It is now less cumbersome to carry gold than paper money
Have you ever heard the argument that we use paper money because of how heavy metal is? You wouldn’t want to lug around all of that heavy gold would you? Well that argument is pretty silly because there were banks that people used and checks were normal. But if you want to carry around your paper dollars or gold coins it’s now heavier and MUCH bulkier to carry around all that paper. Check out the numbers below. We’ll go over USD for this fun mathematical exercise. Each bill denomination is very close in size and weight.
6.890922 inches cubed for a stack of 100 dollar bills
0.06890922 inches cubed per dollar bill
each bill weights about 1 gram
0.1064 inches cubed for one troy oz gold
each troy oz gold = 31.1 grams
1.544060432 bills = same volume as 1 troy oz gold
31 bills = same weight as one troy oz gold
USD value 1913 = $20.67 per oz (creation of the private federal reserve central banks)
revalued 1934 to $35 per oz
gold standard ended 1971 $40+ per oz (beginning of petrodollar)
So up to this point it was a decent argument. As the dollar has plummeted in value this argument has become more and more ridiculous. Maybe that’s why you don’t hear people say it as much today. I have heard this argument recent enough and I wanted to see how legitimate it is anymore.
Today 1oz gold is around $4,000. It peaked around $5,600 before the Iran war, or conflict, or whatever that all is.
4,000 $1 bills = one troy oz gold value today
- 2,590 X space of one gold coin
- 128.6 X weight of one gold coin
200 $20 bills = one troy oz gold value today
- 129.5 X space of one gold coin
- 6.43 X weight of one gold coin
40 $100 bills = one troy oz gold value today
- 25.9 X space of one gold coin
- 1.29 X weight of one gold coin
Wish more people wanted to use gold and silver now and skip the fraudulent fiat paper.
Further information:
The Creature from Jeckyll Island: A Second Look at the Federal Reserve – book by G. Edward Griffin
Century of Enslavement: The History of the Federal Reserve - documentary by James Corbett