logoalt Hacker News

fuzzfactor • today at 2:43 AM • 1 reply • view on HN

A good portion of that has been hoarded since biblical times, and has not been in actual "circulation" ever.

Replies

defrost • today at 6:08 AM

What percentage is "A good portion" ?

  Gold mining dates back to ancient civilisations.

  Our best estimates suggest that around 216,265 tonnes of gold have been mined throughout history.

  Interestingly, about two-thirds of this gold has been extracted since 1950.

  This massive increase in production has been due to advancements in mining technology and the discovery of new gold deposits.
* https://www.gold.org/goldhub/data/how-much-gold

200 Years of Global Gold Production, by Country - https://elements.visualcapitalist.com/200-years-of-global-go...

  Between 1500 and 1650, the Spanish imported 181 tons of gold and 16,000 tons of silver from the New World ...
* https://www.quora.com/How-much-gold-did-the-Spaniards-take-f...

What's your estimate for the tonnage of gold "hoarded since biblical times" ?

➕ show 1 reply