The article takes the simplistic approach by using the spot price of platinum. A more realistic approach to this fantasy scenario would take account of the increased price of platinum after monetization.
>Such a coin would weigh 42,778,918 pounds -- the equivalent of nearly seven Saturn V rockets -- and occupy 31,947 cubic feet.
>Data crunchers and precious metals infographic makers, Visual Capitalist, published in 2013 that a total of 9,400 tonnes of platinum had been mined up to that date. Since then we will round number this figure to 10,000 metric tonnes or just over 321 million ounces for those keeping track.
>Oh, and by the way, they even gave us a visual of the aforementioned all-time platinum mined cube claim which back in 2013 was about 7.2 meters long, comprehensive, and tall. Today that would be about 7.7 meters on all sides.
Also consider that the US has roughly 31T in debt, plus other future obligations to fund.
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[ 3.2 ms ] story [ 8.3 ms ] thread>Such a coin would weigh 42,778,918 pounds -- the equivalent of nearly seven Saturn V rockets -- and occupy 31,947 cubic feet.
Converts to 19,404.19 metric tons
https://sdbullion.com/blog/how-much-platinum-is-in-the-world
>Data crunchers and precious metals infographic makers, Visual Capitalist, published in 2013 that a total of 9,400 tonnes of platinum had been mined up to that date. Since then we will round number this figure to 10,000 metric tonnes or just over 321 million ounces for those keeping track.
>Oh, and by the way, they even gave us a visual of the aforementioned all-time platinum mined cube claim which back in 2013 was about 7.2 meters long, comprehensive, and tall. Today that would be about 7.7 meters on all sides.
Also consider that the US has roughly 31T in debt, plus other future obligations to fund.