Kiyosaki: "there's 11 years-worth of silver left"

[motorbikez]

By 1990 no Australian child will be living in poverty.

I believe that was true. Squalor isn't poverty. In absolute terms we don't have real poverty in Oz. Relative poverty for sure, and this govt is pushing for more, but figures for starvation, preventable diseases and lack of running water are pretty low I'd say.

That is absolutely true in the modern day west. The same drivel is peddled by the socialists in the UK, what they mean by poverty is only being able to afford a 40ins plasma TV instead of a 60in,only go on one holiday a year instead of two etc etc.

The only reason there is perceived child poverty in the UK is the feckless deadbeats who have been on benefits all their lives, choose to spend their money on drink drugs and cigarettes instead of taking care of their children.In the UK and I suspect most modern countries there is too much carrot and not enough stick to make people responsible for their own actions. I also include the current and previous governments in this.

You want to see real poverty look at those poor countries in West Africa that are currently on our news channels, that are being ravaged by the eboela virus. When you see how they live, that is poverty & there will be worse places on the planet than that.

We in the West live on cloud nine compared to half the world.

 

[finicky]

^^^

That's Clawhammer?

 

[Holdfast]

Last visit 04 December.

 

[renovator]

Speaking of BS.
I'd be genuinely interested in hearing of coal mines that have gold and silver incursions.
My knowledge og geology says that this is unlikelt. But I'm not a geologist.
Maybe we need to ask Claw if this is possible. I haven't seen him here for a while.

I talked to him a not long ago ...hes busy roaming around the bush makin a quid

 

[SpacePete]

[youtube]http://www.youtube.com/watch?v=6dBL2IY3pYo[/youtube]

Great video. Should be mandatory watching for all silver stackers.

Stats:

1400000000000t in the crust
      1560000t mined to date
1399998440000t remaining

That is, 1 trillion 399 billion 998 million 440 thousand tons of silver remaining in the crust.

It is enough for every person alive today to have almost 200 tons of silver if we could extract every ounce of silver from the crust (obviously that's not economically viable with current technology).

It also completely blows away all the conspiracy theories about silver price suppression. If anything, prices are kept artificially high, but most likely prices currently reflect costs of production, mining capacity and demand.

 

[JulieW]

Can I have my 200 tons now please?

 

[spannermonkey]

Can I have my 200 tons now please?

:lol:
NO

Maybe if you invest in some paper & try to take delivery might be your best bet :|

 

[DSK]

:lol:

After talking to some miners I call BS
From what I've been told by coal miners , when they come across a gold / silver stream they just block it off & will come back later
They are not interested in metals while digging for coal

Speaking of BS.
I'd be genuinely interested in hearing of coal mines that have gold and silver incursions.
My knowledge og geology says that this is unlikelt. But I'm not a geologist.
Maybe we need to ask Claw if this is possible. I haven't seen him here for a while.

I did mine surveying for three years in coal open cut. No silver or gold in coal.
Even though i knew still asked geologist and they said no. Though, silver is usually mineralised and
Can be found in small traces just about any where, not enough to mine tho.

 

[willrocks]

Stats:

1400000000000t in the crust
      1560000t mined to date
1399998440000t remaining

Reminds me of this:

Ocean waters do hold gold nearly 20 million tons of it. However, if you were hoping make your fortune mining the sea, consider this: Gold in the ocean is so dilute that its concentration is on the order of parts per trillion. Each liter of seawater contains, on average, about 13 billionths of a gram of gold.

And that's just in the oceans.

 

[markc]

71% of the earth's crust is underwater and a large percent of land is privately owned (e.g. 60% of USA, 77% of Australia) so the total amount of minable silver would have to be a lot less than 1399998440000t.

 

[Potato]

Stats:

1400000000000t in the crust
      1560000t mined to date
1399998440000t remaining

Reminds me of this:

Ocean waters do hold gold nearly 20 million tons of it. However, if you were hoping make your fortune mining the sea, consider this: Gold in the ocean is so dilute that its concentration is on the order of parts per trillion. Each liter of seawater contains, on average, about 13 billionths of a gram of gold.

And that's just in the oceans.

That's it

The video says the earth's crust is 0.075g of silver per tonne. Which means you'd have to process 400 tonnes of dirt to get 1 ounce of silver. Can you say $100,000 silver? :lol:

 

[trader10]

In my opinion the silver content in the earths crust is largely irrelevant, it's not the reason I linked the video.

What is relevant is that these predictions of "running out in X years" are usually based on mining reserves and current rates of consumption, when as outlined in the video these reserves have been increasing or steady over time as they're replaced. Any calculation based on no further discoveries/reserves is flawed (especially when a higher Silver price may make currently uneconomic deposits economic).

So you have to ask the question... what does Kiyosaki base his figures on to get 11 years?

Agree 100%..... Kiyosaki is a "marketing" guy..... he's obviously "pumping" the story..... similar to MR. Maloney BALONEY...... marketing people.....

 

[Naphthalene Man]

:lol:

After talking to some miners I call BS
From what I've been told by coal miners , when they come across a gold / silver stream they just block it off & will come back later
They are not interested in metals while digging for coal

Speaking of BS.
I'd be genuinely interested in hearing of coal mines that have gold and silver incursions.
My knowledge og geology says that this is unlikelt. But I'm not a geologist.
Maybe we need to ask Claw if this is possible. I haven't seen him here for a while.

I did mine surveying for three years in coal open cut. No silver or gold in coal.
Even though i knew still asked geologist and they said no. Though, silver is usually mineralised and
Can be found in small traces just about any where, not enough to mine tho.

Yep, clawhammer pm'd me - thanks reno!
He confirmed my geological knowledge and said...
"gold silver & other metals aren't usually associated with coal unless they were washed in as sedimentary concentrated deposits called 'placer' deposits."

So I'm still sticking with the old guy was having a lend of you spanner.

 

[renovator]

Speaking of BS.
I'd be genuinely interested in hearing of coal mines that have gold and silver incursions.
My knowledge og geology says that this is unlikelt. But I'm not a geologist.
Maybe we need to ask Claw if this is possible. I haven't seen him here for a while.

I did mine surveying for three years in coal open cut. No silver or gold in coal.
Even though i knew still asked geologist and they said no. Though, silver is usually mineralised and
Can be found in small traces just about any where, not enough to mine tho.

Yep, clawhammer pm'd me - thanks reno!
He confirmed my geological knowledge and said...
"gold silver & other metals aren't usually associated with coal unless they were washed in as sedimentary concentrated deposits called 'placer' deposits."

So I'm still sticking with the old guy was having a lend of you spanner.

No worries NM lol yeah i had to clear up the rumours clawhammer is fine & doin well for himself..shall we call him the phantom now ? the ghost who walks ? :lol:

 

[wwolfe]

Silver is never really lost (other than satellites) just used in small pieces in electronics and devices and therfore hard to recycle. If silver really did run out in the earth, we would find ways to reclaim it from scrap yards, trash heaps and recycle it.

 

[finicky]

Silver is never really lost (other than satellites) just used in small pieces in electronics and devices and therefore hard to recycle. If silver really did run out in the earth, we would find ways to reclaim it from scrap yards, trash heaps and recycle it.

I fervently disagree. I put it to you that Silver is so faintly dispersed in trash heaps, garbage and scrap yards that very low grade ore bodies would be more economical to exploit before the resources that you name. I further put it to you that such natural resources will present lower technical challenges to extraction of Silver than the sources you name.
I do reluctantly concede your main premiss that the world will not run out of silver - just that a much higher price would be required to economically motivate extraction from low grade and refractory ore bodies.

 

[finicky]

Here's a frank critique of Robert Kiyosaki's take on life. Tunnel vision on making a buck by whatever means.

Deconstructing Robert Kiyosaki

 

[TreasureHunter]

Can I have my 200 tons now please?

No, someone just ordered their 200 tons, we're out of silver right now.

Please wait for more to be mined, stand in line please, as prices soar.

 

[TreasureHunter]

Here's a frank critique of Robert Kiyosaki's take on life. Tunnel vision on making a buck by whatever means.

Deconstructing Robert Kiyosaki

Stackers too have tunnel vision. So do many PM investors and permabulls especially.

But at least it's fun! :lol: