J
John Larkin
Guest
On Tue, 11 Nov 2008 09:33:49 -0800 (PST), Bret Cahill
<BretCahill@aol.com> wrote:
barrels at $50 per.
I sorta doubt that.
John
<BretCahill@aol.com> wrote:
Hmmm... that calculates to 2.7e14 dollars. $270 trillion. 5.4e12Gold will soon be worth $2K/oz.
...
What do you want gold for anyway? Other than
electronics and jewelry I cannot think of another
major demand where gold is "consumed".
A fast buck / future income.
David A. Smith
Gold's value is mostly symbolic, largely irrational. As an industrial
chemical, it would be worth a fraction of its current value.
So if you produce a lot more gold, you'll dilute its value in roughly
the proportion that you increase the amount in circulation. Same with
diamonds, which were once worth a few dollars a carat until the supply
was restricted.
You could make a heap of money transiently, if you had a modest-scale
way to extract and sell gold.
Such dreams of getting rich off gold is another indicator of its
irrational appeal. Other materials are more valuable and less
exploited.
Even geo exploitation of "useful" materials like coal is often a
dubious way to make money.
Where would you rather live? Netherlands where they don't even have
land? Or Iraq where if the oil wealth was distributed on a per head
basis, every man woman and child is or will soon be worth over $10
million?
barrels at $50 per.
I sorta doubt that.
John