"... if M1 were taken as the basis of a new 100 percent gold standard monetary system in the U.S., gold's price would be anchored at $6,910 per ounce.
The same reasoning for Euroland gets us to €13,628 per ounce using Europe's M1 money supply."
read on -
http://goldsilver.com/article/13-re...rther-to-go/