Are we running out of gold?

[Guest]

Hello bros,

I have been reading much on the www that gold is running out and that recent discovery of mines around the world are of a much smaller scale than that in the past.

What are your opinions on this issue?

Theoretically, gold can also be recovered from seawater just that it is not economically feasible

what do you think ?

 

[sixgun]

Bix Weir says there are millions of tonnes in the Grand Canyon. i used to watch him but after a while you find he doesn't say anything new. There are some old press cuttings from around the time of the beginning of the Federal Reserve Banking system. Bix makes out the Fed was started b/c of the vast quantity of gold - it sounds like cack to me.

There are accounts of very large amounts of old gold in the East - that China has got hold of some of this and their actual gold reserves are 80+ thousand tonnes - i have heard these tales from various sources - there may be truth here.

As larger miners are only breaking even and exploration is expensive the exploration has been cut back. As a result gold production is falling. Gold is saved - it is not used more  than very tiny amounts, so there is as much as ever in the vaults. Gold is not running out - it is piling up, it is simply mining production is falling - if the gold price went up then more exploration could be done and production would rise.

Yes you can extract gold from seawater - yes it is not economic at the current price.

[Wolves]

Things are manipulated so much you can not believe what you hear half the time, from whatever source it comes from. We have are running out of something all the time so we are told. 

https://binged.it/2IKdCxf