Jonathan Chait

Muammar Qadaffi, Gold Bug


Muammar Qadaffi has a lot of gold. How much? Michael Scherer pulls out the calculator:

The current price of gold is about $1,441 an ounce. A gold treasure worth $6.5 billion suggests Gaddafi holds something in the neighborhood of 4,510,756 ounces of gold at current prices--or 281,922 pounds of gold. By contrast, the Statue of Liberty weighs about 450,000 pounds, in copper and steel.

Somewhere, Glenn Beck is salivating.

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