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Offline azozeo

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The 300th anniversary of the gold standard: Will it ever return?
« Reply #2085 on: October 08, 2017, 10:09:58 AM »
http://www.usagold.com/publications/NewsViewsNVOctober2017.html



USA Gold

“Today, September 21, 2017,” says Ralph Benko in a Forbes magazine article, “is the 300th anniversary of Sir Isaac Newton’s accidental invention of the gold standard. . .By inadvertently overvaluing gold to silver, Newton sowed the seed of the gold standard, which ramified into the world’s dominant monetary system presaging a Golden Age. The gold standard was a system that, together with other factors, helped propel England from an unimportant small island nation to the center of the world’s financial system. The true classical Newtonian gold standard also served America, and the world, very well for a long time. It could again do so.”

Benko goes on to say that Donald Trump has shown a strong affinity for gold and an intuitive grasp of the gold standard. “The president said he would like to bring back the gold standard, but that ‘we don’t have the gold.'” Benko counters with “Germany and the IMF together have about as much gold as the rest of the world combined and America has well more than Germany and the IMF combined.”

There are two reasons why I believe that President Trump is right about returning to the classical gold standard. First, the authorities in Washington D.C. – the politicians and economic bureaucrats of either political party – are unlikely to give up their power to run fiscal deficits and pile up the federal debt any time soon, if ever. Second, the benchmark price required to keep the U.S. Treasury from being drained of its gold reserve is so high that it approaches the absurd.

If gold were officially benchmarked against the $20 trillion national debt, for example, the troy ounce price would need to be in the vicinity of $75,000. To be valued against America’s total outstanding external debt of roughly $6 trillion, gold would need to be valued at $22,500 per ounce. In short, Donald Trump is right. The United States does not have enough gold to return to the gold standard.

A more practical approach to unleashing gold’s potential as an official sector asset 

A more practical scenario for utilizing gold as a reserve asset would be to value it on the Fed’s balance sheet at the on-going market price like Europe has since the introduction of the euro. Instead of the Federal Reserve viewing gold as the enemy, it would suddenly become a friend. At current prices, the U.S. gold reserve of 8300 metric tonnes would become a $350 billion asset. At triple today’s prices it would become a more than one trillion dollar asset on the Fed’s balance sheet.

Coincident with marking the gold reserve to market, the U.S. could also do what China and Russia are doing now and channel a portion of U.S.-based mine production into reserves. Though some believe that the likelihood of discovering, developing and actually mining major deposits anytime soon is fleeting, it is amazing what industry can accomplish once free market forces are fully unleashed. If you quarrel with that assumption just look at what has happened in the oil and gas industry over the past few years. The United States is still the fourth largest gold producer in the world behind China, Australia and Russia, and with the proper incentives it could move up the production ladder.

Taking a course of action like what I just outlined would not be an economic panacea, but the psychological effects would be enormous. As for gold owners, it would carry with it a much more lucrative outcome than returning to the gold standard. That said, it is unlikely that we will see either scenario in play anytime soon.


Offline Golden Oxen

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Re: The 300th anniversary of the gold standard: Will it ever return?
« Reply #2086 on: October 08, 2017, 10:51:54 AM »

         "An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable."


  Alan Greenspan



                                             

Offline Eddie

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Re: Gold & Silver News
« Reply #2087 on: October 08, 2017, 11:19:52 AM »
I expect there will be a gold standard in the small post-apocalypse fiefdom controlled by the warlord known as Golden Oxen.
What makes the desert beautiful is that somewhere it hides a well.

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2088 on: October 08, 2017, 04:15:44 PM »
I expect there will be a gold standard in the small post-apocalypse fiefdom controlled by the warlord known as Golden Oxen.

GO a Warlord.

You got me all wrong Edward, I wouldn't harm a fly.  :exp-grin:

                                   


                                     


                                     
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Offline azozeo

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The Swiss are shittin' Gold
« Reply #2089 on: October 12, 2017, 04:02:25 AM »
https://www.swissinfo.ch/eng/sci-tech/down-the-pan_gold-and-silver-worth-millions-found-in-swiss-sewage/43583966#.WdzSO6bzKZw.twitter

Thinking about a gold-panning holiday in Switzerland? Head south to Ticino, where concentrations of gold in sewage are “sufficiently high for recovery to be potentially worthwhile”, according to a federal science report. Every year, gold and silver worth CHF3 million ($3.06 million) is lost via effluents and sludge from wastewater treatment plants in Switzerland, the Swiss Federal Institute of Aquatic Science and Technology (EAWAG) said on Tuesday. The concentrations measured do not pose risks to the environment, and recycling would not be economically worthwhile, it added. The study also produced findings on other trace elements in wastewater, including rare earth metals such as gadolinium and the heavy metal niobium. Trace elements are increasingly widely used in the high-tech and medical sectors – for example, the transition metal tantalum and the semimetal germanium in electronic components; niobium and titanium in alloys and coatings; or gadolinium as a contrast medium and in luminous paints.


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Offline Golden Oxen

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Re: Gold & Silver News - Parabolic Rises
« Reply #2090 on: October 12, 2017, 08:15:38 AM »
Dear Readers, I would like to present a very rare phenomenon  that happened today. :o ::) :icon_scratch:

After a parabolic rise and subsequent crash Bitcoin turned right around and blew out to an all time high today. This is not supposed to happen and is an extremely rare event.

Whenever a parabolic move ends a recovery to new highs is usually years away, and many times never, it being a major top.

Do not know what it means. Am not promoting or endorsing Bitcoin. Only calling your attention to this peculiarity.

Going down the rabbit hole on this one and discussing it with a good friend steeped in market psychology over dinner this weekend.

May return to the topic at a later date. My first instinctive thought is that is very bullish, but abnormalities frighten me and make me very suspicious. :icon_scratch: :icon_scratch: :icon_scratch:

Comments on this topic most welcomed.                                Regards, GO

                         

Chart does not show new high today but you get the idea.

Offline azozeo

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Re: Gold & Silver News
« Reply #2091 on: October 17, 2017, 04:55:28 AM »
https://www.silverdoctors.com/gold/gold-news/peak-gold-australia-edition-the-land-down-under-in-trouble-underground/

http://www.minexconsulting.com/publications/Press%20Release%20on%20the%20Long%20Term%20Gold%20Study%2016%20Oct%202017.pdf

Silver Doctors

This joint effort 40-year outlook for gold mining in Australia does not look good. Here are the problems…

Minex Consulting Press Release:

Under the combined support and sponsorship of six government agencies (both State and Federal), three research organisations and three industry groups1, a landmark report has been published2 by MinEx Consulting looking at the forty-year outlook for the Australian gold industry. It forecasts the likely number of mines, production, revenues and employment out to 2057 for this vital sector of Australia’s economy.

In the past, most industry studies rarely look beyond ten years. The report’s author, Richard Schodde, says that “there are two good reasons for this; Firstly; the future is highly uncertain – and any single-line forecast is almost certain to be wrong. Secondly; most of these studies only looked at existing mines and possible new projects. This is fine for short- to medium-term forecasts but it ignores the important contribution of new discoveries for
mine production in the longer-term.”

It goes without saying that every mine has a finite life (and will eventually close down); it also equally true that all mines were once a gleam in the eye of a geologist (i.e. it took someone to find them). Leaving out the discovery story results in an incomplete view on the long-term future of the mining industry.
As discussed below, nurturing exploration success is critical for ensuring the long-term sustainability of the mining industry. MinEx Consulting’s approach to the task was via the following eight-step process:

1. Embracing uncertainty and using a Monte Carlo approach to assess 1000 different possible scenarios
of the future. This included generating a series of commodity price cycles that reflect what the industry
has experienced in the past.
2. Estimating future production from existing mines, adjusted for changes in the gold price, variability in
operating performance and possible mine-life extensions.
3. Assessing whether the future gold price scenario is sufficiently high enough to trigger the development
of new mines on known projects.
4. Using the price scenarios to predict likely future exploration expenditures. And from this,
5. Estimating the likely number, size and quality of discoveries made over time.
6. Determining the likelihood that a given discovery will be developed and, if so, incorporating a timedelay
between discovery and development.
7. Developing a model to estimate the likely production rate and mine life for these discoveries. From
this, estimating their likely timing and contribution to future revenues and employment.
8. Integrating together the results for existing mines, new projects and exploration success.

The study assumes that there is a 90% chance that over the next forty years the gold price will lie between $793 and $2258 per ounce, with an average price of $1524 (in constant 2017 A$). Today’s price is ~A$1650/oz. The key results are summarised in two sets of charts.

• Figure 1 shows the “mean” (or average) forecast gold production over the next forty years for Australia,
broken down by source (from existing mines, known new projects and exploration success).
• Figure 2 shows the trend (and degree of uncertainty) in the overall forecast number of mines, gold
production, employment and revenues for the industry under different possible scenarios. Although
there is a wide range of outcomes, the overall trends are clear.

Figure 1 shows that over the short-term (i.e. the next 5 years) production is dominated by existing mines. Output from these mines will remain steady for the next two years (with 9.7 Moz produced in 2017) then quickly decline thereafter. In forty years-time only four of the current 71 mines will still be operating – with most closing down over the next two decades. This includes iconic mines like the Kalgoorlie Super Pit and Telfer. MinEx
forecasts that, by 2057, the remaining mines will produce less than 0.4 Moz pa of gold.

In the medium term (i.e. 5-10 years out) an increasing amount of production will be supplied from new mines based on known deposits. However, it won’t be enough to offset the decline from existing mines. By 2057, output from new projects will only total 0.3 Moz pa.

Many of these new projects are only economic under high gold price scenarios.

In the long term (i.e. 10-40 years out) exploration success will play a major role in overcoming much of the looming shortfall in gold production. The model forecasts that, over the longer term around $677 million pa will be spent on gold exploration in Australia (slightly up on current levels), resulting in 266 new gold deposits being found over the next forty years. Half of these will be developed, and will contribute 4.06 Moz pa of gold in 2057. This is equal to 87% of the combined total production of 4.69 Moz pa in that year. Consequently, in forty years-time almost all of Australia’s future gold production with come from exploration successes.

It is significant to note that the model predicts that in 15 years-time (i.e. by 2032) half of Australia’s gold production will come from mines that are yet to be discovered. However, of serious concern is the fact that the weighted average delay between discovery and development for a new discovery is 13 years. There are also indications that it is getting harder and slower to convert a discovery into a mine. Consequently, government and industry need to support exploration today. We only have the next couple of years to properly identify and address ways to improve our exploration performance – otherwise Australia
runs the real risk of a significant supply disruption in the medium-term.

Figure 2 shows that over the next forty years, gold production and revenues are set to drop by half – to 4.69 Moz and A$7.3 billion respectively. The number of operating mines is set to fall by a third (from 71 to 47) and total employment by 70% (from 27,980 to 8.300 workers). Half of the fall in employment is associated with productivity gains associated with automation.

Sensitivity studies indicate that each additional dollar spent on exploration generates an extra $11.40 in revenue.

MinEx estimates that for the Australian gold industry to maintain production at current levels in the longer term, it will either need to double the amount spent on exploration or double its discovery performance (i.e. reduce unit discovery costs from $70/oz to $35/oz). The incremental benefits of reaching this target will be an extra 4.05 Moz of annual production, an extra $6.23 billion in revenues and additional 7160 jobs.

The above-mentioned outlook is premised on “business-as-usual”. The opportunity exists for industry and government to take the initiative to invent its own future. In addition to developing policies that encourage/stimulate exploration, the opportunity also exists to be more efficient and effective at making
discoveries. The challenge is that many of these initiatives require effort (and money) and will take several years to bear fruit.

Given the long lead times involved (both for R&D, discovery and mine development) there is an urgent need to
start the process now.

TABLE 1: LIST OF SPONSORS FOR THE STUDY

The 12 sponsors of the study are:

• Association of Mining and Exploration Companies (AMEC)
• Australian Institute of Geoscientists (AIG)
• Centre for Exploration Targeting (CET)
• Chamber of Minerals and Energy of Western Australia
• CSIRO
• Deep Exploration Technologies Cooperative Research Centre (DET CRC)
• Department of Industry, Innovation and Science
• Geoscience Australia
• Geological Survey of Western Australia Geoscience Australia (GSWA)
• Northern Territory Geological Survey (NTGS)
• NSW Department of Trade & Investment, and the
• South Australian Geological Survey

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2092 on: October 17, 2017, 09:08:16 AM »
https://www.silverdoctors.com/gold/gold-news/peak-gold-australia-edition-the-land-down-under-in-trouble-underground/

Thanks AZ, Was aware of the issue.  Peak Gold is here, mine production to slowly decline from here. Only a price over 3500 an oz would reverse it slightly in the short term. Grades are plunging and costs are prohibitive. Ten years now just to get a permit with massive up front costs before an oz comes out of the mine. 

Invest in Gold, speculate in gold mines.  Two very different entities. 

                                     
1867 20 P61
1867 20 P61
 



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How a watershed space explosion created trillions of tons of gold
« Reply #2093 on: October 18, 2017, 02:28:43 PM »
https://www.salon.com/2017/10/18/how-a-watershed-space-explosion-created-trillions-of-tons-of-gold/


This image from NASA's Hubble Space Telescope shows the Crab Nebula, the remnant of a supernova explosion with a rapidly spinning neutron star embedded in its center. In October 2017, astronomers detected the merger of two neutron stars some 130 million light-years away.(Credit: Getty/NASA)

How a watershed space explosion created trillions of tons of gold
Salon explains how neutron stars make gold — and why the first detection of a galactic collision is such a big deal

Keith A. Spencer10.18.2017•12:20 PM

A collision of two neutron stars some 130 million light-years away sent out a huge shockwave — first, through the universe, and later, through the internet. Perhaps you saw the headlines whizzing around your news feed, e.g., “First Detection of Gravitational Waves from Neutron-Star Crash Marks New Era of Astronomy,” as Space.com wrote — which sounds pretty dramatic. But if you don’t know what the words in the beginning of that headline mean (gravitational waves? Neutron stars?), you probably won’t understand the end of the headline, and why exactly this marks a "new era."

This is indeed a big deal for astronomy. Science has ever directly observed a neutron star merger; particularly, this merger was observed both via gravity waves as well as electromagnetically. And the collaborative nature of the observations is unprecedented: around 4500 scientists, from every continent, will be listed as co-authors in the forthcoming paper. That's around a third of all professional astronomers. So yes, this neutron star merger is an astronomically big deal indeed — for science, for humanity, and for the future of astronomy.
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How The 2017 Emmys Became the Nicole Kidman Circus
By Vanity Fair 10.01.2017  •  6:47 PM

What just happened?

Two neutron stars collided and turned into a black hole. This is called a kilonova, as distinct from a nova, supernova, or hypernova, which are other kinds of stellar explosions that you may have heard of.

Does that… happen often?

I mean, in the history of the universe, probably yes. But since the advent of gravitational wave astronomy on our planet, no.

What is a neutron star?

Okay, you know how atoms have protons, neutrons, and electrons in them? And you know how protons are positively charged, and electrons are negatively charged, and neutrons are neutral?


Yeah, I remember that from watching Bill Nye as a kid.

Totally. Anyway, have you ever wondered why the negatively-charged electrons and the positively-charged protons don’t just merge into each other and form a neutral neutron? I mean, they’re sitting there in the atom’s nucleus pretty close to each other. Like, if you had two magnets that close, they'd stick together immediately.

I guess now that you mention it, yeah, it is weird.

Well, it’s because there’s another force deep in the atom that’s preventing them from merging.

It’s really really strong.

The only way to overcome this force is to have a huge amount of matter in a really hot, dense space — basically shove them into each other until they give up and stick together and become a neutron. This happens in very large stars that have been around for a while — the core collapses, and in the aftermath, the electrons in the star are so close to the protons, and under so much pressure, that they suddenly merge. There’s a big explosion and the outer material of the star is sloughed off.

Okay, so you’re saying under a lot of pressure and in certain conditions, some stars collapse and become big balls of neutrons?

Pretty much, yeah.

So why do the neutrons just stick around in a huge ball? Aren't they neutral? What's keeping them together?

Gravity, mostly. But also the strong nuclear force, that aforementioned weird strong force. This isn't something you'd encounter on a macroscopic scale — the strong force only really works at the type of distances typified by particles in atomic nuclei. And it's different, fundamentally, than the electromagnetic force, which is what makes magnets attract and repel and what makes your hair stick up when you rub a balloon on it.


So these neutrons in a big ball are bound by gravity, but also sticking together by virtue of the strong nuclear force.

So basically, the new ball of neutrons is really small, at least, compared to how heavy it is. That's because the neutrons are all clumped together as if this neutron star is one giant atomic nucleus -- which it kinda is. It’s like a giant atom made only of neutrons. If our sun were a neutron star, it would be less than 20 miles wide. It would also not be something you would ever want to get near.

Got it. That means two giant balls of neutrons that weighed like, more than our sun and were only ten-ish miles wide, suddenly smashed into each other, and in the aftermath created a black hole, and we are just now detecting it on Earth?

Exactly. Pretty weird, no?

So what's all this "nuclear pasta" stuff that's been trending on Twitter? Doesn't that have to do with neutron stars?

In physics, we often like to talk about the differences between the quantum world and the everyday world. They have fundamentally different rules, and merging the rules of behavior of very small things and very large things has been a challenge for physicists for a century. Sometimes we see the effects of quantum mechanics on a macroscopic scale — lasers are a good example — but generally, we define the macroscopic world by more general rules, like Newton's Laws.
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So understanding what a big ball of neutrons that is as dense as an atomic nucleus might look like, and how it might behave, involves a lot of computer simulations. Indeed, because of some of the "impurities" in neutron stars -- there are things like protons and electrons that get stuck to the surface — and because of how the star spins, different regions of neutron stars are thought to arrange themselves, on a quantum scale, in very specific lattices that resemble pasta, to put it bluntly. These are shapes that Newton's Laws would never predict, which is why our understanding of the macroscopic world and the quantum world have incongruities.

There's a good overview of nuclear pasta here, if you want to read more.

So what about this gravity wave stuff?

Ah, now we're getting to the weighty stuff (literally).

A century ago, Einstein predicted that there could be energetic waves produced by sudden changes in mass — say, two massive objects merging into one, like two black holes. But since gravity is a comparatively weak force — I mean, you can briefly overcome the entire planet's gravity by jumping — this was very hard to detect directly. Only in the past five years were scientists able to create gravitational wave observatories. 

What's a gravitational wave observatory? Like a telescope for looking at gravity?

Basically, but these look nothing like normal observatories -- no big glass lenses or anything.

The most functional gravitational wave observatory on Earth, the Virgo-LIGO collaboration, consists of three “telescopes” that are actually just really long buildings with lasers running through them. A gravitational wave of sufficient strength that passes through the building will make the laser wiggle back and forth very slightly.
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The reason there are multiple gravitational wave observatories is to help confirm that signals are not just noise and to figure out the direction they’re coming from. In other words, a signal from a black hole merger might hit the Virgo observatory first (that's the one in Italy), and a fraction of a second later, hit the LIGO observatories (those are in Washington state and Louisiana). Or maybe vice versa. So having multiple ones helps accurately figure out the location of the signal.

(If you were wondering, "LIGO" stands for Laser Interferometer Gravitational-wave Observatory.)

This year, the Nobel Prize in Physics went to the scientists who helped detect gravitational waves for the first time. And while there have been many black hole mergers detected — that seems to be a common signal that sets off the observatory — this is the first time a neutron star merger was picked up by the telescopes.

So if we've detected gravitational waves on Earth before, what makes this event so special?

To understand that, you have to understand something called multi-messenger astronomy. It's basically the holy grail of astronomical observation.

You may remember a thing called the electromagnetic spectrum — that is, the range of different frequencies of light, or photons. Humans only see a very narrow band of this spectrum, what we call visible light. But some animals see higher frequency light, like ultraviolet -- bees, for instance -- and some animals see lower frequency light like infrared light -- cats, for instance. The electromagnetic spectrum goes all the way up to things like gamma-rays and x-rays, which are very energetic and don't make it too far through Earth's atmosphere before getting absorbed or broken up into less energetic photons. And at the bottom of the spectrum, there are radio waves, which do travel readily through our atmosphere.
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Earth astronomers now have a complement of telescopes in different wavelengths of light. These observatories can look quite different depending on their function. Radio wave telescopes generally resemble giant dishes: think of the Arecibo Observatory in Puerto Rico, featured in a famous fight scene in the climax of the James Bond film "Goldeneye." X-ray telescopes have to be in space, as the atmosphere blocks x-rays from penetrating to the surface. And gamma-ray telescopes typically only detect gamma-rays indirectly, by observing the constituent lower-energy photons that they break up and turn into upon hitting the atmosphere. When this kilonova explosion happened, observatories spanning all wavelengths from all over Earth -- and in space -- set their sights on the location of the merger, producing a wealth of data across the electromagnetic spectrum.

But when big, energetic events happen in the universe, often they release energy in other forms besides photons — such as gravitational waves, and sometimes tiny particles like the elusive neutrino. And so having a gravitational wave observatory to complement electromagnetic observatories is a boon for astronomers.

This was actually the first time scientists had witnessed an astronomical event that made its mark on Earth in both the electromagnetic spectrum and in producing gravitational waves. That's because previous gravitational wave events were generally of things like black hole mergers, which didn't emit any light or anything else that was detectable by other observatories. But this neutron star merger was the first multi-messenger event that used both gravitational wave observations in concert with electromagnetic waves.

 

You mentioned neutrinos briefly. Did the neutrino observatories pick up anything?

True, the third prong in multi-messenger astronomy is neutrino observatories. The reports from the IceCube neutrino observatory at the South Pole indicate that this neutron star merger actually didn't produce any neutrinos -- at least, not any that were pointed in our direction that were detectable on Earth. Still, the lack of detection is equally interesting, as it indicates to physicists that the physics happening in the kilonova did not create a huge blast of neutrinos the way that, say, supernovae do.

I read something about how neutron star mergers produce heavy metals like gold and platinum. How does that work?

To answer this question, it is important to understand that the composition of Earth is very different from the composition of most of the universe. Of the "normal" matter in the universe (meaning, not dark matter or dark energy), most of it consists of hydrogen and helium. Only a tiny fraction of elemental matter in the universe consists of things heavier than the two lightest elements, which means that much of Earth's composition — elements like carbon, iron, phosphorus, uranium, you name it — are comparatively rare. We live on an exceptional planet.

Stars are responsible for producing much of the universe's non-hydrogen elements. Through the process of nuclear fusion, smaller nuclei combine to become larger ones. Stars are basically stellar element factories: they convert hydrogen to helium and then higher elements, and produce heat and energy in the process. But there is a limit to the size of the atoms they can produce: iron is actually the heaviest isotope that is directly produced by fusion. By the time a star's core is dense enough that it's making iron, it has only a short amount of time to live before inevitably exploding or imploding in some fashion.
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So where do elements heavier than iron come from? As you may recall, iron is only the 26th element on the periodic table, meaning there are about 60 heavier stable elements, including things like silver, gold, lead, uranium, etc. The answer is complicated, but some of these elements are generated in hypernova explosions, when the matter in stars is compressed against other matter in ongoing shockwaves and nuclei are shoved into each other to produce small quantities of really heavy elements.

Similar things happen in kilonova explosions: the cascading waves of extremely dense particles collide and form really heavy isotopes of elements like gold and platinum. UC Berkeley astronomers estimated that this neutron star merger produced a "yield of gold [of] around 200 Earth masses," and "500 Earth masses" of platinum, per a press release.

To make a crude analogy: imagine if you had a bunch of little magnets spread across the floor, a few feet apart from each other. Imagine each one is a proton or neutron. Individually, they are only faintly attracted or repellant to each other. But if the floor suddenly tilted, they would all smash together and form one giant ball of magnets. Vaguely, that's what happens in these big stellar explosions that bind together smaller nuclei into bigger, heavier ones, creating elements like gold and platinum.
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Offline azozeo

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Re: Gold & Silver News
« Reply #2094 on: October 18, 2017, 02:47:49 PM »
Good read....
Thanks.

Offline azozeo

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Gold & Silver News-Gold & The Grand Canyon
« Reply #2095 on: October 20, 2017, 06:16:25 AM »
<a href="http://www.youtube.com/v/HvAequbZZLs&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/HvAequbZZLs&fs=1</a>

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Re: Gold & Silver News
« Reply #2096 on: October 20, 2017, 05:18:41 PM »
I can't figure out if Bix Weir is an insider. All these stories about Greenspan and George Kenemy and comic books.

The bottom line is all financial markets are rigged because the central bankers and esf have gazillions of dollars and other fiat.

Looks like they are pumping up bitcoin fast to make it the new world currency before Russia and China can thwart it by introducing legal tender cryptos.

Offline Eddie

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Re: Gold & Silver News
« Reply #2097 on: October 20, 2017, 05:40:58 PM »
Manipulated is right. All financial markets are manipulated.

I don't really know Bix Weir. I know I've probably read or watched him once or twice, but he didn't make much of an impression. I'll watch the video and get back to you.

Cryptocurrencies are just a new bubble, at the moment. But when the governments do go the crypto route, which appears to be coming, all financial privacy will end, and taxes will be increased until they can't be paid (see "End of the Roman Empire" for details.) I'd say that's inevitable.

When that happens, I'm selling off and sailing away.
What makes the desert beautiful is that somewhere it hides a well.

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Re: Gold & Silver News
« Reply #2098 on: October 20, 2017, 06:27:45 PM »
I didn't watch the video either, but in others I watched he says Greenspan and Kemeny, who invented the basic programming language, went to grade school together and that's why greenspan first used computers to do something or other with financial markets.

Also, weir says there are predictive programming comics on the boston fed website or something like that.

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Re: Gold & Silver News
« Reply #2099 on: October 20, 2017, 06:49:18 PM »
When that happens, I'm selling off and sailing away.

When that happens, it will be too late.  There will be no one left to buy and your assets will be worthless.

RE
SAVE AS MANY AS YOU CAN

 

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