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How Many Wheelbarrows Are You Worth?

 

By Adrian Burridge   Printer Friendly Version

November 14, 2006
www.canadianinvestors.com

   

Some fun statistics.

According to the US Bureau of Engraving and Printing each bill in circulation weighs 1 gram. 

http://www.moneyfactory.gov/document.cfm/18/106

Every ounce contains 31.1 grams. 

Every pound contains 12 troy ounces. 

So if you are worth US$1 million dollars and you requested the currency in $1 dollar bills you would have 32,154 ounces or 2679 pounds of physical currency in your possession. 

According to this wheel barrow for sale at Canadian Tire - it can hold 210 pounds. 

http://www.canadiantire.ca/browse/product_detail.jsp?PRODUCT%3C%3Eprd_id=845524443289354&FOLDER%3C%3Efolder_id=1408474396672626&bmUID=1163184183279

This means that US$1 million dollars would weigh approximately 13 wheel barrows if you had to transport it via $1 dollar bills.   The largest currency in circulation in the US is the $100 dollar bill. 

Conversely if you held $1 million dollars in gold you would have 1592 ounces of gold (1,000,000 divided by $628.20) or approximately 133 pounds of gold which would be less than one half of one wheel barrow.

Now the US has M3 currency in circulation of approximately US$11 trillion dollars.  If we use the same $1 dollar bill calculation we would find that we have just over 100 million wheel barrels of US dollar bills – if the entire money supply was $1 dollar bills which obviously it is not.  This is also one wheel barrow of US dollar bills for every 3 men, women and children in the United States. 

Again it would be 1 million wheel barrows of M3 money supply if we use the $100 dollar bill as the bill in the calculation. 

Here is the math.

11,000,000,000,000 (11 trillion)

Divided by 100 (for the $100 dollar bill) = 110,000,000,000 grams.  

Divided by 31.1 to get the number of ounces = 3,536,977,491.96 ounces.

Divided by 12 to get the number of pounds =  294,748,124.3 pounds

Divided by 210 pounds to get the number of wheelbarrows = 1,403,562.50

Multiplied by 100 to get the number of wheelbarrows if we use the $1 bill instead of the $100 dollar bill. 

Buy all the gold you can carry.

How many wheel barrows are you worth?   

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Disclosure

Long Iamgold (IMG:T), Eldorado (ELD:T), Kinross, Kinross (K:T) warrants, Aur Resources (AUR:T), Northgate (NGX:T), Northgate warrants (NGX.wt:T), Rio Narcea (RNG:T), Nevsun (NSU:T), Golden Star (GSC:T), Agnico (AGE:T), Linear (LRR:T), Compton (CMT:T), Northern Orion (NNO:T), Cross Lake (CRN:T), Noble Metals (NMG:X), cash, Royal Bank (RY:T) T-Bill Fund, Royal Bank Precious Metals Fund, Forest and Marine (FME:X) debt and equity, gold, silver at the time of writing.