[PUGACHEV]

Scarcity alone does not determine value of a commodity. Take aluminum as an example. Before a process for refining it from bauxite was discovered, a pound of aluminum was worth more than a pound of gold. Once producing aluminum became practical on a industrial scale, the price of aluminum dropped as the quantity expanded exponentially. However, the value of the aluminum industry skyrocketed as demand for the metal expanded even more.

So long as there was only a small supply, no practical use could be made of aluminum. Once it became an affordable commodity, countless uses for it were discovered and whole industries grew as a result. Aviation and space are two examples. Aluminum created far more wealth once it became a common materiel than it ever did when it was scarce. Gold has so many unique qualities, that I would expect the same thing to happen if it became more affordable.

[Getready]

Good analysis...but the aluminum is cheap...it is the work with and by the aluminum workers which creates wealth..so the report about peoples wealth with plentiful gold is gonna be dependant on work done...

[Ancesthntr]

“Gold has so many unique qualities, that I would expect the same thing to happen if it became more affordable. “

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Yes, but aluminum is still dirt cheap. How is everyone going to be worth $75 billion if gold goes to $1/pound? Hell, how many people will even work if they have even a tiny fraction of that kind of net worth?

I don’t challenge that cheaper and far more abundant gold would produce lots of opportunities and wealth...but this report is Class A Crapola.