[Brass Lamp]

Folks, THIS is ALSO why metal-based currency is a bad idea. One breakthrough, and BOOM! all the world’s gold becomes dirt cheap.

Right! Because non-metallic currencies don't inflate./s

The US dollar closed the 20th century at about 1/20th of the value it represented at the beginning. Most of that loss of value occurred after the dollar was unhitched from silver. I have a hard time believing that we were ever near discovering TWENTY times as much silver as we've collected in more than 7,000 years.

[Honest Nigerian]

I have a hard time believing that we were ever near discovering TWENTY times as much silver as we’ve collected in more than 7,000 years.
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The vast majority of gold on hand worldwide was mined after 1950. Not sure about silver, but I would recommend that you look into this for yourself. I mean, I have all kinds of opinions. But it is nice to investigate stuff and see what the facts are.

[dangus]

>> Right! Because non-metallic currencies don’t inflate./s <<

Not overnight. We’re not talking about a 30% drop in value over a year; we’re talking a 97% drop in value in a matter of weeks.