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> That did happen, in 1940! Gold production fell in half for years. And the gold price subsequently fell. Can I see evidence of this? Using this[1] paper and t
by intev 6y ago
> That did happen, in 1940! Gold production fell in half for years. And the gold price subsequently fell.
Can I see evidence of this? Using this[1] paper and this[2] article I can see gold production by no means halved and gold prices did not fall.
[1] https://ies.princeton.edu/pdf/E15.pdf https://ies.princeton.edu/pdf/E15.pdf
[2] https://www.thebalance.com/gold-price-history-3305646 https://www.thebalance.com/gold-price-history-3305646
- graeme 6y agoI was going off this chart. Looking more closely, somewhat less than half but close https://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/World_Gold_Production_1900-2014.png/800px-World_Gold_Production_1900-2014.png https://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/Wo... However, your first source indicates a drop substantially less than half, so perhaps the chart I looked at is not correct? For the price I was looking at an inflation adjusted chart. In constant dollars the price seems to have stayed the same. Typing this out I now realized this must have been the gold standard and my comment was completely incorrect on this point re: gold. The price fell in real terms as it was pegged. https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Gold-nominal-constant-usd.svg/800px-Gold-nominal-constant-usd.svg.png https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Go...