What's Up walter, funny how this pass.....

At today’s gold price of $1,730/oz, Canada’s value of gold in reserves is approximately US $189,110,694.20 (189.11 Million). When we compare that with Canada’s money supply in circulation according to the Bank of Canada, we have the following;
• M1 (cash outside banks + chequing accounts) is $611.7 Billion. Here the value of gold reserves representes .03% of M1.
• M2 (M1 + Savings accounts + money markets) is $1.047 Trillion. Here the value of gold reserves representes .018% of M2.
• M3 (M2 + large time deposits, long term deposits) is $1.461 Trillion. Here the value of gold reserves representes .013% of M3.

What has happened to Canada’s gold reserves? http://www.economicreason.com/usdoll...acked-by-gold/