Post
Topic
Board Economics
Re: The United States is in Worse Shape Financially Than Russia
by
jbreher
on 04/11/2016, 19:32:46 UTC
Russia and China are buying up a lot of gold reserves, what is the U.S doing to strengthen it's fiat currency?

Russia: 1447 tonnes
China: 1800 tonnes
USA: 8133 tonnes

So it would seem that the US has sufficient reserves in proportion to money supply - at least as a ratio comparable to other actors. Whether or not any real currency should be fiat is another discussion entirely.

Of course, China's 1800 is just what they are admitting to. Speculation is that they may hold up to double that amount.

And nobody has seen USA's gold for over half-century. Is it still there?