<Since 1980, primary mine production produced 1.34 billion ounces.There are currently about 4Boz above ground, so the increase would have been from about 2.66 to 4.00, up 50%
From 1970 (all the data I have), 1.75 billion ounces were produced, which would be an increase from 2.25 to 4.00, up 78%>
Your numbers may be better than mine, the numbers I have are
1980: 100,000 to 105,000 ton of gold
2001: 136,000 tons.
<Almost 50% of all the gold mined in all of human history was mined in the last 35 years (or so). >
And what is the percentage of global money stock that was printed in those same years...Huh ! 80-90% !!!
Simply amazing!!!
What is important here is the numbers of dollars, Euro and other papers available to buy each ounce available. |
