This Crypto Currency advertising gimmick appeared for a single day yesterday in NYC's Central Park. It's a single 24kt solid gold casting weighing over 400 lbs and containing twelve million dollars worth of gold, cast in an ancient Swiss bell foundry.
![]()
![]()
Sent from my motorola one 5G using Tapatalk
Must be hollow as a cubic ft of gold weights around 1200# so a solid 400# cube would only be about 8 3/8" per side
Also, gold is currently $1830 per troy oz 400x12 =4,880 tr oz x $1830=$8,784,000. So it would take about 546.5# to make 12 million
The known amount of gold that has been mined is 187,000 metric tons and there are estimated 57,000 metric tons in unmined reserves. That is a total of 244,000 metric tons. A metric ton is 2204.62 lb so there are approx 538 million lbs of gold know to exist in the world. 1# is current worth 1830x12=$21,960. Lets call it 22K. $22,000x538,000,000#=$11,832,000,000,000,
That is 11 trillion 832 billion bucks.
As the US central bank only owns 8,134 metric tons (17,932,379#) of that gold, worth say 18 million lb x 22K per # =$396,000,000,000 or $ 396 billion
This is against a current debt of nearly 30 trillion, Which means about for every dollar of debt we have 1.32 cents in
Cypto currency is be backed only by faith
The US dollar is backed by faith and 1 1/3 pennies worth of real gold!
So much for going back to the gold standard.
Last edited: