This was announced by the Ugandan government, $12 Trillion worth of gold 31 million tons. That is probably a lot more gold than exists in the world now.
I’m imagining they are exaggerating by 3 or 4 orders of magnitude. But then again, any gold is good gold.
And if the markets believed them, then the price of gold would have already fallen by a whole lot.
But it is it true, then Ugandans will be some of the richest people in the world – except of course that some tyrant somewhere will want to control all of it.