dinarham Posted March 5, 2019 Report Share Posted March 5, 2019 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? 1 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted March 5, 2019 Report Share Posted March 5, 2019 (edited) At $1200.00 US that equates to $ 3,686,400,00. That's Billions not Quadrillion. pp Edited March 5, 2019 by pokerplayer Quote Link to comment Share on other sites More sharing options...
Karsten Posted March 5, 2019 Report Share Posted March 5, 2019 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 1 Quote Link to comment Share on other sites More sharing options...
cranman Posted March 5, 2019 Report Share Posted March 5, 2019 1 ton is 2000 lbs. 3 Quote Link to comment Share on other sites More sharing options...
Karsten Posted March 5, 2019 Report Share Posted March 5, 2019 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 2 4 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted March 5, 2019 Report Share Posted March 5, 2019 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 4 Quote Link to comment Share on other sites More sharing options...
cranman Posted March 5, 2019 Report Share Posted March 5, 2019 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! 2 Quote Link to comment Share on other sites More sharing options...
Markinsa Posted March 5, 2019 Report Share Posted March 5, 2019 Gold - Visualized in Bullion Bars 1 Ton of Gold The 1 ton of Gold is worth $64.3 Million dollars at $2000/oz. 5 Quote Link to comment Share on other sites More sharing options...
Synopsis Posted March 5, 2019 Report Share Posted March 5, 2019 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. 2 4 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted March 5, 2019 Report Share Posted March 5, 2019 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 2 3 Quote Link to comment Share on other sites More sharing options...
dinarham Posted March 5, 2019 Author Report Share Posted March 5, 2019 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 . 1 2 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted March 5, 2019 Report Share Posted March 5, 2019 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 3 12 Quote Link to comment Share on other sites More sharing options...
boosterbglee Posted March 5, 2019 Report Share Posted March 5, 2019 They have inept GOI! 2 3 Quote Link to comment Share on other sites More sharing options...
dinarham Posted March 5, 2019 Author Report Share Posted March 5, 2019 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 1 2 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted March 6, 2019 Report Share Posted March 6, 2019 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 3 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted March 6, 2019 Report Share Posted March 6, 2019 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 1 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted March 6, 2019 Report Share Posted March 6, 2019 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 2 Quote Link to comment Share on other sites More sharing options...
MEP01 Posted March 6, 2019 Report Share Posted March 6, 2019 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. 2 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted March 7, 2019 Report Share Posted March 7, 2019 On 3/4/2019 at 6:17 PM, dinarham said: How much is96 tons of gold worth? A Ton More Than 95 ... 1 6 Quote Link to comment Share on other sites More sharing options...
Early Retirement Posted March 7, 2019 Report Share Posted March 7, 2019 (edited) . Edited March 7, 2019 by Early Retirement Quote Link to comment Share on other sites More sharing options...
MFNGPTYLTD Posted March 8, 2019 Report Share Posted March 8, 2019 Well I thought it was trillion not billion ... so that's good and maybe great for us as well more the merrier Quote Link to comment Share on other sites More sharing options...
dinarham Posted March 12, 2019 Author Report Share Posted March 12, 2019 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 . 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted March 13, 2019 Report Share Posted March 13, 2019 It is the break even point on my wife C/C, and I wish I was . 1 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted March 15, 2019 Report Share Posted March 15, 2019 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. 1 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted April 5, 2019 Report Share Posted April 5, 2019 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 ... 3 Quote Link to comment Share on other sites More sharing options...
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