Monetary Aggregates vs. Gold Reserves

According to this chart by Santiago Capital, the price of gold would have to be up to $53,000/oz. to fully back monetary aggregates (M0, M1, M2).

The current spot price of gold is $1330/oz.

http://www.jsmineset.com/wp-content/uploads/images/dfd8adffa923_8C00/clip_image002.jpg

"If" - Reflections On The Precious Metals

http://www.zerohedge.com/news/2013-04-26/if-reflections-precious-metals