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The One Thing That Could Tank Gold Prices

Commodities / Gold and Silver 2010 Sep 05, 2010 - 10:49 AM GMT

By: D_Sherman_Okst

Commodities

As I dug deeper into the inner workings of the economy I became convinced that most of it was – like the housing industry – a house of cards.

Diversification for me boiled down to just a few things that I can have faith in. I'm not alone in this camp, I've heard Eric Sprott speak about this as well.


I always look for what could tank my basket of eggs. Today I found one thing I’m fearful of.

The oceans contain about 13 billionths of a gram per liter of seawater. If I did the math right: I estimate that we’d have about 708,738,078 kg of gold if someone found a way to mine the gold from our oceans. Provided that gold wasn't needed and didn't kill off the entire ocean.

According to this ZeroHedge article there are about 24,258200 kg of gold held in reserves. Provided of course, that Moron Bernanke nor any of his idiot predecessors haven’t sold ours.

http://www.zerohedge.com/article/gold-101-whos-got-it-and-whos-finding-it

But, I figure the chances of some genius scientist or inventor finding a way to extract it economically - before Bernanke and the 535 clowns in Congress and the Senate (Ron Paul and the handful of physically responsible adults excluded) destroy our dollar -are slim to nill.

So I sleep just fine. I don't use Ambien anymore - I got Bernanke and 535 clowns destroying our dollar faster than any scientist can create a technology to do the impossible. Thank's Willy-Nilly!

By D. Sherman Okst

Bernardston MA USA
davossherman @ gmail.com

I'm an ex-airline captain with about 15,000 hours and am amazed at all the BS we are taught. Most of my friends still in the business were also taught the wrong aerodynamic principles with respect to what makes planes fly. Aviation or economics, Keynes to Austrian - Bernulli to Newton we've been sold bad goods. It's amazing anything works as backwards as we do things.

© 2010 Copyright  D. Sherman Okst - Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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