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So, Where is the Gold? (2/9/2014)

By belangp :

Some comments on the small portion of the gold market we "see" and a discussion of the impact of the much bigger market we do not "see".


http://youtu.be/GAoSj3pyEOw



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You want gold?

There are still 10s of thousands of bars of gold bullion inside Victorio Peak, on the White Sands Missile Range, and no one knows better than I.
http://www.keepandshare.com/doc19/view.php?id=3739&da=y

Cyril's picture

Cool ! When can I come for the pick up?

Cool !

When can I come for the pick up? Which time would work best?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I know where mine is. ;)

Bingo! no one person has any idea where the bulk of metal is.
On top of that, I don't personally believe anyone actually knows how much has been mined throughout history, even recent history. Five billion ounces could be billions off the mark.
His closing statement is eerily insightful.

your statement is much more concise than mine. ; )

thanks cyril for posting.. I love stuff like this.
but...

I have a problem with his first statements, his premise... it's just chock full of questionable assumptions.

Throughout History there have been 5.1 billion ounces of gold brought out of the mines of the world.

(HOW can you possibly arrive at this TOTAL... IF, as you next say:)

records dating back BEFORE 1850 are fairly SCARCE and unreliable

(this next statement's percentage then, is based upon the PRESUMPTION of the first)

a full 90% of this gold has been mined since then.

(ok, so you have the records of mining production since 1850, and then extrapolated from there.)

and so the 5.1 billion ounce number is a fairly reliable estimate of the total...

(really?)
---
Any cursory study of historical/ancient texts are replete with references to the importance and desire of gold by MANY cultures, Egyptian, Asian, Indian, Greek, Roman, Jewish etc.
The 'fact' is, WE CAN'T KNOW how 'much' gold was mined and gathered. Simply because we are more technically 'capable' of extraction, DOESN'T mean the older CONDITIONS of scarcity were AS scarce as they are 'today'. In other words... it was easier 'pickins' back then... bigger, easier nuggets and placer conditions and/or exposed outcropping. Add in 'plundering' by warring cultures and the tendency to 'hide'/protect this wealth of kings and potentates makes it even more difficult.
We DON't know... so any attempts at 'totaling' to 5.1 billion oz is inherently flawed.

The 'question'.. 'so where's the gold' is valid though.
sorry to interrupt. :)

Cyril's picture

"Central Bank Gold Agreements" & "Gold as collateral" worth read

The "Central Bank Gold Agreements" and "Gold as collateral" pages are worth reading:

http://www.gold.org/government_affairs/reserve_asset_managem...

http://www.gold.org/government_affairs/gold_as_collateral

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

About the World Gold Council

About the World Gold Council [...]

http://www.gold.org/about_us/who_we_are

Based in the UK, with operations in India, the Far East, Europe and the US, the World Gold Council is an association whose 21 members comprise the world’s leading gold mining companies.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Annual time series on World Official Gold Reserves since 1845 :

Annual time series on World Official Gold Reserves since 1845 :

http://www.gold.org/download/value/stats/statistics/pdf/annu...

(World Gold Council)

One has to register/create an account to log in and access their PDFs.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

His closing statement is merely one of those best kept secrets

His closing statement is eerily insightful.

Well, I suspect his closing statement is merely one of those best kept secrets of today's PTB, one which has simply been carefully hidden... in plain sight.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius