How much gold needed to pay off debt: independent financial advice
Does the U.S. government have too much debt?
An article recently published in the Atlantic Magazine by Daniel Indiviglio said that US government debt priced in gold has not changed since 1971 when the dollar stopped being convertible into gold. In 1971 and today it takes about 800 million troy pounds (there are 12 troy ounces per a troy pound) of gold to pay off the debt.
Of course gold went up from the official price of $35 in 1971 to approximately $1,500 today, an increase of 42.8 times, or 9.43% annualized.
Read my post "U.S. government debt rating cut to negative".
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Investors should seek independent financial advice.