mick, ex..$12T? Dallas Fed chief estimates US$99 trillion as real federal debt and counting, and that's before a federal health-care boondoggle now looming.
In a speech at the Kennedy School of Government in February, he (Dallas Federal Reserve Bank Chairman Fisher) wrung his hands about "the very deep hole [our political leaders] have dug in incurring unfunded liabilities of retirement and health-care obligations" that "we at the Dallas Fed believe total over $99 trillion."
the professor said; If the reader sees this matter differently than I do and wishes to use ex.. 20 trillion rather than 3.5 trillion, then this will raise the model price of gold by a factor of 20/3.5 = 5.7.
Instead of getting $7,000 an ounce, the user of 20 trillion will get the value of gold $39,900 an ounce.
or use your trillions and You tell me if that is reasonable....