Gold doesn't look undervalued to me at $1400 an ounce. If I want gold, I can start a gold mine and get it a lot cheaper than that. The stuff is just sitting there in the ground and suspended in the oceans waiting to be collected. So are; aluminium, iron, uranium, mercury, lead, titanium [which I like], silver, molybdenum, sulphur, germanium, silicon, arsenic, carbon and gallium. Then there's lots of sodium, chlorine, calcium, potassium and phosphorus. Silica is very tricky. Optical fibre can deliver cyberspace at the speed of light at low cost around the world.
I can dig for gold, which is expensive to excavate, just sort of sits there and there is already thousands of tons of the stuff stored in vaults and holes in the garden, or I can dig for silica which can be cheaply made into thousands of kilometres of optical fibre to do something amazingly useful [mobile cyberspace]. ElM is stringing Angola in fibre. It's really useful. A gold rock just sits there doing nothing.
Digging for silica is easy - just load hundreds of tons of it into a truck from a beach. Or get the recycling truck to swing by the factory before taking the rest of it to the dump or to fill in a swamp or sacred wetland as swamps are called these days.
Mqurice |
