United State first printed paper US currency in 1862 to make up for the shortage of coins and to finance the Civil War. From 1862 till 2008, it's about 146 years. The total amount of money printed by US is close to $900billion. On average, $6billion is added every year. But from Sep 08 to Jan 09, The total amount of monetary basse hit $1.8trillion. Within 4 months, the monetary base doubled.
From 1862 to Sep 2008, 146years-$900billion
From Sep 08 to Jan 09, 4months-$900billion (By right it should take another 146years before it hit $900billion. It should be by 2154)
The total public debt that US is having as of 31st Dec 2010 is about $14.03trillions. Amount of Gold left in United States Bullion Depository is 147.4million troy ounces.
Debt is increasing, amount of gold declining.
$14,000,000,000,000-147400000oz
Ideally, $94979-1oz
Now, $1362-1oz (70times difference)
What's next?? Hahaha..
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