Why is Australia and 'the West' not buying gold

"We" don't do anything. Multi-national mining companies do the mining and they won't be topping up jack-sh#t at the behest of the government.

 

That's true, however 'gold in the ground' still has significant value, so they can nationalise the ground, even if the mining companies disappear.

You could even argue that there is little difference between gold in the ground and gold in a vault if you still have no intention of selling/trading it all. It can still be used as collatarel. Ie, whats the difference for a country when they're owed 10 tonnes of gold that sits in a vault in Australia, or in some mines in Australia? The difference is timing really, digging it up just delays delivery a bit longer.

This touches on another subject that always bothers me - higher PM prices = pillaging the land to a greater extent. Imagine every man and his dog doing dredging? Of course the govt would probably make it illegal by then. But the point being that 'gold in the ground' can be a decent compromise to an all-out mining spree that really doesn't achieve much of a net positive result (and especially negative on the environment).

 

Try getting a mining licence for a small claim. The system is set up to actively discourage "every man and his dog" dredging.

 

Another great example of governments impinging on free enterprise. I am sick to death of the environmental BS. Governments and big business can rape and pillage the countryside and oceans. After all they pay off the right people and officials ..

But... you want to take your son fishing for the 2mm herrings that are left after the trawling nets have passed you need a licence. Big miners scour the land, poison the rivers and like Carthage salt the soil but for you to pan or use a metal detector - no that will destroy the ecosystem.

Wake up people mining and prospecting is certainly not as big a waste of time and resources when compared to paper sorting or most government jobs which produce nothing at all. All those committees and organisations discussing...... blah blah blah.....Sorry to all those SS employed by our government - privately most of you will eventually accept you are wasting your life producing nothing at all. For now it may pay the bills, soon it probably will not. In my own work previously employed by the government - I may have helped people but privately doing the same job I help 10x the number of people I could working for the state; I now employ 20 people and contribute 10x the knowledge I used to to the common good. The government is the vampire squid sucking life from us all.

 

Dredging by individuals is already illegal in Australia.
http://alluvialgprospectors.proboards.com/index.cgi?board=general&action=display&thread=2088

 

I figure that illegality is not enough... If the reward is 10k per oz, and it's easy money, it'll happen.

So they'll need more police? Dang.

 

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