The hoard contains, apparently, "70 billion tons of platinum, 7 billion tons of gold and many millions of tons of precious stones and metals."
It contained seven million times more platinum than has ever been mined in the history of humankind? Sure, sounds legit.
70 billion tons would be ten tons each for every man, woman and child on earth... Plus a ton of gold each... Where would they keep it and more to the point how much would it be worth?
ETA... 70,000,000,000 tonnes of platinum would be a cube of 165m on a side. That's a BIG lump of metal.
JULIAN: I recommend we try Per verulium ad camphorum actus injuria linctus est.
SANDY: That's your actual Latin.
HORNE: What does it mean?
JULIAN: I dunno - I got it off a bottle of horse rub, but it sounds good, doesn't it?
longdog wrote:
70 billion tons would be ten tons each for every man, woman and child on earth... Plus a ton of gold each... Where would they keep it and more to the point how much would it be worth?
ETA... 70,000,000,000 tonnes of platinum would be a cube of 165m on a side. That's a BIG lump of metal.
As with anything there's a glut of, its value falls until it eventually becomes worthless.
longdog wrote:
70 billion tons would be ten tons each for every man, woman and child on earth... Plus a ton of gold each... Where would they keep it and more to the point how much would it be worth?
ETA... 70,000,000,000 tonnes of platinum would be a cube of 165m on a side. That's a BIG lump of metal.
As with anything there's a glut of, its value falls until it eventually becomes worthless.
Not platinum and gold though... They're SHINY!!!!
There's a mathematical problem for someone... If everybody on earth had ten tonnes of anything would it still have any positive value at all or would people pay to have it taken away?
JULIAN: I recommend we try Per verulium ad camphorum actus injuria linctus est.
SANDY: That's your actual Latin.
HORNE: What does it mean?
JULIAN: I dunno - I got it off a bottle of horse rub, but it sounds good, doesn't it?
The hoard contains, apparently, "70 billion tons of platinum, 7 billion tons of gold and many millions of tons of precious stones and metals."
It contained seven million times more platinum than has ever been mined in the history of humankind? Sure, sounds legit.
70 billion tons would be ten tons each for every man, woman and child on earth... Plus a ton of gold each... Where would they keep it and more to the point how much would it be worth?
ETA... 70,000,000,000 tonnes of platinum would be a cube of 165m on a side. That's a BIG lump of metal.
If everyone had 10 tones of platinum, a loaf of bread would cost 500 pounds. So everybody would be exactly where they were before they received the platinum, only using bigger numbers to buy things.
I remember once, maybe twenty years ago, that some bean-counter at General Motors decided that, since the Corvette was their most profitable (per unit) vehicle, at about 30,000 cars per year, they could generate enormous profits by building a million of them.
Someone pointed out to the moron that the high profit margin was, in large part, due to the exclusivity. There weren't enough Corvettes to satisfy everyone who wanted one, which drove the price up. Making a million of them would eliminate that exclusivity, and the per-car price would have to drop drastically.
The same exclusivity is what makes gold, silver and platinum valuable. If everyone has tons of it, it becomes worthless.
Zeke_the_Meek wrote:
It contained seven million times more platinum than has ever been mined in the history of humankind? Sure, sounds legit.
70 billion tons would be ten tons each for every man, woman and child on earth... Plus a ton of gold each... Where would they keep it and more to the point how much would it be worth?
ETA... 70,000,000,000 tonnes of platinum would be a cube of 165m on a side. That's a BIG lump of metal.
If everyone had 10 tones of platinum, a loaf of bread would cost 500 pounds. So everybody would be exactly where they were before they received the platinum, only using bigger numbers to buy things.
I'm not sure it would affect the price of bread at all unless coins were made from platinum and even then there's a huge difference between legal coinage and having a huge lump of the stuff legal coinage is made from. I could have a enough nickel/brass alloy to make a million quid in pound coins but that doesn't mean it's worth a million quid. I reckon a loaf of bread would still be a pound(ish).
JULIAN: I recommend we try Per verulium ad camphorum actus injuria linctus est.
SANDY: That's your actual Latin.
HORNE: What does it mean?
JULIAN: I dunno - I got it off a bottle of horse rub, but it sounds good, doesn't it?
What it comes down to, is that if EVERYONE has that much gold, platinum, whatever, then EVERYONE is exactly the same as they were before. That much of any of those metals would then be of no more value than the dirt in your back yard. No different than if everyone gets a bazillion dollars from the magic dragons, you're still in the same boat you started out in. It's the scarcity of the metal that makes it valuable.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.
There might be a parallel universe where gold is the most common metallic element so that's what all the coins are made of. The freemen in that universe will bemoan the fact that worthless fiat currency is no longer tied to the tin standard.
JULIAN: I recommend we try Per verulium ad camphorum actus injuria linctus est.
SANDY: That's your actual Latin.
HORNE: What does it mean?
JULIAN: I dunno - I got it off a bottle of horse rub, but it sounds good, doesn't it?
Given a plentiful supply, platinum would be a fantastic industrial metal since it is more resistant to corrosion than stainless steel, etc, has good high temperature properties, admittedly it is a bit heavy but it is strong. Catalitic processes that might not be economically feasible would be possible.
With tons of gold, using gold instead of zinc or tin for treating sheet steel would be possible. Platinum alloys with other metals might be useful, too.
Siegfried Shrink wrote:Given a plentiful supply, platinum would be a fantastic industrial metal since it is more resistant to corrosion than stainless steel, etc, has good high temperature properties, admittedly it is a bit heavy but it is strong. Catalitic processes that might not be economically feasible would be possible.
With tons of gold, using gold instead of zinc or tin for treating sheet steel would be possible. Platinum alloys with other metals might be useful, too.
Will never happen - how will get their tin foil hats supplied ?
Gold would be better than aluminium foil for hat making. It has been used for millenia as a royal head protection in the form of crowns in various shapes and sizes, so that must be some ancient wisdom or something. Ancient wisdom is far better than new wisdom, so it must be better. Those ancients must have really known their stuff, some lived 900 years although most were lucky to make it forty, and they died of practically everything that it was possible to die of except bathroom shower accidents.
It would certainly be better looking and has a madieaval flavour if you use a woven wire hairnet thing, which would also look a lot more attractive.
he hoard contains, apparently, "70 billion tons of platinum, 7 billion tons of gold and many millions of tons of precious stones and metals." 7 kilos of nightsoil
I am willing to help out here, anyone with any redundant gold, you know, lying around in your attics, bottom of the freezer, in the garage, that sort of thing, would you just let me know and I will come round and clear it out for free. I also offer a similar paper collection service for redundant fiat currency.
Tell you what, I am willing to forgo my future gold payout for the measly sum of £50,000 right now.
"There is something about true madness that goes beyond mere eccentricity." Will Self
“If," ["the management consultant"] said tersely, “we could for a moment move on to the subject of fiscal policy. . .”
“Fiscal policy!" whooped Ford Prefect. “Fiscal policy!"
The management consultant gave him a look that only a lungfish could have copied.
“Fiscal policy. . .” he repeated, “that is what I said.”
“How can you have money,” demanded Ford, “if none of you actually produces anything? It doesn't grow on trees you know.”
“If you would allow me to continue.. .”
Ford nodded dejectedly.
“Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.”
Ford stared in disbelief at the crowd who were murmuring appreciatively at this and greedily fingering the wads of leaves with which their track suits were stuffed.
“But we have also,” continued the management consultant, “run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship’s peanut."
Murmurs of alarm came from the crowd. The management consultant waved them down.
“So in order to obviate this problem,” he continued, “and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and. . .er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances."
The crowd seemed a little uncertain about this for a second or two until someone pointed out how much this would increase the value of the leaves in their pockets whereupon they let out whoops of delight and gave the management consultant a standing ovation. The accountants among them looked forward to a profitable autumn aloft and it got an appreciative round from the crowd.”
Douglas Adams - The Restaurant at the End of the Universe
Our future is like that of the passengers on a small pleasure boat sailing quietly above the Niagara Falls, not knowing that the engines are about to fail. James Lovelock.
It seems yesterday that nutty neelu printed off her swissindo junk (on bOND PAPER!!!1!!!) and marched off to the Coop bank to clear her mortgage. A sensible thought given you imminent eviction.
29 Aug 2017: Well I duly printed off my www.swissindo.net documents, in colour, the DBLC, the M1 Master Bond and the photo ID, trotted along to the Co-operative Bank in Holborn London, worked out on currency converter the equivalent in GBP of $1,200,000 (only £926,069.28 hehehe) filled out my credit slip...oh the excuses...."You need to have a current or savings account with us" "You may not pass the credit rating if you apply to open a new account" "The bond must be printed on bond paper" hehehe easily done..."We cannot accept more than the money you owe on your mortgage" "You need to ask for a Mortgage Redemption figure and put the exact amount" hehehe "We are not refusing it" "Indonesian Supreme Court cannot dictate to any other country [Oh yes they can if the UK people want their share of Gold being looked after by Indonesia whilst all Governments are cheating their people of the Gold Prosperity.] hehe - if anyone else is up for this in a different bank, please take pictures hehehe
She's mysteriously silent on the final outcome......
SteveUK wrote:It seems yesterday that nutty neelu printed off her swissindo junk (on bOND PAPER!!!1!!!) and marched off to the Coop bank to clear her mortgage. A sensible thought given you imminent eviction.
29 Aug 2017: Well I duly printed off my http://www.swissindo.net documents, in colour, the DBLC, the M1 Master Bond and the photo ID, trotted along to the Co-operative Bank in Holborn London, worked out on currency converter the equivalent in GBP of $1,200,000 (only £926,069.28 hehehe) filled out my credit slip...oh the excuses...."You need to have a current or savings account with us" "You may not pass the credit rating if you apply to open a new account" "The bond must be printed on bond paper" hehehe easily done..."We cannot accept more than the money you owe on your mortgage" "You need to ask for a Mortgage Redemption figure and put the exact amount" hehehe "We are not refusing it" "Indonesian Supreme Court cannot dictate to any other country [Oh yes they can if the UK people want their share of Gold being looked after by Indonesia whilst all Governments are cheating their people of the Gold Prosperity.] hehe - if anyone else is up for this in a different bank, please take pictures hehehe
She's mysteriously silent on the final outcome......
You mean them showing her the door and telling her to GO AWAY!!! sort of final outcome. She really is stark staring bonkers.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.
