When gold breaches $3,000 or so, watch how much gold comes out of the ground.
I was around when we went completely off the gold standard and “experts” were saying there was a “scarcity of gold”. It was amazing to see how much surfaced when it passed the $200 mark.
I thought it was cool on the gold miners’ part that they started working the lower grade veins, keeping the richer ones in reserve for when gold fell.
the easy gold has been mined. There are serious problems associated with pulling more out to keep up with demand. For one, the gold mines are located in unstable regions around unstable governments with unstable power supplies. Then there’s the environmental impact associated with gold mining. Large areas of native land are destroyed and polluted badly. It’s not as easy as just hiring a few more miners.