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Even if it is "junk" (which is not, because these are mostly your brands produced to your standards), you can not produce them cheaply enough to consume them, so better correct your thoughts.
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It should be called The worlds biggest Gold Reserves holdings, and this is why:
Gold: World Frenzy
In the past 10 years the price has increased 6 times and now around U.S. $ 1.600 an ounce. In September 2011 was a record U.S. $ 1.923 an ounce.
A gold bar can be 10 or 30 kg, coming from the Congo Basin, the heights of Canada or the virgin jungle of Peru. There is no difference. Gold is gold. In the world there are more than 20 million people engaged in the extraction of gold metal and according to the Organization of the United Nations Industrial Development Organization (UNIDO) at least 1.5 million are women and children. The average cost of producing an ounce of gold is U.S. $ 800 and needs to be removed, at best, 1,000 tons (MT) of mountains or sand to get a kilo of gold metal.
In 2010 world production was 2,500 tons and 30.700 tons estimated that there are still unexplored. China is the largest producer with 345 tonnes, followed by Australia (255 tonnes) and USA (230 tonnes). World reserves are estimated to be 51,000 tons. American power leads with 8.134 tons, distributed in a dozen banks.
Germany (3.401 tons) and the International Monetary Fund (2.814 tons) complete the hat trick. Peru has its own fever producing 170 tons per year and having 35 tonnes in bank reserves, second only to Venezuela (323 tons) and Argentina (55 tons) in the Latin American map. According to the Ministry of Energy and Mines, the proven reserves amount to 1,970 to explore Tm, which entered the top ten worldwide. The following five photographs global gold frenzy.
Peru is the 5th largest gold producer and is in the top ten countries with the largest untapped reserves, according to the World Gold Council
Lawless China
The Asian power, despite being the largest producer, its people buy on average 0.26 grams, well below the world average and leading consuming country, Vietnam, which takes 0.85 grams per capita per year.
The "boom" Chinese gold dates back to early 1990 when the Chinese state, with its opening to capitalism privatized gold mining concessions. The communist Chinese mines were taken over by domestic private companies. "They bought the deposits at a very low, but now they sell it to a maximum acceptable price," said Dai Xiaobing, general manager Trend Precious Metals Resources. Over the years, the rapid growth revealed a hidden deficiency state centralism. Small-scale miners and local investors were not prepared for large businesses. "Those who know the investment did not understand the business of gold and understand those who do not dominate the market," wrote journalist Huang Qiuli.
The arrival of Western entrepreneurs soon with financial jargon and encouraged the Chinese miners to do business in London and New York. But the cunning western bounds and was not buying virtual gold, which fell on speculation the price, that brought and brings more of a headache for the World Gold Council (BMC). Chinese police estimated at 7 000 Western companies, with offices in Beijing, engaged in illegal business. "Everybody talks about illegal gold speculation, but what takes shape and are points that regulators should clarify," says Liu Shan'en, a researcher at the University of Economics and Business in Beijing. That loophole spoken by Professor Liu is a characteristic portrait of the enormous market power. While some change, jewelers from all over China will continue to arrive every morning Shuibei district of Shenzhen, north of Hong Kong racing to buy gold like Chinese snack.
The New Cocaine
In 2006, then Colombian President Alvaro Uribe announced with great fanfare the plan "Mining Country Colombia 2019". It took 6 years and last February the current president, Juan Manuel Santos, had to announce the suspension of mining concessions. The massive influx of drug cartels, criminal gangs, guerrillas and paramilitary groups in the gold business alerted the Colombian authorities, who saw no other way to cut the dangerous society.
40% of Colombian territory (114 million hectares) is under concession to mining projects. The last 5 years the country known coffee almost quadrupled its gold production. From 15 tons in 2007 went to 56 tons, registered in 2011. The northern department of Antioquia is extracted more than 50% of the precious metal in that country. The militias have much to do. According to Colombian media and a report by Spanish newspaper Público, the drug lord Daniel "Loco" Barrera dominates gold and has 13 municipalities over 500 bulldozers removing land 24 hours a day. The Black Eagles criminal band, which formed the Unit Self-Defense Forces of Colombia (AUC), gets its funding from gold extracted from the Alto del Buey in the National Park of the Farallones in Cali. The Revolutionary Armed Forces of Colombia (FARC) are also in the gold business. The Colombian newspaper El Espectador in late 2010 revealed that the paramilitary group controlled 15 mines in the province of Bolivar. "The FARC uses taxation, grants permission to mine, payment rates for ore and even participating as equity partners in the purchase of machinery which is then rented to the direct exploitation of many mines," complained Alfredo Rangel, Director of Security and Democracy Foundation, told the BBC.
The adage "Gold is better than coca" is imposed in the northern country, which was known during the Conquest as "El Dorado".
"Zama Zama," South African
In 1970 the South African gold production accounted for 70% of the world. Today, 42 years later, barely 10%. Despite the low numbers, the African country has a bright future for others. According to international estimates, the subsoil contains Johannesburg 36 000 tonnes of gold, ie one third of world reserves unexplored.
If anything characterizes the South African gold is coming from deep underground. XV Blyvoor mine, operated by DRD Gold Inc, extract the precious metal to 1.8 kilometers below the surface and temperatures that can reach 50 ° C. "The rusty cage is shaken with a bang.
Whistles that pierce the ears, while the temperature and humidity are oppressive. After endless decline, the elevator stops completely: DRD Blyvoor No. l, at 15, 783.08 feet, a sign says. There was still an hour to walk on sharp rock fragments to reach the workplace ", described in January Sharda Naidoo journalist after visiting the dreaded mine.
But amid ingots and South African caves have appeared "Zama Zama-". The Zulu language word meaning "those who take advantage of their opportunity," or simplified language "golden thieves." You do not have an exact number of how many "Zama Zama," there are in South Africa but official estimates claim that handle about 10% of gold produced. The misdeeds, mostly ex-miners, venture into the mines to extract for 6 months, hidden from the owners, the precious metal. "Fly the rocks without the necessary security measures and work without ventilation or air conditioning.
Not enough water to minimize dust clouds and operate in the midst of an atmosphere of mercury that penetrates the skin and the respiratory tract, "reported the South African newspaper Mail & Guardian. Individual can earn up to U.S. $ 13 billion a year. According to Dick Kruger, president of the Chamber of Mines of South Africa, China and India, after a stopover in Mozambique and Swaziland, are the destinations of this gold illegal. "We do not steal, use without permission" is the phrase as they present the "Zama Zama-".
Revived Dorado
Canadian northwest and temperatures reaching -30 ° C, the madness gold who portrayed Charlie Chaplin in "The Gold Rush" (1925) and Jack London in his remarkable stories, has again revived in Yukon after nearly 40 years of inactivity.
It was August 1896, an expedition led by George Carmack found alluvial gold deposits on the Klondike and Yukon rivers and low mountains over 4000 meters. Quickly the California gold rush (1848-1855) moved to the Canadian province. Although reaching the Yukon could take nearly a month, the city became cool to have 40 thousand inhabitants. Since everything starts over, the gold business died and gave way to tourism. "The Yukon Gold Trail", was called the package sold to agencies and lasted 20 days. It is estimated that 70 years of "boom" in Yukon were extracted about 12.5 million ounces of gold.
High metal prices have made gold in the last 3 years 34.022 reaperturen mining concessions, and the number is growing at an average of 15 thousand per year. "They have to do it secretly, Office of Conservation. They worry that no one to come to claim their awards, "said Janet Bell-MacDonald, Registrar mining Dawson City in The Wall Street Journal. With GPS and new technologies, the resurrected retake Yukon miners, but they have in the huge white mountains and the main obstacle. The numbers have increased avalanche dead miners and adventurers too.
Teuton Mystery
Germany, seen as the saving strength of the Euro zone, has the second largest reserve of gold in the world. Are 3.401 tonnes of the precious metal contained in their official documents, but its location in a global mystery.
The miracle of the Federal Republic, developed post World War II, forced many of its exports are paid in gold. In 1968, Germany held 4,000 tons of gold reserves. For reasons of logistics and cost all that metal was never removed from its territory to the United States, where most countries kept their reserves. During the Cold War grew the mystery, especially since stores
Bundesbank in Frankfurt, according to experts, seemed too uncertain for such booty.
When the price of gold rose in 2000, uncertainty gripped the treasure hunters. In 2004 the then head of the Bundesbank, Hans-Helmut Kotz, told Stern magazine: "Most of our gold reserves are in the U.S. Federal Reserve, the Bank of England and the Bank of France, in that order ". Nobody believed him. The problem of German mystery is further fuelling wild speculation of the precious metal.
MINING NEWS - Today: Gold: World Frenzy
