I'm not going to get into the BTC Gold debate here, but they discovered 31 MILLION tonnes of gold in Uganda, for reference. All the gold that has been mined in the world is 200,000 tonnes.
In 2017 -- It was estimated in 2017 that 190,040 tonnes of gold have been mined throughout history, with an additional 7,000 tonnes being mined in the following two years. Rough estimates put a figure of 54,000 tonnes of gold reserves still remaining below ground that could feasibly be excavated. If correct, these figures give a total of 244,040 tonnes of gold that will ever be available for use on Earth, based on current mining technology.
This doesn't even go into the amount of gold on large asteroids. Scarcity is a thing. If something becomes less scarce and the demand for it is the same it's value goes down. This may make the value of silver skyrocket but the value of gold has to plummet if it isn't highly manipulated (don't worry it is.)
In 2017 -- It was estimated in 2017 that 190,040 tonnes of gold have been mined throughout history, with an additional 7,000 tonnes being mined in the following two years. Rough estimates put a figure of 54,000 tonnes of gold reserves still remaining below ground that could feasibly be excavated. If correct, these figures give a total of 244,040 tonnes of gold that will ever be available for use on Earth, based on current mining technology.
This doesn't even go into the amount of gold on large asteroids. Scarcity is a thing. If something becomes less scarce and the demand for it is the same it's value goes down. This may make the value of silver skyrocket but the value of gold has to plummet if it isn't highly manipulated (don't worry it is.)
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