https://www.coinnews.net/2015/05/01/us-treasury-owned-gold-at-261-4-million-ounces/ CoinNews delivers the latest World and US coin news Mon, 04 May 2015 18:36:11 +0000 hourly 1 https://wordpress.org/?v=7.1 https://www.coinnews.net/2015/05/01/us-treasury-owned-gold-at-261-4-million-ounces/#comment-128984 Mon, 04 May 2015 18:36:11 +0000 http://www.coinnews.net/?p=51858#comment-128984 If the country doesn’t use gold as money and the country does not settle accounts using gold and there are no plans to go back on a gold standard or Bretton-Woods type agreement…what’re we keeping gold in storage for (or any world government for that matter)? It seems so wasteful and stupid.

]]> https://www.coinnews.net/2015/05/01/us-treasury-owned-gold-at-261-4-million-ounces/#comment-128937 Mon, 04 May 2015 07:02:58 +0000 http://www.coinnews.net/?p=51858#comment-128937 Interesting that it is not valued at market price (~$1200/oz.) but at what may have been its acquisition cost (~$42/oz.). And that represents the late ’70s price, which still may not represent true cost since the 1933 revaluation from $20.67/oz. to $35.00/oz. certainly includes some of this gold. Unless they are LIFOing the gold and thus the current usage represents gold of much higher cost. Curious.

]]> https://www.coinnews.net/2015/05/01/us-treasury-owned-gold-at-261-4-million-ounces/#comment-128907 Sun, 03 May 2015 22:50:51 +0000 http://www.coinnews.net/?p=51858#comment-128907 about 10 times the market value of the gold.

]]> https://www.coinnews.net/2015/05/01/us-treasury-owned-gold-at-261-4-million-ounces/#comment-128663 Fri, 01 May 2015 22:14:32 +0000 http://www.coinnews.net/?p=51858#comment-128663 So how much do we owe China?

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