The Phaserl


CONSPIRACY vs FACT: How Much Gold Is In The World??

by Steve St. Angelo, SRSRocco Report:

There still seems to be some doubt in many investors minds on how much gold there is in the world. I continue to receive emails from individuals who read articles stating that the amount of gold in the world is much greater than the official estimate. Recently, I have received a spike of emails questioning the amount of gold in the world due to all these supposed “SECRET GOLD STASHES.”

Due to this, I decided to write an article to set the record straight… once and for all. I actually wrote about this in a previous article early last year. However, new information as well as additional data should help provide more FACTS vs the LOUSY CONSPIRACIES.

Before I provide this information, I would like to say the following… I mean no ill will or disrespect for analysts that I disagree with. That being said, I find it quite frustrating when individuals are being misled due to faulty or incorrect information put out by these analysts. Some analysts even state their “Conspiracy Theories” are not conspiracies, but rather…. FACTS. This is even more erroneous than providing a faulty conspiracy.

For example, some precious metals analysts suggest the Fed and Central Banks can push the price of gold anywhere they see fit. This is totally false. There is some method to their madness. This chart, republished from a previous article, shows the gold market price versus the cost of production from the top two gold miners (Barrick & Newmont) 2000-2012:

rom 2000 to 2012, the total production cost for these top two gold miners increased from $243 an ounce to $1,386. Thus, their cost of production in 2012 jumped 5.7 times higher than it was in 2000. Interestingly, the gold market price increased 6 times from $279 in 2000 to $1,669 in 2012. Thus, the overwhelming increase in the market price of gold was a result due to a much higher gold production cost.

Moreover, we can see that the production cost of gold was $1,116 in 2015 versus a market price of $1,160. Which means, the gold market price in 2015 was approximately 4% higher than the cost of production from these two top miners. The Fed and Central Banks cannot push the price of gold down too far below its cost of production, or SAVVY TRADERS will come in with both hands and buy up as much as they could. Smart traders understand this cost of production-market price relationship.

Okay, let’s get back to the notion of all this SECRET GOLD being hid in the world. A few years ago, Antal Fekete and Karen Hurdes did an interview where Karen spoke about acquiring all this hidden gold in Hawaii and using it to back the U.S. Dollar. I have a great deal of respect for Antal Fekete, but for him to be sitting next to Karen as she spoke about this… makes me wonder how much he regretted it later on.

Regardless, for being a very bright individual, Karen Hudes is guilty of not fact checking her assumption that there is 170,000 metric tons (mt) of gold hidden to be used to back the Dollar. I came across an excellent article titled, Karen Hudes & Wolfgang Struck Using Myths To Muddle Global Financial Reset:

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1 comment to CONSPIRACY vs FACT: How Much Gold Is In The World??

  • Bob

    Good article, but Steve didn’t need such a systematic analysis to conclude that Bix Weir is full of shit. I could’ve told anyone that from his unending list of failed predictions.

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