china 2 own 1 of every 500 oz of all known gold by 2012/1/1/?

china 2 own 1 of every 500 oz of all known gold by 2012/1/1/?

(IF EVERYONE ELSE WERE TO OWN AS MUCH GOLD AS CHINA MIGHT, THERE COULD BE ONLY 500 OWNERS)

total gold is about 160,000 tons.

china bought about 90 tons first quarter, 2011.

china to buy about 4 X 90 = about 360 tons in 2011?

360 36 0.00225 = 0.225% = 0.2% (rounding down) or about 1 of every 500 oz
------- = -----
160,000 16,000

At this pace China will own about 1/500th of all known gold at the end of 2011, assuming it has none at the beginning of 2011 and assuming any new gold found is accounted for by rounding down.

If the same pace were to continue, China could theoretically own all known gold after about 499 (500 - 1) more years, which would be about the year 2511.

http://buygoldansilverlong.blogspot.com/2011/05/china-may-buy-022-of-all-gold-just-this.html