Monday, September 21, 2009

Global Gold Reserves At $1.4T, US Reserves At Only $287B, GLD Only $38B

Below you will find an update on the current global world reserves, and the top 30 holders (countries and organizations).

With gold now at $1,001 an ounce, the top holder continues to be the Eurozone now with $391B worth of gold. The U.S. is 2nd with $287.4B.

The GLD ETF now has 1,086 tons, valued at $38.3B. Interestingly, this is down from August when they had 1,104 tons.

The importance of these values should be considered against the fact that world trades approximately $2T of dollars of Forex every single day. Also, the forex market, the largest and most active market in the world, conducts business of about  46 times greater than all of the futures markets combined.

In addition, the total value of derivatives out there is around $490T.

Given these values, it is possible that gold can be easily manipulated to fit whatever plan the governents and central bankers have.

Also, with regards to payment of its debt with gold reserves, the US can't do that much with only $288B in reserves, even if gold doubles or even goes 5X the current price. And that is assuming there is actually gold in Fort Knox.

(please click to enlarge)

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