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Silver Stock Report "...Thus, the world is creating new money at about a rate nearly 100 times faster than the world's value of new gold."(6/05/07)

ReportEnergy
TitleNew Gold vs New Dollars
Quote"See, big money managers simply don't know the numbers! They also probably fail to account for the value of that new gold. Comparing dollar for dollar, it compares like this:

$1300 billion of new money printed.

$54 billion dollars worth of new gold mined, at $675/oz.

So, the U.S. is actually creating new paper money at a rate 24 times as much as new gold. (1300 / 54 = 24!)And of course, this is hardly a fair comparison. I'm comparing U.S. dollars to world gold production. We should compare total world paper money creation rates, to world gold mining rates. But that's a lot of work, and I don't know if I can source it all out. My well researched guess is that the U.S. dollar is only about 1/4 of the world total increase of paper money. (It is widely admitted that other nations are now printing up money even faster than the U.S.!) So, let's multiply by a factor of 4.

$1,300 x 4 / 54 = 96!

Thus, the world is creating new money at about a rate nearly 100 times faster than the world's value of new gold."(6/05/07)