richc
NES Member
Just an anecdotal story. Young couple moved in across the street in the fall. Very nice couple.
He's obviously quite smart and has a big job at his relatively young age. We were talking economy and impact of this economy on real estate and more. Out of the blue he starts talking about gold as he's talking about his Dad. I'm no expert but know my stuff.
He holds his hands out and makes a cube that's bigger than a 400 ounce bar of gold, and perhaps two of them. He says that's how much gold it takes to store $50K. I nicely explain to him that's not true. At today's spot prices $50K is about 30 ounces and show him how big that stack would be. No way he says. He's adamant it's a much larger volume.
Reminded me of a conversation between two guys arguing over the size of their dicks...
ETA: Just checked the math... $50K in gold would represent a cube of gold 1.43" on each side at today's prices...
ETA V2: $1 million dollars in gold at today's prices would fit in a 3.87" cube that would weigh about 40 pounds. I've eaten steaks bigger than that...
He's obviously quite smart and has a big job at his relatively young age. We were talking economy and impact of this economy on real estate and more. Out of the blue he starts talking about gold as he's talking about his Dad. I'm no expert but know my stuff.
He holds his hands out and makes a cube that's bigger than a 400 ounce bar of gold, and perhaps two of them. He says that's how much gold it takes to store $50K. I nicely explain to him that's not true. At today's spot prices $50K is about 30 ounces and show him how big that stack would be. No way he says. He's adamant it's a much larger volume.
Reminded me of a conversation between two guys arguing over the size of their dicks...
ETA: Just checked the math... $50K in gold would represent a cube of gold 1.43" on each side at today's prices...
ETA V2: $1 million dollars in gold at today's prices would fit in a 3.87" cube that would weigh about 40 pounds. I've eaten steaks bigger than that...
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