Gold – How much has been mined?
Only approximately 142,000 tons of gold have mined throughout history.
Assuming the price of gold is $1,000 per ounce, the total amount of gold that has been mined would equal roughly $4.5 trillion.
The United States alone circulates or deposits over $7.6 trillion, suggesting that a return to the gold standard would not be feasible.
While most scholars agree a return to a gold standard is not feasible, a few gold standard advocates (such as many Libertarians and Objectivists), argue that a return to a gold standard system would ease inflation risks and limit government power.
