[boatbums]

If this is true, it would mean the value of gold would go to nothing almost instantly. And the value of mercury to soar.

Well the Bible does speak about a time:

“They will throw their silver into the streets, and their gold will be treated as a thing unclean. Their silver and gold will not be able to deliver them in the day of the Lord’s wrath. It will not satisfy their hunger or fill their stomachs, for it has caused them to stumble into sin." (Ezekiel 7:19)

[marktwain]

“They will throw their silver into the streets, and their gold will be treated as a thing unclean. Their silver and gold will not be able to deliver them in the day of the Lord’s wrath. It will not satisfy their hunger or fill their stomachs, for it has caused them to stumble into sin.” (Ezekiel 7:19)

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Many think the Spanish Empire went bust because of the “cheap” gold and silver they got from the new world.