17 votes

All The Gold in the World

In a single cube.

One Ton


More Gold breakdowns Here .

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I find that hard to believe.

I find that hard to believe.

What practical use does this mineral have?

All the resources committed to scratching around in the earth to extract it. Without practical usage, it's value is merely a perceived value. Maybe the Illuminati shove it up their a-holes to re energize their selves or something.

Ron Paul is A Man For All Seasons

tasmlab's picture

Women think it's pretty

Women have thought it was pretty for like 10,000 years across all cultures.

This is either some giant and embarrassing vain triviality.

Or, like anything else in nature that attracts females, the essence of the survival and propagation of the species.

Currently consuming: Gatto: "Underground history of education..", FDR; Wii U; NEP Football

Let's break down

your question a little further. Any commodity can be said to have a "use value" and an "exchange value." By "practical use," I assume you mean "use value."

Also, value is subjective and is perceived differently by individuals from moment to moment as determined by their own "value scales."

Further reading:

The Subjective Theory of Value - Chapter IV of the book "An Introduction to Austrian Economics" by Thomas C. Taylor

Here is a quick link I found about the various uses of gold, though I would defer to Mike Maloney's videos for a more in depth explanation of gold's financial uses (exchange value).
http://geology.com/minerals/gold/uses-of-gold.shtml

Here is an

excellent five part video series on money (hint: gold & silver), currency, and their history.

Hidden Secrets of Money - Mike Maloney
Part 1 - Currency vs Money
Part 2 - Seven Stages Of Empire
Part 3 - Dollar Crisis To Golden Opportunity
Part 4 - The Biggest Scam In The History Of Mankind
Part 5 - TRUE History Of Money

Also...

What Has Government Done To Our Money - Book by Murray Rothbard
Link - pdf

If you want to learn more, take a look at the main precious metals post on the Daily Paul...

>Gold $1,309 Silver $19.91 Platinum $1,471 Palladium $858 Dollar 81.40 - Posted by takeaction

How Do We Know...

...that cube isn't filled with tungsten? :)

Did the shipment go through China?

.

great site!

Loads of cool infographics! Thanks for sharing site

At me too someone is looking, of me too someone is saying, He is sleeping, he knows nothing, let him sleep on.

Someone is looking at me, someone is talking about me...

That person is not awake, and so, knows nothing. Don't wake him from his slumber.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Statistically, 99.99% of people don't know that you exist - barring a "celebrity" status.

How is it implied that a person talking about you "knows nothing"? How is it implied that a person looking at you "knows nothing"?

Further, why should we not try to wake him up?

Michael Nystrom's picture

A most cryptic signature line,

Indeed.

Welcome.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Thanks

Was out of country so it took a while to reply. Signature line is from "Waiting for Godot".

At me too someone is looking, of me too someone is saying, He is sleeping, he knows nothing, let him sleep on.

great site!

Loads of cool infographics! Thanks for sharing site

At me too someone is looking, of me too someone is saying, He is sleeping, he knows nothing, let him sleep on.

All of the gold in the world is worth

About $6.7 trillion, total.

http://www.onlygold.com/Info/All-The-Gold-In-The-World.asp

Imagine living in a society where all monetary currencies are controlled and limited to the total amount of gold in the world.

The entire global market would literally have a cap, limited to $6.7 trillion.

That would be like taking America back to 1997, and leaving the rest of the world with nothing.

As the population of planet Earth continues to grow, having gold as the world's reserve currency would mean every generation from now until the end of time will get poorer.

Gold is limited, and scarce. Tying the entire global economy around a fixed and extremely limited resource is only a wise decision if one is a King or Queen seeking control and dominance over their subjective pawns.

Never be afraid to ask simple questions.

Just

I will take the wildly productive gold based US economy

of the late 1800's to the Greenspan/Bernanke/Yellen fiat driven bubble binge economy of today. But yeah, if someone wants to use a little silver, platinum or bitcoin instead, I got no problems with that.

yes lets imagine that world....

In such a world anyone (including kings and queens) would have to either earn their money, or take it by force. In such a world printing presses would only be used to print consumer goods like books magazines etc. Kings and queens (and theirs pals) wouldn't be able to create "money" out of nothing.

A $6.7T (in FRN) valuation is completely irrelevant in a world that uses gold as money.

Now the elite have spent decades devouring up all the gold stores and steering us towards funny money, and that does pose a problem. But as always the market will provide. If there is simply no gold to be had for the masses, the masses will use something else as money. If the masses are smart they will choose a money that is "sound" (maintains is value over time/cannot be massively counterfeited)

You have concerns about the quantity of gold? Give chapter 3 a read here: http://mises.org/books/fed.pdf

Quote:
--------
Hence, the great truth of monetary theory emerges: once a commodity is in sufficient supply to be adopted as a money, no further increase in the supply of money is needed. Any quantity of money in society is "optimal."
-------

A $6.7T (in FRN) valuation is

A $6.7T (in FRN) valuation is completely irrelevant in a world that uses gold as money.

That was all that needed to be said. The guy doesn't realize if everyone was using gold, less gold would buy more.

If ignorance is bliss, Washington DC must be heaven.

DJP333's picture

So what's your answer

to sound monetary policy? We cannot just keep printing FRN's into oblivion until hyper-inflation sets in and wipes out our wealth? Are you saying that Ron Paul was wrong in regards to transitioning back to a quasi-gold standard? Are you saying that we should be a debt based society for ever? You do realize that except for the US, most people value gold and silver very highly in other countries and use it for wealth preservation, investment and retirement purposes purely because it is "limited and scarce".

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different."

I really think there is more

I really think there is more of it out there than what appears in that cube. Think of how many people have jewelry. Think of how many people have bullion. Think of all of the bullion stored by the Fed and other governments. Think of all of the bullion that's been lost in the oceans when pirate or other ships sank. God only knows how much gold the ancient Egyptians have buried.

Please come join my forum if you're not a trendy and agree with my points of view.

Off by a factor or 10.

Off by a factor or 10.

There's actually 1.65M Tonnes

Give me control of a nation's money and I care not who makes the laws - Mayer Amschel Rothschild

DJP333's picture

All the silver....

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different."

THanks for

putting a smile on my face, Golden.

I like to hold my retirement in my hand(s).

If you don't know your rights, you don't have any.