HowMuchIsGoldWorth.net

Dedicated to all the prospectors out there who have searched for the dream and all of those who are still out there searching for it, the following inspirational extract from Daryl Friesen’s Seekers Of Gold gives just a taster of the thrill of gold prospecting.

“Everyone was doing it. Everyone dreamed of the day when they would be the one to strike it rich, represent freedom for all, but what does it mean to people today?

I’ll tell you, a big house and a nice car. People don’t see that it’s so much more than just finding the golden score. It’s not seen as a building block for freedom. It’s been twisted and messed up to the point of being stuck on a scratch and win ticket. That is what is left of the prospector’s dream in today’s world.

All the people around you don’t understand, they can’t see the freedom and the hope it brings you when you chase the dream. They just think you’re dreaming, but we know the truth don’t we?

The truth is you’re living and they are the ones that are dreaming. Their search for the big car and the nice house.

Ha! Illusions I tell you brought onto their brain less minds by a media machine. How I wish I could chase after it still, but the fight’s over for me lad. I’ve got a bad ticker you see, but you can, can’t you son?” he explained eyeing me almost enviously, there is nothing better than standing high up on a mountain top and gazing down upon the world. It makes you feel like your own man.

Free from all prison that the world tries to make of your life. You see the world doesn’t want you to be your own man. If they did, they wouldn’t be trying to make you swallow the lie all the time and you know how they do it. Through that little box over there, he said pointing to the television across the room.

Look at those people over there, he explained pointing to the people staring at the TV. They’re swallowing every word of it and it makes me sick. Our pioneer brothers are rolling in their graves I tell ya. They wouldn’t have wanted it this way, this isn’t freedom.

People today don’t know what freedom is. That little box over there tells them that they’re free, but they’re not. You see when somebody tells you something enough times you’ll start to believe it. Tell me you won’t give up, tell me you will follow the dream to the ends of the earth. If not for yourself then do it for your pioneer brothers who help create this world and you become one of them.

Remember freedom is worth dying for and I’m not talking about dying in a war fighting for some illusionary freedom that your government tells you have. I’m talking the real stuff that comes from the open spaces and when you spent enough time in the mountains you’ll know what I’m talking about. It will grab your soul and won’t leave you until the day you die. It’s what pushes all great men and once you see it you’ll chase it for the rest of your days.”

So exactly how much gold is there in the world and how long before we run out, if ever? The question has three purposes. Firstly, out of simple trivial interest, secondly in order to assess whether there is ample supply for industrial application and thirdly and perhaps most pertinently, in order to predict what the future holds for the price of gold and how much it is worth. Gold like all other natural resources is extracted from the earth’s crust. Even though it is also found in the world’s oceans, it cannot be economically extracted from them as yet.

Locations that are plentiful in gold include South Africa, USA, China, Russia, Australia, Peru and many other sites around the world. Unlike many other elements, gold due to its unreactive nature is often found as pure nuggets of solid gold.

It is of course this very property that has lent itself to establishing gold as a form of money; the fact that it maintains its integrity and is not susceptible to tarnishing, rusting or reaction with other elements. Gold can resist forever the strong oxidising effect of atmospheric oxygen that makes a banana and apple go brown and soggy within minutes.

Mining & The California Gold Rush

The famous California gold rush of 1849, after which the San Francisco 49′s football team is named, was due not only to the reserves found in the Sierra Nevada mountains but that it flowed into streams and rivers allowing prospectors to simply dip a pan into waterways and literally fish out the gold.

In its earliest days, prospectors were collecting nuggets worth hundreds of dollars on a daily basis and Samuel Brannan a Frisco newspaper publisher and merchant famously strode through the streets of San Francisco, holding aloft a vial of gold, shouting “Gold! Gold! Gold from the American River!”.

The California gold rush is a significant event in determining how much gold is in the world or ‘above ground’ as approximately 90% of all gold mined has been done in the time since this event.

Estimates vary but it would appear that the amount of gold mined is in the region of around 5 billion ounces. It sounds like a lot but physically it would take up the space of a cube 20 metres in side or roughly the size of a large cinema hall.

US Debt is More Than All The Gold in the World

With gold prices toying with the $2000 an ounce mark, the amount of gold in the world calculates to a value of $10 trillion dollars. That is a bit scary when you realise that the US debt as of 2012 is over $14 trillion dollars. In other words, all the gold in the world would not pay off the US debt!

Of this quantity, the vast majority, over 50%, exists in the form of jewelry. Central banks and investment bullion account for the lion’s share of the remainder with the smallest bracket of approximately 10% used in industrial applications.

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