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Old     (sidekicknicholas)      Join Date: Mar 2007       08-02-2013, 2:38 PM Reply   
So I was reading the other day about Gold -

It has been estimated that all the gold mined by the end of 2011 totaled 171,300 tons
The USA has has ~ 8,135 tons of gold in its reserves (around ~5% of all Gold ever mined).
The total of the top 100 gold holding countries is 31,868 tons of Gold (USA has ~25%).


What if the USA sold off 100% of its gold at around $1400/oz. into the market place. If it is as simple as high school economics (all I know), a huge influx of supply means the price drops like crazy.... then they buy back their Gold an a vastly cheaper price, when it drops. Or is Gold rare enough that even adding that much into the trading system wouldn't effect price.

Clearly this probably wouldn't work or we would be doing it, but seeing the USA has such a substantial quantity of gold, could they manipulate the price.

.... idea popped into my head today, I just need someone to tell me I'm stupid for even thinking it so I can let it go,

Thanks

 
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