The United States Public Debt placed in context to the World's Gold Supply

The "United States Public Debt" as it is officially known, is often in the Media called the "United States National Debt"

Data is gathered and numbers & the graph are automatically computed and plotted in real time , so this may take a while to load when internet traffic is heavy.

 

People usually have trouble comprehending the significance of the U.S. Public Debt in relation to the Gross Domestic Product (GDP), to which it is usually compared.

Rightly or wrongly, people do believe that they understand the value of gold. Below is a visual aid to help you see how much larger the U.S. Public Debt is compared to the value of "All of the Gold in the World". The calculation and data sources are now displayed below the graph.

 

How the calculations are made:

1. According to the United States Treasury, the official value of the U.S. Public Debt as of (the most recent date the U.S. Treasury has calculated the debt) is $17,690,033,596,105.56 ($ 17.69 Trillion). This is what is plotted above as "US Public Debt".

2. The price of gold, per Troy Ounce, is

3. According to the World Gold Council, the world trade group of gold producers, all the gold ever mined & accumulated by all people around the world as of the end of 2013 amounts to 175,000 metric tons (5,626,381,250 Troy Ounces), almost all of it is still in human hands. If formed into a cube, this would be a cube 68.41 feet (20.85 meters) on edge.

All the gold in human possession = = $7.17 Trillion.

The present day value of "All the gold in human possession" = (Price of gold) (All of the Gold in the World) = $1273.70 5,626,381,250 Troy Ounces = $7,166,321,798,125 ($ 7.17 Trillion). This is what is plotted above as "All the worlds gold".

So, how much is the present day liability of the US Public Debt compared to the value of "All of the Gold in the World"?

US Public Debt "Value of all of the Gold in the World" = $17,690,033,596,105.56 $7,166,321,798,125 = 2.47

So the liability of the US Public Debt is 2.47 times greater than the value of "All of the Gold in the World".

In other words, at this moment, "All of the Gold in the World" can only pay off 40.51% of the present US Public Debt.

4. According to the US Treasury, the U.S. Government claims to have 8,133.5 metric tons (245,262,897.04 Troy Ounces) of gold reserves.

The present day value of "The US Gold Reserves" = (Price of gold) (The number of ounces of Gold in the US Reserves) = $1273.70 245,262,897.04 Troy Ounces = $312,391,351,959.848 ($ 0.31 Trillion). This is what is plotted above as "US Gold Reserves".

Believe it or not, the U.S. Treasury does provide for people to make specific contributions to pay off the U.S. Public Debt. To see how  click here to go to the U.S. Treasury website and scroll all the way to the bottom..

To see why adding all of the world's silver to the U.S. Debt comparison does not make the debt look smaller, click here.

Related Links:

Modern Money Mechanics: A workbook on Bank Reserves and Deposit Expansion by the Federal Reserve Bank of Chicago

Talking Points on the Likely Consequences of Re-Establishment of a Gold Standard

$100 Trillion Dollar Solution

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