I checked - the median Zimbabwean income is about 5% of the median Australian income (about $970 international dollars per annum) - so half the population earns less than that. A third of Zimbabwe gold production is companies, the balance artisanal.
Is the crypto boom & bust just part of 'every bubble being pricked' in wider market sell-off?
- Thread starter grubstake
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I guess they will need to read blogs here to find out who is stashing it
Seriously though, it would be a bit difficult to buy your groceries each week at Woollies or your hardware at Bunnings with such a stash. especially with government Elliot Ness' chasing you with machine guns......
A bit irrelevant to me because I do not believe such a total collapse likely (even in the 1930s depression only a third of companies went under in the USA, and only a similar proportion of the population were unemployed). 25% unemployment in USA at its peak but 32% in Australia. Pain yes, major inflation yes, a miserable time yes.
But I will back gold before crypto nevertheless.
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This shows how effectively the USA kept the gold price flat for 40 years from 1933 (when gold was shooting up and they banned private ownership) to around 1974 when they permitted private ownership again. This is the risk when gold prices surge suddenly so as to threaten fiat currency.
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I first became aware of Rhodium and its many uses including its reflective properties both visual (mirrors of the highest quality) and sound waves due to its ultra smooth surface, when I purchased a set of Flares Pro 2 HD earbud headphones. They're machined using brass then plated with a good layer of rhodium. Sound quality is superior to virtually all other earbuds on the market, they cost $750 about 3 years ago and the company "Flares" sold out very quickly.
Rhodium uses and how they mine it "interesting and educational" follow the link.
https://newagemetals.com/what-is-rhodium-and-why-is-it-so-valuable/
Yes, it will possibly always be limited in supply because for each ounce you have to mine 10 or more ounces of platinum and palladium (depressing their price). I have sometimes wondered if there might be certain ores (non-igneous) in which it occurs in a different ratio and I have seen values of up to 500 ppm rhodium in rock grab samples in some such rocks (without associated palladium and platinum). But life is too short to follow everything up.......
They talk about the depth of mining being a limiting factor, but the deepest South African platinum mine (Zondereinder) is only 2.2. km deep compared with up to 4 km on the gold mines (a depth I have been to) - the primary reason being that the temperature per metre depth in the platinum mines is much higher in the platinum mines than the gold mines. However they will not run out for hundreds of years. The South African covid lockdown was quite ineffective and if you believe the South African covid statistics you will believe anything. It was very unpopular (even alcohol and cigarettes were banned and you had to stay home and not go to work) - pity this would require translation. Cyril is Rhamaphosa of course, gatvol - well gat is ar***hole and vol is full. A loslappie plays hard, parties hard.....zol is a joint, Tops a bottle store name.
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