In any case, the world economy has simply outgrown the capacity of additions to
the world gold supply to accommodate the increase in world population and increased trade without periodic, painful revaluations of any currencies tied to gold.
Not exact matches
The Oracle of Omaha once noted you could either have the
world's
gold supply, worth US$ 9 trillion to just sit there, or use it to buy all 400 million acres of farmland in the U.S. plus 16 Exxon Mobils, producing a substantial cash flow.
For more than a year, Chuck Jeannes, CEO of Vancouver - based Goldcorp — the
world's largest
gold miner by market value — has posited his «peak
gold supply» theory.
What's more, the Citi strategists doubt whether the
world even needs a new version of
gold, when governments long ago stopped pegging the value of paper currency to the metal: «Is a fixed
supply of money, a digital
gold standard, really superior to a flexible money
supply?»
By comparison, the total
gold supply worldwide last year topped 4,026 tonnes, according to numbers from the World Gold Coun
gold supply worldwide last year topped 4,026 tonnes, according to numbers from the
World Gold Coun
Gold Council.
In the
world of business, a solid line of credit with industry relevant vendors or
suppliers is like
gold.
For one, it is rare, which means it has limited
supply (there is only a certain amount of
gold in the
world - if it was too abundant everyone would have it and then it would have no value).
In fact, the pricing mechanisms that rule futures contracts, which in turn, establish real -
world asset pricing, can be entirely disconnected from physical
supply and demand determinants, especially in the paper
gold and paper silver
worlds of London and New York.
Gold's total
supply is increasing by an average of less than 2 % annually, according to the
World Gold Council.
In the era since President Nixon suspended
gold redemption, the
world's monetary system has worked based on faith and confidence in the central banks» ability to regulate the money
supply.
In the
gold market, miners added 13 % more supply in the second quarter, year over year, even as demand fell 16 %, according to the World Gold Council's latest report.&ra
gold market, miners added 13 % more
supply in the second quarter, year over year, even as demand fell 16 %, according to the
World Gold Council's latest report.&ra
Gold Council's latest report.»
In effect, due to a lack of definitive data they make the assumption that the bulk of the
world's
gold supply doesn't exist.
The main reason, however, is that the difference between the futures price and the spot price is driven by arbitrage and, in all commodity markets except the
gold market, the extent to which current production is able to satisfy current demand (in the
gold market there can never be a
supply shortage because almost all of the
gold mined in
world history is still available to meet current demand).
For instance, both assets have a finite
supply — there is only a fixed amount of
gold that exists in the
world, while there will only ever be a maximum of 21 million bitcoins in circulation.
In the
world of business, a solid line of credit with industry relevant vendors or
suppliers is like
gold.
In a recent analysis by Biman Mukherji and Atul Prakash for Reuters India, the authors note the following: (1) India is the
world's top
gold consumer, garnering one - fifth of the word's
supply, (2) Indian investors...
Following the California
gold discovery of 1848, North America became the
world's major
gold supplier; from 1850 to 1875, more
gold was discovered than in the previous 350 years.
The
world's
gold supply increases at a snail's pace as
gold is mined little by little.
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Supply Rustic Brick & Stone Co Sacramento Van Conversions San Juan Veterinary Hospital sBarkles Scrub Boys Car Wash Talini's Nursery & Garden Center Taylor's Market The Honest Dog The Local Bean The Paper Garden Tognotti's Auto
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Purcari heritage goes back to 1827, winning the first
gold medal at the Paris
World Exhibition in 1878, with a tradition of
supplying to the royal courts in Europe.