/biz/ - Business & Finance

Why not do this? 100 govt cryptos = 10 ounce of silver = 1 ounce of gold. All govt cryptos are based on the amount of gold/silver reserves a country has.

If we aren’t in a recession right now then why is Gold more expensive than pre-2008 levels? The recession is here, the depression is what’s coming next.

The problem with gold is that it’s too scarce and richfags can easily corner the market. Silver is 10 times more abundant above ground and silver backed currency will motivate silver miners to mine it. Silver can’t ever be cornered since there’s too much of it now but it’s not as abundant as regular metals like copper, iron or tin since they’re more abundant below ground than silver.

I was thinking about denominations:

$1 - 1/10th ounce silver
$5 - 1/2 ounce silver
$10 - 1 ounce silver

Thoughts?

Gold prices are getting jacked up. Thoughts?

>no one is talking about the gold golden bull run
>recession’s coming

>2,000,000 metric tones of silver has ever been mined throughout history
>more than 40% is lost or economically unrecoverable
>200,000 metric tones of gold has ever been mined throughout history
>15% is lost or economically unrecoverable


>B-B-B-BUT MUH ASTEROID MINING
Asteroid mining won’t be a thing for another 100 years or more. And when they land the miner on a gold rich asteroid the price of gold will plummet and be worthless so they won’t bother brining it back. Then the price will bounce up because of low supply. Gold will always win, asteroid mining won’t be worth it until there is a heavy industrial use for gold.

>but muh deep sea mining
No proof that gold will be mined in high quantity. Just that it will be mined like current annual production ie less than 5000 tones a year.

Gold wins. Pack it up. Silver wins. Crypto-currencies are just 0’s and 1’s on a screen with zero worth.