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  • Posted by Robbie53024 9 years, 4 months ago in reply to this comment.
    We really need a sarcasm emoticon.

    How about this ;-s Kinda like Dana Carvey squirrling up his mouth as Church Lady (Now, isn't that special?)
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  • Posted by edweaver 9 years, 4 months ago in reply to this comment.
    Okay you were being serious. I thought you knew me well enough to read my sarcasm in that comment. :) I won't assume in the future.
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  • Posted by Robbie53024 9 years, 4 months ago in reply to this comment.
    Generally Accepted Accounting Practices - what all accountants use as their set of standard practices.
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  • Posted by Zenphamy 9 years, 4 months ago
    How much of that government gold can I buy at 42.22/oz? I could use a lot of that.

    Has anyone seen any reports of the amount of gold the Fed has leased out?
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  • Posted by Zenphamy 9 years, 4 months ago
    How do they get away with the valuation of 42.22/oz. That's nuts or is it magic accounting?
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  • Posted by Robbie53024 9 years, 4 months ago in reply to this comment.
    mere coincidence, although it does point out that the dollar is now only 1/31.1 the value of what it was back in '73.
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  • Posted by Robbie53024 9 years, 4 months ago in reply to this comment.
    Correct. The statutory value of an ounce of gold has nothing to do with the spot price. Which probably doesn't matter, as the gov't has likely sold off all the reserves that we had (and the reserves of other nations held in trust as well - illegally - hoping that they could always replace it later).
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  • Posted by khalling 9 years, 4 months ago in reply to this comment.
    it's kinda odd that it corresponds almost precisely to price/gm. I am unaware that the Treasury/Fed prices it differently. Is there a cite for this? thanks
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  • Posted by frodo_b 9 years, 4 months ago
    Is it a mistake? The only price per ounce that I see in the article is $42.22 which is correct. That's not the market value of an ounce of gold, but that is the official value that the Treasury department uses.
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  • Posted by khalling 9 years, 4 months ago
    one thing that is glaring. "price per ounce" It should read "gram" It's a significant mistake that should be corrected in the article
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