brenthutch 389 #1 February 3, 2012 It is interesting to note the parallels between gold and oil. Both are commodities, both have a finite supply, although it could be argued that oil is not, as it can be made out of several sources, unlike gold; which despite the alchemists' best efforts can be made only in the crucible of large dying stars. Gold production, like oil production, has increased as prices have gone up. Production, which in the past was not economically viable, is now a profitable endeavor. Yet one does not see a clamoring for an alternative to gold. "We are running out of gold and we need to find a replacement before it is too late;" "We must subsidize the unicorn fart market before we run out of gold;" "Gold production is horribly toxic and we must develop green alternatives." Commodity vs. commodity. Discuss Quote Share this post Link to post Share on other sites
SpeedRacer 1 #2 February 3, 2012 To increase gold production, we should subsidize the Leprechauns. We'll pass the law on St Patricks Day , so everyone will go along with it. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
brenthutch 389 #3 February 3, 2012 I like the cut of your jib! Quote Share this post Link to post Share on other sites
billvon 2,475 #4 February 3, 2012 >Yet one does not see a clamoring for an alternative to gold. That's because we don't burn it as fast as we can. Quote Share this post Link to post Share on other sites
GQ_jumper 4 #5 February 3, 2012 Quote To increase gold production, we should subsidize the Leprechauns. We'll pass the law on St Patricks Day , so everyone will go along with it. Where the hell is the "like" button on this webiste?Or the "Rike" button for our asian friends.History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites
jakee 1,280 #6 February 3, 2012 QuoteIt is interesting to note the parallels between gold and oil. Both are commodities, both have a finite supply, although it could be argued that oil is not, as it can be made out of several sources, unlike gold; which despite the alchemists' best efforts can be made only in the crucible of large dying stars. And note the differences: When we use oil, we turn into something that is not oil, and can't be made oil again. When we use gold, it's still gold.Do you want to have an ideagasm? Quote Share this post Link to post Share on other sites
masterrig 1 #7 February 3, 2012 Quote Quote To increase gold production, we should subsidize the Leprechauns. We'll pass the law on St Patricks Day , so everyone will go along with it. Where the hell is the "like" button on this webiste?Or the "Rike" button for our asian friends. Which raises the question... Do they get a lot of Wong numbers in China Town? Chuck Quote Share this post Link to post Share on other sites
skiskyrock 0 #8 February 3, 2012 Quote Gold production, like oil production, has increased as prices have gone up. Production, which in the past was not economically viable, is now a profitable endeavor. Yet one does not see a clamoring for an alternative to gold. "We are running out of gold and we need to find a replacement before it is too late;" "We must subsidize the unicorn fart market before we run out of gold;" "Gold production is horribly toxic and we must develop green alternatives." Commodity vs. commodity. Discuss Gold mining is a toxic nightmare. In the developed world we use cyanide leaching to recover gold for low grade ores, and you get things like the Baia Mare spill: http://en.wikipedia.org/wiki/2000_Baia_Mare_cyanide_spill In the developing world, they use mercury to amalgamate the gold, the separate the amalgam and boil off the mercury with a torch to give the metallic gold. This is the largest single use of metallic mercury in the world. Both practices are strongly opposed by environmental groups. Alternatives are used for gold wherever possible in industry. Back in the 80's I was part of a project (Berg GXT) to develop a replacement for gold in electrical contacts. In grad school I developed a catalyst based on gold, and my advisor told me to find another one that doesn't use gold. So I developed one using platinum. He was not amused. In science and engineering, gold is the metal of last resort, used when nothing else will work. Quote Share this post Link to post Share on other sites
JohnRich 4 #9 February 3, 2012 QuoteQuoteIt is interesting to note the parallels between gold and oil. Both are commodities, both have a finite supply, although it could be argued that oil is not, as it can be made out of several sources, unlike gold; which despite the alchemists' best efforts can be made only in the crucible of large dying stars. And note the differences: When we use oil, we turn into something that is not oil, and can't be made oil again. When we use gold, it's still gold. Yep, oil is a perishable product: you use it up, and then it's gone forever. Gold is never used up - it just changes shape, but is retained forever. And oil is plentiful enough to be sold at a perishable price, where we're willing to buy it at $4 per gallon, use it up, and forget about it. While gold is so valuable that a tiny little ounce of it is worth $1,600, and we horde that forever. Quote Share this post Link to post Share on other sites
quade 3 #10 February 3, 2012 QuoteWhile gold is so valuable that a tiny little ounce of it is worth $1,600, and we horde that forever. Correction . . . it's worth $1,600 an ounce because some people think it's worth $1,600 an ounce. The metal's intrinsic worth is questionable at best. It's rare, but it's not particularly useful other than as a decoration.quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
kelpdiver 2 #11 February 3, 2012 QuoteQuoteWhile gold is so valuable that a tiny little ounce of it is worth $1,600, and we horde that forever. Correction . . . it's worth $1,600 an ounce because some people think it's worth $1,600 an ounce. The metal's intrinsic worth is questionable at best. It's rare, but it's not particularly useful other than as a decoration. It's not useless - its conductivity and malleability, resistance to oxidation do make it viable for many functions. It's a better, if less attractive substance for dental crowns. But you're correct that most of the value is build on a pyramid of false demand. Most gold is used for jewelry - we would survive just fine without that. And a considerable portion of the demand now is by investors and inflation phobics buying into this hedging bubble. So to the OP, no, the difference between gold and oil is not actually that interesting. Quote Share this post Link to post Share on other sites
quade 3 #12 February 3, 2012 QuoteIt's not useless. I didn't say it was useless. I said, "it's not particularly useful other than as a decoration." I understand there are several applications where it might even be the absolute best material to use. We just generally don't use it that way. There are typically other materials that work well enough and make far more sense in terms of economics. There is a difference.quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
headoverheels 292 #13 February 4, 2012 Quote Yet one does not see a clamoring for an alternative to gold. I clamored my ass off, but my fiancee didn't see it that way. Quote Share this post Link to post Share on other sites
ltdiver 3 #14 February 4, 2012 Quote Quote While gold is so valuable that a tiny little ounce of it is worth $1,600, and we horde that forever. Correction . . . it's worth $1,600 an ounce because some people think it's worth $1,600 an ounce. The metal's intrinsic worth is questionable at best. It's rare, but it's not particularly useful other than as a decoration. Many uses for gold in the medical field. My favorite one is listed on the last paragraph of this article. Perhaps I should invest! You think? http://www.gold.org/technology/uses/medicine/ Don't tell me the sky's the limit when there are footprints on the moon Quote Share this post Link to post Share on other sites
pirana 0 #15 February 4, 2012 Quote Or the "Rike" button for our asian friends. You are so bad." . . . the lust for power can be just as completely satisfied by suggesting people into loving their servitude as by flogging them and kicking them into obedience." -- Aldous Huxley Quote Share this post Link to post Share on other sites
SkyDekker 1,154 #16 February 6, 2012 QuoteOr the "Rike" button for our asian friends. ror Quote Share this post Link to post Share on other sites
Marinus 0 #17 February 6, 2012 QuoteCommodity vs. commodity. Discuss I we would run out of gold tomorrow, it would suck a bit, but we would get over it. If we would run out of oil tomorrow, a lot of us would die and civilization would collapse. Quote Share this post Link to post Share on other sites
rehmwa 2 #18 February 6, 2012 QuoteI we would run out of gold tomorrow, it would suck a bit, but we would get over it. If we would run out of oil tomorrow, a lot of us would die and civilization would collapse. perhaps - but drownings in oil would reduce to zero and if it would save just one life....... ... Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants Quote Share this post Link to post Share on other sites
DanG 1 #19 February 6, 2012 Quoteand if it would save just one life....... Especially if it is a child's life. - Dan G Quote Share this post Link to post Share on other sites
SkyDekker 1,154 #20 February 6, 2012 How would we possibly run out of gold? Quote Share this post Link to post Share on other sites
Marinus 0 #21 February 6, 2012 Quote Especially if it is a child's life. Imagine how the world would be if Einstein had drowned in oil as a child.... Quote Share this post Link to post Share on other sites
Marinus 0 #22 February 6, 2012 An evil super villain could steal it and launch it into the sun with rockets? Quote Share this post Link to post Share on other sites
popsjumper 2 #23 February 6, 2012 Goldfinger! My name is Bond. James Bond.My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
billvon 2,475 #24 February 6, 2012 >How would we possibly run out of gold? Once gold-burning SUV's become popular it won't be long. Of course they'll need tax breaks - otherwise who'd be able to afford an SUV that burned gold? Quote Share this post Link to post Share on other sites
Coreece 190 #25 February 6, 2012 Quote Quote Especially if it is a child's life. Imagine how the world would be if Einstein had drowned in oil as a child.... Or aborted... *everybody, this is a hijacking...just stay calm and nobody will get their feelings hurt!*Your secrets are the true reflection of who you really are... Quote Share this post Link to post Share on other sites
