Silverback...do you thin the Au is being consumed (used up), or just being hoarded as coins or jewelry? Ag is consumed,in a variety of forms,and lots of times can't be economically recovered. You know the products better than I do, but there is loss in photography, dental work, tossed out electronics, etc, so that , over time, the amount of silver available in society and in the ground decreases.
The only major losses for Au which I can think of is all the wealth Davy Jones has acquired over the years, some dental loss (loss, not floss), and maybe a bit in electronics; the rest is still there, altho maybe not visible.
Also, Americans are no longer used to the idea of gold as the universal standard. Too many years of total acceptance of paper which they feel represents the US. I don't really know how to put into words exactly what I mean, but anyway, people trust the paper, and it has been a long time since the daze of double digit inflation . Fortunately, we have never had bad inflation here (but that is also unfortunate, because most people are ignorant of the possibility).
Also, somebody asked you "who gives a Rat's ass?" I do, altho it is better to get than give, and I'm not talking rats.
wharf Rat |
