Copying my own post from the GNH board to here, my second home ...

Not sure whether this was mentioned before ... it's old news, so probably ... regardless, this might be of interest as it apparently includes some updated figures:

Paul Brodsky and Lee Quaintance, of QB Partners, have determined what they call the "shadow gold price".

This shadow price is calculated according to the "Bretton Woods formula for valuing money in a gold-exchange regime (i.e., the fixed value of a currency equals its monetary base divided by official gold holdings). Under this formula the exchange rate of the U.S. dollar to an ounce of gold would be about $8,250 presently, a figure that reflects the amount of monetary base inflation already engineered by the Fed. (The U.S. monetary base approximated $2.15 trillion in September and reported official U.S. gold holdings have remained relatively constant at about 8,133.5 metric tons or about 261.5 million ounces.)"