So, the other day I was roaming around YouTube trying to kill time when I came across a documentary about gold mining. It picked my interest and I ended up watching other documentaries related to rare metals industry.
I came to realize that there are much risks involved in the business i.e. considering the deep mines which can easily collapse among other occupation related risk. the cost of mining is enormous I mean we are talking billions of dollars annually.
I came to try and find out what really makes the diamonds and gold, and sadly there isn’t that much value in gold anymore that can justify that the amount of risk and cost undertaken. The few industrial uses can be supplemented by the already mined rare metals that have already flooded the market.
A couple of years back gold was valuable because it was used as a form of currency but currently we have more sophisticated economies which don’t require gold anymore and instead the resources used in mining of rare metals like gold and diamonds should be better spent on production of other value providing goods like cement factories or other services that bring value to the community.
For guys with knowledge about the rare metals industry help me understand reasons that justify the mining of rare metals in the 21st century.
Unasumbua, tuko kwa memorial ya mzito matiba sisi watu was murang’a na wewe ni kiherehere tu.
Come later huku tukunyue jug Daniels ya bure.
For now shhhhhhhhhhhhh!
:oops:
DRC has almost all the valuable minerals, in the world, but look at them now, the conflict in siera Leone, was all about diamonds, Charles Taylor ako ndani, reason ,diamonds this thing is a curse.
kuna some rare minerals which are used to power up your electronics including that smartphone you are using
on diamonds being expensive it’s just marketing. The same way Maina Kagayni can sell you a mbuloti in Chalbi Dessert for millions is the same way De beers made diamonds expensive. It’s just how dasani ni 20bob but executive water ya Anerlisa wa Keroche costs more yet all are water
watch this college humour doc n you will understand how diamonds became expensive
A few rare metals, such as rhodium and platinum, have a use value that justifies their prices. However, minerals such as gold, silver, and diamond are used to store value by those with too much money and who want to protect their wealth from inflation or economic downturn. We may consider them to be a form of money. Their persistent rarity is what sustains their value. Otherwise that status would cease is someone stumbled upon a huge deposit of the minerals. At some point in the 19th century, aluminium was rare and more expensive than gold. That was before people learnt how to extract it. In summary, these minerals are a form of money for the big boys.
You seem to be having issues man I hope you get through whatever you are going through.
Good will remain remain valuable as long as there are quarter’s toying going back to the Gold standard.
Africa has huge gold reserves, and one we decide to peg our currency on gold, we will devalue alot of major world currencies, and even cripple some economies.
That’s kind explains why a good percentage of precious metals ends in the western capitals.
You are aware Gadaffi had started coming up with an African currency pegged on gold, and he was smoked out.
You are the one with issues if by now you have never known the scarcity of diamonds is man made. There are tonnes of that shit hidden somewhere.
FYI I got no issues only that am drunk.
And for good will, fuck you.
Economics at the Apex of the Pyramid, my fren.
In simple, plain words: GOLD & Co. are used to STORE WEALTH, by nations (central banks/ federal reserves buy and hold tonnes and tonnes of gold, platinum and silver bars) and the super-rich individuals.
Also, mostly traded by the ultra-rich, rare works of art, which are much, much more valuable than gold and platinum, serve the same purpose, even though they can be displayed in mesiums to generate revenue as well.
The planet will continue to be foraged for rare metals for a long, long time into the future. Of course until huge deposits are discovered some place as someone has noted, or when the last grain is scooped out from the core of the earth.
Talking of rare metals.
When I was growing up there used to be those pressure stoves that had that golden colour. Many families Nairobi had them. Someone discovered that the metal that was used to make those stoves was precious and suddenly local thieves switched from snatching women’s pocket books to stealing stoves. It got so bad that families that had those stoves started extinguishing those stoves inside their homes rather than outside as was the norm.
Mamosi onajaa kwa nyumba. https://www.lotterypost.com/emoticons/smilielol.gif
Even money is worthless…karatasi tu
Wee mzito @kanguthu hukuniambia ni wapi nitakuja kutafuta muhiriga wa Sarah huko kwenu.Wa golden palm ni wajanja sana,atleast hapo tu ndio najua.
The worth that i consider in these metals is the human cost involved in the extraction.
The cleaner they are, the greater their worth.
Sio kama zile za DRC. Mother raped, daughter raped. Father killed for refusing to rape daughter.
Perpetrators are doing this to keep the illicit metal trade going.
Niaje msee wa Eastlando. Sisi LA tulikua na gas cooker 
:D:D:D:D:D:D:D:D:D:D:D:D:D:D
Sema mkubwa, joo Sunday nikuunganishe na 0.5 ya mjapanese daughter ya rafiki yangu pia Mimi naammezea mate lakini siwezi. Usikaniangushe anarudi kwao 05/02, kama huwezani uniambie.
Wacha nijipange nikuje
Dasani 20 bob iko wapi Ngombe?
Nyinyi mlikuwa in the future siku za Moi. Makaa na stove ndio zilikuwa zetu.
My Thieving 101 involved kununua paraffin ya 17/= ndio ninunue Kaimati tatu @1/=https://www.lotterypost.com/emoticons/smilielol.gif I’m glad I didn’t progress.
Most economies are moving away from the shitty dollar so gold is good bet as a store of value. Diamond is crap for comparisson it would be much if it were not supply controls by major companies ama cartels. Its also plenty, compared to gold.