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> That $20 trillion won't be $20 trillion with the added supply. Very true. However, the value of having access to cheap gold and platinum is worth even more f
by geon 15y ago
> That $20 trillion won't be $20 trillion with the added supply.
Very true. However, the value of having access to cheap gold and platinum is worth even more for sure.
Only, that value won't be concentrated around the mining company, but the society as a whole.
- lmm 15y agoThe whole thing reminds me of the Spanish in the New World. They spent a lot of time and effort mining silver, the price crashed to 20% of what it had been, and as a country they were outcompeted badly by the Netherlands, their former possession (and somewhere that had few resources and little manufacturing). Good for the world as a whole, but not so good for Spain.
- WalterBright 15y agoThe problem was that Spain misjudged what was valuable in the New World. They colonized it in order to loot it, when the real value was actually in the enormous economic productive potential.