If they start mining that gold, gold will become worthless rather quickly. It might increase at first but if there is as much gold as they claim then it will not be as scarce. Supply and demand will crush it’s value.
True, but we would be wiping with gold leaf and wearing gold chain...
That’s a lot of gold.
Also a lot of space. I’m guessing that you could dig most anywhere and find gold if you got something to measure it in parts per trillion.
Same as any gold mine - it is only profitable if you can find it in concentrations compared to the expense. I think it needs to be some fraction of an ounce per ton of waste rock to make a mine worthwhile.
“. It might increase at first but if there is as much gold as they claim then it will not be as scarce.”
I think you misunderstand.
If we were to find gold in those quantities,we would value good less as a medium of exchange of decoration, and more core it’s physical and chemical properties, such as conductivity.
At the turn of the last century, aluminum was a precious metal. With the introduction of the Bayer process, it is cheap enough to wrap leftovers.