MONETARY SYSTEM
January 2004.
US DOLLARS
The total amount of US Dollar denominated
banknotes that are circulating or deposited (M1) is about 1,287 billions.
The total amount of US Dollars
circulating (M3), credit money included, is approximately 8,807 billions.
Federal Reserve's fine gold reserve
amounts to 8,149 tons.
The price of fine gold is of 14.4312 US
Dollars par gram, equal to 409.1177 US Dollars par ounce. (From July 2003,
gold's value has increased 11.5 percentage points.)
Federal Reserve's fine gold reserve is
worth 117.6 billions of US Dollars (8,149 tons multiplied for 14.4312 US
Dollars par gram).
Therefore, the guarantee's (gold
reserve) value is equal to the 9.1375 per cent of the banknotes denominated in
US Dollars and to the 1.3353 per cent of the US Dollars circulating.
The Banknotes denominated in Euro are
approximately 425 billions (M1).
The Euro circulating, credit money
included (M3), is approximately 6,134 billions.
The fine gold reserves of the European
Central Bank amount to 9,404 tons.
Fine gold's price is 11.569 Euro par
gram, equal to 327.9764 Euro par ounce.
The fine gold reserves of the European
Central Bank are worth 108.8 billions of Euro.
Therefore, the guarantee's (gold
reserve) value is equal to the 25.6 per cent of the banknotes denominated in
Euro and to the 1.773 per cent of the Euro circulating.
The tickets denominated in Dhana are 150
billions. Each Dhana is guaranteed by a nominal value of 25 Euro in
enterprise's capitals.
The value of
its guarantee is equal to the 100 per cent of the emitted Dhana.