Postgres schema having > 20,000 schemas

Can a single Postgres database contain more than 20,000 schemas? What are the implications of such a database design.

I was reading about postgres schemas here - http://www.postgresql.org/docs/8.2/static/ddl-schemas.html and I'm planning to create one schema per account in my multi-tenant Ruby on Rails app. Each schema would have a set of tables to store data of the relevant account.

Each user/schema for all the features we offer, could have 50-60 tables.

Can postgres handle all of this without any hiccups, provided I allocate a large EC2 instance to host the database server ?

By experience if any one faced trouble with such number of schemas in postgres, they could share and i thought i can get more guidance to avoid such pitfalls.