Hacker News new | ask | show | jobs
by ak_111 249 days ago
I know, my point is that it is not directly backed by gold, but indirectly you can make the point there astronomical gold reserve comes into play if gold prices go insanely high.
1 comments

The US GDP in 2024 was 30+ trillion. A single trillion in gold (8133t) is not an astronomical amount of gold, even though it's more than any other owner. In fact, all the gold ever mined is only ~220000 tonnes, so US GDP is higher than all the gold above ground at $4000/oz troy.