You remember what they say about assume, right.  Don’t do it because it’ll make an ass out of u and me.  Don’t assume is the rule, but sometimes you’ve just got to do it because it’s all they give you when you’re trying to solve problems. 

An assumption is like talking about The World Gold Council (WGC) figures on the world’s gold reserves.  Do you believe their numbers?  Many don’t.  Did NASA really land on the moon?  Is the Pope really Catholic? 

What else do you go by if you don’t believe what they tell you?  Where else do they give you figures on the world’s gold supply that might even seem remotely close to being believable?

That’s why sometimes for arguments sake you’ve just got to assume that what they’re telling you is correct.  I’m a lawyer, I should know.

So, for the purpose of this discussion, and assuming the posted World Gold Council figures have some degree of accuracy for international gold holdings, the top 40 countries and financial institutions are as follows: 

Top 40 according to World Gold Council’s latest rankings (as of September 2017)

RankCountry / OrganizationGold holdings (tonnage) Gold as % Forex
0Total Top 4031,721.1 
1United States8,133.5                           74.6
2Germany                                3,374.1                            69.1
3The IMF2,814.0                            N/A
5France2,435.9 65.0
6China1,842.6 2.4
10Netherlands 612.566.0
11India  557.85.8
12The ECB 504.824.0
13Turkey 482.918.3
14Taiwan 423.63.7
15Portugal 382.558.6
16Saudi Arabia 322.9 2.6
17United Kingdom310.3 7.2
20Kazakhstan 280.934.8
28Sweden125.7 8.0
29South Africa125.3 10.8
30Mexico 120.12.8
31Libya 116.66.6
33South Korea104.41.1
35The BIS  103.0N/A
36Poland103.0  3.8



Going back to my earlier HR 5404 article, my focus was on how we are going to back a new U.S. currency, not the present Federal Reserve Note known as the U.S. dollar that I believe is going to be replaced.  Precious metals analyst and adviser Gerrit Visser speaks in terms of gold backing the FRN as it presently exists in relation to the Federal Reserve Bank system, which I believe will ultimately be dismantled by President Trump.

Whichever U.S. currency we end up with the issue for discussion now is this:  Does America have enough gold to back the U.S. Dollar?  Visser says he doubts it but the only way to figure it out for sure is to do the math. 

Based upon the above figures, and again assuming they are accurate, as of September 2017, America had 8,133.5 MT of gold, which in troy ounce terms equals 261,482,021.84 troy ounces.

“Let’s now multiply that figure by today’s (November 21, 2018) market price of $1,222.00 per troy ounce which equals a little more than $319.5 billion USD,” Visser says.  “We will note that the United States has a published national debt on November 21, 2018 of $21.4 trillion, with a gross national product (2017) of $19.61 trillion USD and a gross domestic product (2017) of $19.39 trillion USD.”

Taking all of the above figures into consideration has the math falling obviously short.  “The U.S. only has a little more than $319.5 billion USD in gold value as part of its national reserves, which is intrinsic value or real value against a real asset,” Visser says. 

With this amount of gold at these metrics the U.S. could not pay off its debt even if it wanted to because it doesn’t have the reserves it needs to pay the debt and keep the economy going.  The numbers don’t lie.


And that’s doing the math using the stated government figures.  If we used Visser’s figures in the calculation, then we would have to add an additional $8 trillion dollars in circulation to the equation, which totally messes everything up.

“Let’s now take a look at the U.S. dollars in circulation, as stated by the U.S. Federal Reserve as of September 26th, 2018, which equals $1.69 trillion USD, which is grossly under-stated, probably deliberately,” Visser says.  “Please note that I totally dispute this Federal Reserve figure.  Because we are aware of $8 trillion USD, largely in $100 USD denomination, being printed illegally against gold bullion certificates that neither the Federal Reserve or the U.S. government (Treasury) own or hold legal title to, so I am going to use the known and accurate figures I have.  Our records indicate there actually being $9.69 trillion USD in circulation, not the $1.69 trillion USD as stated by the Federal Reserve Bank.”

Stunning if true.  That would mean there’s an extra $8 trillion USD in circulation in the world that is not recorded at the Federal Reserve Bank.  Why do you suppose that is?  Might it be to avoid liability at some future date when other creditors call on the debt?  Talk about inflation.

There are other ways for the ‘Fiat Money’ financial system to hide money in circulation as well.  “In addition to the above there are the Federal Reserve ‘(Secret) Trading Programs’ that generate an awful amount of money from thin air, so even the figures I have available to me ($9.69 trillion) may be grossly understated,” Visser says.


So back to the calculations between gold and the U.S. Dollar, using the November 21, 2018 figure of $1,222.00 as the price of one troy ounce of gold.  One troy ounce equals 31.104 grams.

This means on November 21, 2018 a $1 USD note would need to be backed by 0.02545335515 grams of gold, or, 0.00081834437074893 troy ounces for U.S. Dollars to truly be gold backed. 

Which means a $100 USD note would need to be backed by 2.545335515 grams of gold, or, 0.081834437074893 troy ounces. 

Such collateral backing with gold would ensure that the U.S. dollar is actually worth $1 U.S. dollar based upon the November 21, 2018 gold price of $1,222.00 per troy ounce.

Now let’s try using Visser’s stunning figure of $9.69 trillion USD being in circulation — and that is assuming that there isn’t more U.S. dollars in circulation that we don’t know about, and that is not accounting for U.S. dollars created by ‘(Secret) Trading Programs’ — “America would need a staggering 254,947,606,050.266 troy ounces which equates to $319.078754081 billion USD value of gold just to back their own currency, at today’s figures (November 21, 2018 gold price),” Visser says.

Based upon the above math, Visser believes the U.S. does have sufficient gold to back the U.S. Dollar, but barely, provided it is not totally used by the U.S. to pay off debt.  However, that leaves nothing extra to “collateralize” the printing of more U.S. Dollars in the future, so no sustainability or stability, and certainly no expansion of the U.S. economy after 2018.  “That scenario leaves nothing in reserve after 2018, and those very small figures of differential could be taken up by paying off, in part, the U.S. debt,” Visser says.


Either way, in a best case scenario the United States does not have enough gold to bring HR 5404 to life.  With insufficient amounts of precious metals available on the open market and there seemingly being no other nation or present financial institution capable of or willing to give to the U.S. the amount of precious metals it needs to back the U.S. Dollar, while keeping the U.S. economy humming and growing, will the U.S. government finally look inward, and review their own records of international treaties, agreements, and related documents, in an effort to understand who in the past financially backed the U.S. Dollar? 

And let me give you a hint, Uncle Sam:  It was at a time when America and her ‘Allies’ turned their backs on those they had just signed treaties with to gold back the national currencies of the world, including the U.S. Dollar.  The intent was to essentially gold back global currencies in an effort to rebuild the world in a coordinated effort that would actually benefit humanity, but of course this was not to be.  For the proposed global currency gold-backed financial system had to be destroyed, its history rewritten and memories buried, and its precious metals and ancillary historic accounts stolen by the Globalist-backed central bankers to be used against the development of mankind.