The Phaserl


“Stuff” Can’t Go Out Of Business

by Bill Holter, Miles Franklin:

We did a little bit of math yesterday and found that there is barley 1/85th of one ounce of gold produced each year for each inhabitant of the planet. This is a “flow” number as it compares to newly available gold to the population. But what about the “stock” of gold compared to the population?

The estimates are that globally 2,600-2,700 tons of gold per year are produced, this is the “flow.” The best estimates that I’ve seen on “stock” are all in the neighborhood of 170,000 tons unless you include those in “La La” land (Karen Hudes et al) who believe that another 170,000 tons is sitting somewhere in Hawaii that will be used to “make the world right” and save humanity from global poverty…Kumbayah. “Stock” is the total of all gold mined throughout history and could be “available” for trade or delivery.

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