Is there enough gold, silver, platinum, diamonds in the world to serve as the medium of exchange in international trade?

Similar questions: gold silver platinum diamonds world serve medium exchange international trade.

No. Not all entities (countries) are endowed with some of those things. Africa, which is heavily endowed, is exploited by those who have none of their own or want more.

Did you know that Africa has one of the largest mineral reserves in the world. GoldenLion 14 months ago .

Africa demonstrated gold could be used as a medium of exchange. Africa used gold to secure the exchange of oil between Saudi Arabia and United Emirates. This caused sharp surges in the price of gold.At the time the dollar remained weak but stable against other foreign currencies.

Gold prices jumped from $270 an ounce to $375. Africa produced 56% percent of the world gold and is rich in energy in Angola and Nigeria. GoldenLion 14 months ago .

Maybe only certain countries with large mineral reserves will be able to use Gold as a international currency exchange. GoldenLion 14 months ago .

In this article only 30% of the global gold market comes from South Africa. However, other parts of Africa may contribute to the global gold supply.1. Africa is the major producer of gold, producing up to 30% of the global production.2. South Africa is one of the global leaders in gold production.

South Africa holds 35% of the global gold resources and exports 99% of the gold output, outputting in the 2000s 428 tons.3. Zimbabwe, Tanzania, Mali, and Ghana are gold producers. In 2001, Ghana produced 72 tons of gold, in 2001 – Zimbabwe produced 18 tons of gold, in 2001 Tanzania produced 34 tons of gold, in 2001 - Mali produced 41 tons of Gold, and Guinea produces 10 tons of gold yearly.4.

Low grade rock ore produces 1.3 grams of gold per ton of rock. South Africa averaged 5.1 grams of Gold per ton.5. (http://www.mbendi.com/indy/ming/gold/af/p0005.htm) GoldenLion 14 months ago htm).

suite101.com/content/kalgoorlie-sightsee... Super Pit is approximately 3.5 km long, 1.5 km wide and 360 m deep. •It will eventually grow to be approximately 3.9 km long, 1.6 km wide and more than 600 m deep. •The Super Pit is mined 24 hours a day, 365 days a year.

•Although they look like toy trucks from the visitor lookout, the workhorses of the Super Pit are 34 giant Caterpillar 793 mining trucks costing $AU4 million each. Each truck weighs 166 tonne and has a payload of 225 tonne. It costs about $AU26 thousand just to replace a single tyre.

•Truck drivers work a 12 hour shift managing 18 loads per shift. 232,000 tonnes of ore and earth are moved from the Super Pit each day. •The Super Pit is expected to be mined out and closed in 2017End Quote GoldenLion 14 months ago com/content/kalgoorlie-sightseeing-super-pit-a67742.

en.wikipedia.org/wiki/Super_Pit_gold_min... Super Pit owned by Barrick Gold producedsQuoteThe mine produces 850,000 ounces (28 tonnes) per year of gold, and employs around 550 employees directly on site. End QuoteGolden Mile lode system : In 2009, 690,000 ounces were mined or 19.5 metric tons. GoldenLion 14 months ago org/wiki/Super_Pit_gold_mine.

NO, not by a factor of 100,000 or so. All the world's gold is not "worth" 1% of what's traded every day. Something like 98% of trade happens by bits moving through the Internet, not by scalawags on camels carrying lockboxes of jewels.

Are you hoping that the yuan or euro will become the exchange currency. The problem is these currencies are tied to the dollar. The world currencies are all affect by the dollar, if the US, China economies do not remain strong.

If America, Canada, and Mexico form a currency than international trade may resume by exchanging the dead currency for the new currency, localized to the Western hemisphere. However, the world will want a global currency.In the past, the global currency has been the dollar. The dollar is barely on life support, but the continual $18 trillion of debt predicted by CBO and the $50 trillion of long term liabilities connected with Medicad and Medicare will threaten principle and interest payment capability.

Debt affects each level of debt. The cascade affect of the demishing dollar is to bring the glass house crashing down. A mountain of Junk Bond debt has a terrible 27% default rate in a 10 year period of time.

The sustained government spending will cause the dollar to decline. Don't hope that CDS will stop the $590 trillion derivatives market from sliding into chaos. We live in perilious times.

Do you like gold? GoldenLion 14 months ago .

Zimbabwe issued a $100 trillion bill. Zimbabwe faced hyperinflation. Zimbabwe used gold to trade for items.

Villagers panned for Gold to buy food. People panned for Gold in the rivers and destroyed the river. Everyone was digging for gold both old and young.

GoldenLion 14 months ago .

You've been listening to TV and radio. You DO realize that ads are trying to sell you on something that will make you poorer and them richer? You do realize that companies do not put ads out there for fun?

I'd guess 94% of ads are not doing you a favor. They're trying to convince you that something is worth a whole lot more than it is, and that you need it a whole lot more than you really do. Think of the last ten things you've bought.

How many of them are a disappointment, a whole lot less exciting than what the ads promised? Any ad trying to sell you gold is selling you a dream. The dream is that gold will go UP in value or the dollar will go DOWN in value.

The problem is that they get real money, up front, from you. You get a lick and a "promise". You don't even get a good deal on the gold-- it's usually gussied up in the form of "Krugegrrands" or some other glossied-up object, with the real value of the gold disguised so you don't immediately see that you've lost 30 to 60% right off the bat.

Where do you think they get the millions to put on those ads on TV and the radio every 15 minutes? They get it from suckers that pay $100 for $60 to $30 of gold. If you enjoy wallowing in the thought that everybody around you will be wearing barrels and suspenders, while you'll be rolling on gold, go ahead.

There are approximately 9,000 taste buds on the tongue.

homeworkspot.com/know/howmanytastebuds.h... site claims there are 10,000 taste buds GoldenLion 14 months ago htm.

If so, what are the consequences for the US.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.