Submitted by SD Contributor SRSrocco:
I at times have wondered just how much gold there is in the world. I have read some of these articles and reports of the so-called hidden huge hoards of gold.
The legends of Yamashita’s gold discovered in the Philippines by General MacArthur’s Chief of Intelligence claim the treasure weighs in at over 300,000 metric tons of gold.
While these conspiracies sound nice on paper… if we look at the historical gold-silver ratio of production, we may find some answers.
I have had an email exchange with David Zurbuchen some years ago. He did the research and wrote the article THE WORLDS ACCUMULATIVE GOLD AND SILVER PRODUCTION. Zurbuchen doesn’t just use one source…. he uses 4-5.
If we look at the total figures of both gold and silver production we can see the historic ratio:
Average Cumulative World Silver Production= 44.542 billion ounces
Now, for the total world gold production:
Average Cumulative World Gold Production= 4.25 billion ounces
Again, both of these gold and silver figures are up until 2004. If we do some simple math:
44.54 billion oz silver / 4.25 billion oz gold = 10.5 to 1 RATIO
In 2011, the world produced the following:
2011 TOTAL GOLD = 87 million oz
2011 TOTAL SILVER = 762 million oz
2011 GOLD-SILVER PRODUCTION RATIO = 8.75 to 1
We must remember, the gold-silver production ratio was higher 300-2000 years ago. So, the 10.5 to 1 overall ratio of silver production to gold seems very plausible. I highly doubt a huge amount of gold was produced over and above what was stated in Zurbuchens article and from the World Gold Council.
If there was this supposed 50-100,000 extra metric tonnes of gold hidden in secret hoards, then it would certainly skew the gold-silver historic production ratio substantially. Even if there are hidden stashes of gold, I highly doubt they are large enough to make much of a difference.
So, if we consider the COMMON SENSE APPROACH of the GOLD-SILVER PRODUCTION RATIO…. there really can’t be huge amounts of gold hidden as it does not pass the historic geological ratios…. that is gold and silver in the ground.