And I was searching for that sig. Gee, that was a good one.
So, based on my calculation, here is the break down:
320,000 lb * 16 ounch/lb * 1700 (last closing price) = .....
8,704,000,000 USD or 8.7 billion USD.
So with this money you can buy Alcatel-Lucent + Ciena, but not even the BlackBerry maker RIM (11.39 Bil as the current market cap).
Hideyuki Toyotomi was the ruler in Senkouku Japan era. He rules from 1590 to 1598. According to the legend, he accumulated tons of gold in the Osaka castle as the allowance money for his concubine. A rock like gold weight 13600 両, and that is 13600 * 37.44 g = 509184 g = 509184 / 31.1035 g/ounce = 16370.6 ounce. And this equals to 16370.6 ounce * 1700 usd/ounce = 27,830,077 or 27.8 mil USD. Although there was no precise calculation, he has probably thousands of gold rocks like that in only one castle. That is more like > 27.8 billion in today's money in only one castle. That is huge.
So just another number crunching exercise for your entertainment:
* Investing $34000 usd to buy gold at price 1700 now equals to 20 ounces.
* Gold price projected at 1717 (only if it reaches this price) at Dec this year, and your gain is (1717-1700) * 20 ounce = 340 USD.
* And your ROI is 340 / 34000 = 1% ROI
* this is a great investment, just like buying a 2% GIC with guarantee money at the end of year.
