The United States Public Debt placed in context to the World's Gold & Silver Supplies

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The "amount of silver in the world" situation is more complicated than the gold case. While some gold is consumed industrially, non-recycled industrial gold usage & gold loss is tiny compared to gold stockpiling uses (bullion, coins & jewelry which is passed from generation to generation). So in the case of gold, "all of the gold ever mined" and "all the gold available in the world" are within a few percent of each other. The opposite is true for silver. Almost all of the silver produced in a given year is consumed in that same year. Of "all of the silver ever mined in human history", most has been lost in non-recyclable ways never to be seen again. But to make the comparison as favorable as possible for precious metal standards folks (and so heighten the illustration of why basing currency on precious metals cannot work anymore), below we will treat the case as if "all of the silver ever mined in human history" were available to pay off the debt. The bottom line is that estimates of "all of the silver ever mined in human history" run about 56 Billion Troy Ounces which would form a cube 55 meters on each edge. At the current silver price of $16.98 per Troy Ounce, the value of "all of the silver ever mined in human history" is only $0.95 Trillion and thus is small compared to the value of "All of the Gold in the World" and even smaller compared to the U.S. Public Debt.

The graph below is a visual aid to help you see how much larger the U.S. Public Debt is compared to the value of "All of the Gold & Silver in the World ever mined Combined"

Modern Money Mechanics: A workbook on Bank Reserves and Deposit Expansion by the Federal Reserve Bank of Chicago

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