Putin brings back gold standard. Was that his plan all along? America is doomed!!

zymurgy said:
yes - we are.

from the very beginning. like bitcoin - we can mine all the gold. that was the topic.

you play your little games - but you lost. and you know you lost. as losers do.
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Hypothetically, what would you do with a potential venture that discovered an asteroid passing within mining distance with current technologies? Let's say the reason for this venture is that this particular asteroid is mostly made up of precious metals and weighs several tons.
 
zymurgy said:
shit stains post pictures when they loses debates

hi shit stain
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you-full-blown-crazy-crazy.gif


dr-phil-bat-shit.gif
 
danielpalos said:
Hypothetically, what would you do with a potential venture that discovered an asteroid passing within mining distance with current technologies? Let's say the reason for this venture is that this particular asteroid is mostly made up of precious metals and weighs several tons.
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I do not understand your question. if a new source of gold was found, gold prices would likely hemorrhage. I would do nothing - the barrier to entry precludes me from participating
 
danielpalos said:
Hypothetically, what would you do with a potential venture that discovered an asteroid passing within mining distance with current technologies? Let's say the reason for this venture is that this particular asteroid is mostly made up of precious metals and weighs several tons.
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The Golden Globe asteroid. I always wondered what happened to those awards! :D
 
zymurgy said:
I do not understand your question. if a new source of gold was found, gold prices would likely hemorrhage. I would do nothing - the barrier to entry precludes me from participating
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Gold prices? What do you call the standard by which you measure any price in any currency?
If gold is the prevalent currency, 20oz's of gold is still 20oz's of gold.
 
danielpalos said:
Let's keep it within the range of right-wing possibility potential and claim it is at the bottom of the ocean and we need the technology to get at it.
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Okay. It's actually no so far from the truth anyway. Underwater volcanic activity concentrate gold and other minerals into mine-able quantities, essentially laying out like a giant layer cake. That's why gold runs in veins, and you have to follow the vein to mine it.

Now. You will need to develop technology to not only handle the pressures of underwater mining, but also underwater mining near volcanic activity. Then you have to make it practical.

How much is it worth the gold you are going to get versus the cost of developing and implementing such technology? (Of course, the same thing could be said about an asteroid of gold too).

Somehow, I don't think that's a profitable venture.
 
Into the Night said:
Okay. It's actually no so far from the truth anyway. Underwater volcanic activity concentrate gold and other minerals into mine-able quantities, essentially laying out like a giant layer cake. That's why gold runs in veins, and you have to follow the vein to mine it.

Now. You will need to develop technology to not only handle the pressures of underwater mining, but also underwater mining near volcanic activity. Then you have to make it practical.

How much is it worth the gold you are going to get versus the cost of developing and implementing such technology? (Of course, the same thing could be said about an asteroid of gold too).

Somehow, I don't think that's a profitable venture.
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I agree with you that we should fund research and development into those technologies that help make it more cost effective to mine precious metals.
 
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