4um: What is all the Gold, Silver,and Platinum on Earth worth?

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Title: What is all the Gold, Silver,and Platinum on Earth worth?
Source: YouTube and the History Channel
URL Source: http://www.youtube.com/watch?v=Oz_oRrn9XjY
Published: Apr 14, 2014
Author: johnb41984
Post Date: 2014-04-14 13:48:09 by GreyLmist
Keywords: Precious Metals, Resources, Commodities, Nevada
Views: 95
Comments: 17

10 minute video. From the Description section:

All the gold ever mined and all the gold still in the Earth is worth over 12 trillion dollars. At today's price at around $1650 that is over 7.4 billion ounces.
All the silver is worth 522 billion dollars. At around $31 and ounce that is 16 billion ounces.
All the platinum is worth almost two trillion dollars which is around 1.2 billion ounces.
That makes all the Gold, Silver, and Platinum on Earth worth almost 15 trillion dollars.
Poster Comment:
In other words, not enough to zero out America's supposed debts even if we had all of those precious metals ever mined; and India has far more gold we do. China and Australia are the world's biggest gold producers. In America, Nevada and Alaska are the biggest gold mining States. Large silver mines in Mexico, Peru and China. South Africa, Russia and the U.S. have the most platinum. Seems that there would be a high risk of foreign dependancy on gold and silver for America to rely heavily on those metal standards presently as currency backing.
Full length video (89 minutes) available for viewing at:
What's the Earth Worth? Full Episode - HISTORY Specials - HISTORY.com
Indicates that we're better situated financially in timber and cattle.
Nevada gold...cattle there rustling in the news currently...just noting those convergence points of interest, imo.
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#6. To: GreyLmist (#0)
The oceans and floor of the oceans contain far more gold than was ever mined. However, it costs more to obtain than it is worth.

Most of the earth's gold is in the core, trillions of tons, but impossible to get to. By spending $billions we might be able to drill 10 miles deep but it would be impossible to drill 20 miles deep, let alone 4,000 miles to reach the gold.

There is evidence that since the gold sank to the core when the earth was so hot it was a liquid, the gold found in the crust came billions of years ago when the earth was bombarded by meters and asteroids. In the future, mining asteroids may be an inexpensive way to obtain huge quantities of gold--perhaps enough to devalue gold.

DWornock posted on 2014-04-16 23:05:13 ET Reply Untrace Trace Private Reply
#10. To: DWornock (#6)
The oceans and floor of the oceans contain far more gold than was ever mined. However, it costs more to obtain than it is worth.
Most of the earth's gold is in the core, trillions of tons, but impossible to get to. By spending $billions we might be able to drill 10 miles deep but it would be impossible to drill 20 miles deep, let alone 4,000 miles to reach the gold.
There is evidence that since the gold sank to the core when the earth was so hot it was a liquid, the gold found in the crust came billions of years ago when the earth was bombarded by meters and asteroids. In the future, mining asteroids may be an inexpensive way to obtain huge quantities of gold--perhaps enough to devalue gold.

I don't know how you can be very sure of all that but it seems to me that it would take astronomically huge quantities of asteroids and meteors to make that much gold. If it's infeasible to obtain gold needed for societal benefit, don't you think it's the delapidated financial system that's the problem obstructing our way forward more than where the gold is located? I certainly do.

GreyLmist posted on 2014-04-19 11:04:55 ET Reply Untrace Trace Private Reply
#13. To: GreyLmist (#10)
don't you think it's the delapidated financial system that's the problem obstructing our way forward more than where the gold is located?

The financial system is in such deplorable state that I've heard there is a new currency combination on the burner to be introduced in the near future. As it now stands, FRNs are worth only half of what they were 20 years ago, and the value keeps declining. The printing press is not the way to keep liquidity in a state of use that we can be proud of any longer. ;)

BTP Holdings posted on 2014-04-19 11:16:13 ET Reply Untrace Trace Private Reply
#15. To: BTP Holdings (#13)
The financial system is in such deplorable state that I've heard there is a new currency combination on the burner to be introduced in the near future. As it now stands, FRNs are worth only half of what they were 20 years ago, and the value keeps declining. The printing press is not the way to keep liquidity in a state of use that we can be proud of any longer. ;)

I vote to give all the FRNs back to the bankers and then use a better currency system that isn't so ridiculously unsound.

GreyLmist posted on 2014-04-19 11:28:56 ET Reply Untrace Trace Private Reply
#16. To: GreyLmist (#15)
I vote to give all the FRNs back to the bankers and then use a better currency system that isn't so ridiculously unsound.

There was the Liberty Dollar, which was backed by real gold and silver. But they got run out of business by the FED. What else can we choose? There was a local currency out east called Ithaca Hours. It was valued by the number of hours your would put in on your job. Far as I know, it is still in use. ;)

BTP Holdings posted on 2014-04-19 12:00:49 ET Reply Untrace Trace Private Reply
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