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dinarham

How much is96 tons of gold worth?

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CBI stated that they hold 96 tons of gold  . 1 ton  = 32,000 ounces. 32 ouncesx 96 tons  =3,168,000,000 ounces . Multiply this number by $1200 per oz if you can . My pute doesn't go that far . My math is bad ,but are we into the quadrillion zone?

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At $1200.00 US that equates to $ 3,686,400,00. That's Billions not Quadrillion.

 

  pp

Edited by pokerplayer

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1 Ton = 200 pounds. 1 pound = 16 ounces, Price of Gold today $1287.00 per ounce so 1 pound of Gold was/is $20,592....1 ton or 200 pounds would be $4,118,400.00 and from there you need a super computer.

 

Karsten

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1 minute ago, cranman said:

1 ton is 2000 lbs.

 

 

Typo and you are right.....I will have another beer, a shot of Tequila and use Common Core next time

 

Karsten

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49 minutes ago, pokerplayer said:

At $1200.00 US that equates to $ 3,686,400,00. That's Billions not Quadrillion.

 

  pp

 

Went to XE and this is what it gave me in real time.

 

 

3,954,630,399.75USD
 
pp
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13 minutes ago, Karsten said:

 

 

Typo and you are right.....I will have another beer, a shot of Tequila and use Common Core next time

 

Karsten

My type of drinking math! 

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Maybe a little myth, er, math back ground.

 

Gold is typically priced in Troy oz. A Troy oz. is 480 grains. There are 7,000 grains per pound. So, there are 14.5833333. Troy oz. per pound.

 

Gold can be sold by weights of gram as well like in Iraq. There are 1,000 grams in a kilogram with 1,000 kilograms in a metric ton.

 

There are 453.593 grams per pound.

 

This implies 31.10352 grams per Troy oz.

 

This also implies 2.20462 pounds per kilogram with 2,204.62 pounds per metric ton.

 

So, there would need to be clarification on the actual ton (based on pound vs. metric ton) with also the actual oz. (based on pound vs. Troy).

 

Either way there is a nominal 10% difference that is mostly irrelevant for rough numbers for valuations.

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1 Ton of gold x $64,300,000 million dollars 

96 Tons of gold = $6,172,800,000 billion dollars.

 

Go Gold reserves 

Go foreign currency reserves 

Go $1:1

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Time for me to back to Mrs.Huffer's level 3 math class . So at approximately $63 mill per ton multipliedby 96 tons is approx 3.5 trillion . ??? Not bad for a country with a mere 40 million people .,plus are the other stuff they have ,like sweet crude . How can they not rv ? that's the question .

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3 minutes ago, dinarham said:

Time for me to back to Mrs.Huffer's level 3 math class . So at approximately $63 mill per ton multipliedby 96 tons is approx 3.5 trillion . ??? Not bad for a country with a mere 40 million people .,plus are the other stuff they have ,like sweet crude . How can they not rv ? that's the question .

96 tons of gold = $6,172,800,000 Billion Dollars

 

They have $62.5 billion dollars in foreign currency reserves 

They have Oil

They have natural gas

They have Sulfur 

They have phosphate 

They have cement 

They have Bauxite

They have Clays

They have Limestone 

They have Gypsum 

They have Bentonite

They have Salt

They have Kaolin 

They have Gravel

They have Sandstone 

They have standard Sand

 

Go Iraq

Go RV

Go $1:1

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I went down a rabbit hole and found that a gold cube worth 1 trillion dollars would be 10.5 meters on all sides , It's amazing the stuff one learns in the coarse of this adventure

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6 hours ago, Laid Back said:

96 tons of gold = $6,172,800,000 Billion Dollars

 

They have $62.5 billion dollars in foreign currency reserves 

They have Oil

They have natural gas

They have Sulfur 

They have phosphate 

They have cement 

They have Bauxite

They have Clays

They have Limestone 

They have Gypsum 

They have Bentonite

They have Salt

They have Kaolin 

They have Gravel

They have Sandstone 

They have standard Sand

 

Go Iraq

Go RV

Go $1:1

 

Great list but we need to add fresh water reserves as well.

 

  Thxs LB

 

   pp

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Not sure where the referenced article/info came from......so

 

Internationally when referencing Gold it is usually figured in Tonnes........not tons.......this would be the equivalent of a metric measure.....which will change your numbers.....

 

Ton and tonne are both units of measurement. In the United States, a ton is 2,000 pounds. Outside the United States, a ton can refer to a metric ton, which is 1,000 kilograms, or 2,204.6 pounds. Atonne is another word for metric ton.

 

CL

 

 

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16 hours ago, pokerplayer said:

 

Great list but we need to add fresh water reserves as well.

 

  Thxs LB

 

   pp

Thanks for your input my pp,

Euphrates and Tigris. Iraq is fed by two major rivers, the Tigris and the Euphrates, both of which originate outside of Iraq. These two rivers account for 98% of Iraq`s surface water supply. Their flow is therefore very vulnerable to dams and water diversions in Turkey, Syria and Iran.

11 minutes ago, coorslite21 said:

Not sure where the referenced article/info came from......so

 

Internationally when referencing Gold it is usually figured in Tonnes........not tons.......this would be the equivalent of a metric measure.....which will change your numbers.....

 

Ton and tonne are both units of measurement. In the United States, a ton is 2,000 pounds. Outside the United States, a ton can refer to a metric ton, which is 1,000 kilograms, or 2,204.6 pounds. Atonne is another word for metric ton.

 

CL

 

 

Interesting, thanks for the clarification coorslite21

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Don't forget, gold is measured in troy ounces... 12 troy oz to a troy pound. 2,430.56 troy pounds in a troy ton.

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On 3/4/2019 at 6:17 PM, dinarham said:

How much is96 tons of gold worth?

 

A Ton More Than 95 ...

 

:D  :D  :D 

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Well I thought it was trillion not billion ... so that's good and maybe great for us as well more the merrier 

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There has been alot of news about gold , and how much different countries hold in their reserves  Something is afoot here ,looking like it jives with Trumps desire for gold -backed currency ,the level playing field .

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Gotta love the shiney shiney.  Im always amazed at how brilliant it is when it comes out of the ground.The gold i dig up is precambrian so its been in the ground over 541 million years.

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On 3/15/2019 at 4:40 PM, SocalDinar said:

The gold i dig up is precambrian so its been in the ground over 541 million years.

 

So Are U Suggesting That We Bury Our Dinar And Wait A Jurassic Age Or Two ...  :o 

 

:D  :D  :D 

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