Loading ...Question Regarding Gold
OK all you deep thinking Goldtenter’s. I have a question regarding gold. We know that central banks are the large players in the goldmarket and they have been buying gold in increasing amounts especially since the Basel 3 rules or guidelines had set the end of 2022 as the deadline for compliance. So central banks have been large buyers and anyone else who wanted to get out of fiat around the world have also been buying. My question is, WHO is selling actual physical gold? Can all of the marginal buying of physical gold be accounted for by the annual production of the world’s gold mining companies? Forgetting about all the paper trading that goes on at Comex and LME etc. that is really just noise that suppresses the price on any given day in gold and more so for silver, but who the hell is selling all that physical gold? Anyone knowledgeable in the amount of new gold produced annually by the world’s miners? We can assume that since unlike silver which is mostly used industrially, gold is just held by central banks and individuals to hold wealth. So how much of all fiat exists throughout the world in all currencies and how much gold has been produced since the beginning of time. A simple math equation if one has accurate measures of each(within reasonable estimations) should provide an approximate value per ton or ounce.
good question CM
here is a tidbit
The best estimate at the end of 2011 is that around 165,000 metric tons (or tonnes) have been mined in all of human history. That’s about 181,881 ordinary tons or 363,762,732 pounds, or 5,820,203,717 ordinary ounces.
so assume 6 Billion Ounces have been produced in History
Assume it is all Still in existance including in some industrial form and jewellery .
at $2,000 an ounce that is $12,000,000,000,000 … 12 Trillion Dollars
another tidbit
There is nearly $83 trillion in the total global money supply, $48.9 trillion of which is M1.Mar 16, 2023
ANOTHER
How much money is in the world per person?
What Is the World’s Total GDP Per Capita? According to the World Bank, the total world’s GDP per capita was $12,263 in 2021. With 7.9 billion people in the world in 2021, that amounts to a total global GDP of around $97 trillion.
more
Real assets and net worth; financial assets and liabilities held by households, governments, and nonfinancial corporations; and financial assets and liabilities held by financial corporations each grew from about four to more than five times GDP. Global net worth was $610 trillion at the end of 2021.Dec 15, 2022
Estimates seem to vary
Here is a Cool Chart of World net Worth
https://www.visualcapitalist.com/all-of-the-worlds-wealth-in-one-visualization/
Now you can do some math 🙂
Thanks for all that great info FGC. Makes you think with all that debt and fiat how much gold should be priced at. I still wonder though, other than for immediate liquidity issues needed to pay bills and service debts, why is anyone selling any gold and is the demand really just being met by the new production from the world’s gold mining companies?
Over the years, like many of us, I’ve run across lots of gold stories which may or may not be true, like is there gold in Fort Knox?
Where is the gold coming from, apart from known world production? There is gold that has not been repatriated (Venezuela), gold stolen from the Middle East (Libya) and from Ukraine, and gold smuggled by large gangs from South Africa. The Vatican holds an unknown large amount. There are stories of Nazi gold being found, of the existence of WW2 hidden Japanese gold, finding of the US Civil War gold, stories of gold in the Grand Canyon… Years ago I heard of gold being created in the lab using mercury in a nuclear reaction; gold has also been produced inside the Large Hadron Collider! I wonder how far this has advanced.
TPTB wants to keep fleecing us for as long as possible while transferring real wealth to themselves. Yes, the central banks are buying and who owns the central banks?