Friday, November 19, 2010

$53,957 in Circulation for Every Ounce of Gold

King World News - Blog


King World News obtained written permission from Mark J Lundeen to share this incredible table he put together utilizing information he gathered from Barron’s. James Turk added the actual number using M3 and it was shocking. This is a jaw dropping snapshot showing the amount of dollars in circulation per one ounce of gold at various points from 1945 to today. This table shown above is a must see for all King World News readers globally including Turk’s number using M3.

According to James Turk, the number is even more staggering when you use M3 because it captures all of the dollars in circulation, the total stock. It is the total amount of paper currency and total deposit currency within the banking system. And if you use M3, the actual number is $53,957 in circulation for every one ounce of gold. Turk commented, “That is even assuming the US actually possesses all of the gold it claims to own.”

James also added, “While the M3 number is frightening, even Mark’s calculation shows that gold is still undervalued.”

The gold and silver markets are in the process of moving towards fair value. Unless a fixed rate for gold is established, the reality is that a mania will develop and gold will grossly exceed fair value as it did in 1980.

What King World News readers globally need to realize is that is does not matter whether gold is trading at $1,300 or $1,400, the fact is that gold is dramatically undervalued by any metric, and everyone should be exchanging their fiat money for gold because of that fundamental undervaluation.

Eric King

KingWorldNews.com

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Sheeple



The Black Sheep tries to warn its friends with the truth it has seen, unfortunately herd mentality kicks in for the Sheeple, and they run in fear from the black sheep and keep to the safety of their flock.

Having tried to no avail to awaken his peers, the Black Sheep have no other choice but to unite with each other and escape the impending doom.

What color Sheep are you?

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