Why do they keep mining gold?

Discussion in 'Gold' started by Clawhammer, Oct 23, 2017.

  1. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    I know its a KWN article... but it underlies the question.

    If gold is such a lousy investment/asset, why do we keep digging it out of the ground?

    Flying over the W.A. goldfields, anyone can see the enormous effort still going into exploring for and extracting the yellow metal. It gets tougher and more expensive every year... yet billions are being poured into getting more.

    There has to be a hidden 'end game'.

    ://kingworldnews.com/greyerz-10000-gold-and-what-i-went-through-on-black-monday-in-1987/
     
    Clawhammer, Oct 23, 2017
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  2. Brendio

    Brendio Active Member

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    Market forces really. If one can dig it out of the ground and refine it for cheaper than what it is selling for, they can make money on it, even if they don't value it themselves. So, as long as there are suckers to buy it, there will be miners.
     
    Brendio, Oct 23, 2017
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  3. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Because I have a nagging missus that constantly bleats she doesn't have enough.
     
    Silver Soul, Oct 23, 2017
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  4. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    So the major banks JPM, Swiss etc & Central Banks (whom mint sovereign PM coins and have bullion reserves etc) run down the value/utility of gold...

    Then loan money to/underwrite the operations of gold mining companies...

    Then buy the production of the miners....

    Then run down the value/utility of gold...
     
    Clawhammer, Oct 23, 2017
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  5. JOHNLGALT

    JOHNLGALT Well-Known Member

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    JOHNLGALT, Oct 23, 2017
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  6. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Thanks Brah!
     
    Clawhammer, Oct 23, 2017
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  7. systematic

    systematic Well-Known Member

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    It is all about getting the gold ... the modern monetary paper fiat system is a decoy and distraction to what is really going on ... getting the gold ... and Switzerland is "flush" with gold ...

    http://money.cnn.com/2017/10/11/news/gold-switzerland-water-sewage-waste/index.html
     
    systematic, Oct 23, 2017
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  8. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    There is no difference between gold or coal or coffee shop
    If you can dig gold/coal out or sell a cup of coffee for cheaper than someone is willing to pay for it.... Why not?
     
    Ipv6Ready, Oct 23, 2017
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  9. systematic

    systematic Well-Known Member

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    There are people in the world that care more about power than "money" .... gold has particular desirable properties .... many people want to be "rich" but that doesn't make them much different than being a primate with a wallet ...
     
    Last edited: Oct 23, 2017
    systematic, Oct 23, 2017
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  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    In answer to your question: it’s a KWN article. ;)
     
    mmm....shiney!, Oct 23, 2017
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