 1,000 = 449,593.092 metric tons

4.  Global Gold Holdings:
   - As of recent estimates, the total gold holdings of all countries amount to approximately 35,000 metric tons. This includes central bank reserves and other national holdings.

Comparison:
- Your 449,593.092 metric tons would be vastly more than the total gold holdings of all countries combined.

In fact, it’s about 12.8 times greater than the global total.

In summary, 36,274,509 LBMA good delivery gold bars represent an amount of gold far exceeding the combined official gold reserves of all the countries in the world.

 

Q4.  if gold was revalued to pay off its national debt of 35 trillion USD, based on the historically held USA gold reserves

A4. So, to pay off a $35 trillion national debt with the existing gold reserves of 261 millions oz, the price of gold would need to be approximately $134,000 per troy ounce.

 

 

Just goes to show, the these multi trillion numbers are absolutely incomprehensible in sheer size on paper, but when you view them against LBMA "good delivery" 400oz bars, it gives a little insight into the hole we are in with these fiat debt money systems we are in, and it only took just over 50 years since 1971 for it happen   

 

Carry on stacking folks, i think is the best advice 

I agree with your logic, but we have to assume that those bars aren't all for the UK, they are for other countries. Then work out what the UK claims to hold for themselves against the UKs £2.x trillion in debt. That will give a more realistic figure. 
Or use the 8,800 tonnes or whatever is supposed to be held in Fort Know for the US. It'll be interesting to see what that would amount to per ounce

[HerefordBullyun]

1 minute ago, Gruff said:

I agree with your logic, but we have to assume that those bars aren't all for the UK, they are for other countries. Then work out what the UK claims to hold for themselves against the UKs £2.x trillion in debt. That will give a more realistic figure. 
Or use the 8,800 tonnes or whatever is supposed to be held in Fort Know for the US. It'll be interesting to see what that would amount to per ounce

Considering Brooon sold all our gold the fooooking clown

[Paul]

Just now, Gruff said:

I agree with your logic, but we have to assume that those bars aren't all for the UK, they are for other countries. Then work out what the UK claims to hold for themselves against the UKs £2.x trillion in debt. That will give a more realistic figure. 
Or use the 8,800 tonnes or whatever is supposed to be held in Fort Know for the US. It'll be interesting to see what that would amount to per ounce

Yeah, i know hardly any of it is actually ours, im just using the visible spectacle of all that gold/stuff of value in one place, how it pales in insignificance compared to the multi trillions of fiat funny money figures of debt being peddled around 

[Gruff]

3 minutes ago, HerefordBullyun said:

Considering Brooon sold all our gold the fooooking clown

He didn't sell it all. But he sold a lot. 395 tonnes he sold.
According to the t'interwebs we still have 310.29 tonnes 

[Paul]

2 minutes ago, HerefordBullyun said:

Considering Brooon sold all our gold the fooooking clown

McBroon oversaw the sale of 395 tonnes (or 12.7 million ounces) of gold between 1999 and 2002.

12.7 million ounces of gold at £1,900 per ounce, would be worth approximately £24.13 billion today.

£24.13 billion is approximately 1.21% of £2 trillion

So still wouldn't even be a drop in the bucket to balance the books today  

[HerefordBullyun]

2 minutes ago, Paul said:

 

So still wouldn't even be a drop in the bucket to balance the books today  

I dropped my golden mcnuggets in a bucket few times the army wasnt worth much though apart from a cold ronson!

[Paul]

3 minutes ago, HerefordBullyun said:

I dropped my golden mcnuggets in a bucket few times the army wasnt worth much though apart from a cold ronson!

Everyone's got to have a hobby i suppose

( . . . . . .still better than stacking silver though )

[James32]

1 hour ago, ZRPMs said:

small amount of the shiny stuff, I

Yeah small amount... listen to the Welsh Richard Branson 

[Gruff]

So to continue that thought.

Current UK debt pile - £2.72 trillion
Current gold holdings in troy ounces 9976055.15
GBP/t.oz - £272652.86

Edited August 8 by Gruff
Update

[Chronos]

1 hour ago, ZRPMs said:

By the way, It's bonkers the amount our governments owe in our name. I'm just glad I have a small amount of the shiny stuff, I even have some silver. Shhhhhhh

Reported for mentioning s****r.