Based on $14.294 trillion in debt, and assuming the U.S. can legally prove it has 261.5 million ounces of gold, just to cover the debt, gold would need to be at almost U.S.$55,000/ounce.

But remember, this number does not provide insurance for the extotionate amount of derivatives out there or the unfunded liabilities of each level of government.

Assuming the derivative volume is 50 times the debt ($700 trillion) and the unfunded liabilities are in excess of $100 trillion, what value would that put on gold if the U.S. tries not to devalue the U.S.$?

Even in a fractional reserve system of 10 to 1, the value of gold would have to be in excess of $350,000/ounce in order to maintain the present "value?" of the U.S.$

Boggles the mind, imo.

Based on the news from Forbes that the U.S. will probably be back on some kind of gold standard by 2015, I wonder what they see as a reasonable $ value for the yellow metal, and what good is it to the system if it is still thought of as a "barberous relic".

Suggest "Little Timmy" needs to "fish or cut bait".

Good Luck to all!