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What’s Behind the $700bin? November 16, 2008

Posted by tkcollier in Economy & Business.
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If US nominal GDP is about $14tn and the central government share of GDP is 20%, the roughly $700bn stock of banknotes represents just a single quarter’s tax receipts.

US has ~12x the amount of gold that China has, and more than any other country. The US’s gold reserves amount to something like 2/3 of its total reserves, and China’s are around 1%..

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