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South African Gold Production Dives Again To 90 Year Lows

Tyler Durden's picture


From GoldCore

South African Gold Production Dives Again To 90 Year Lows

Gold’s London AM fix this morning was USD 1,646.75, EUR 1,262.26, and GBP 1,052.57 per ounce.

Yesterday's AM fix was USD 1,662.00, EUR 1,271.61 and GBP 1,057.93 per ounce.

Gold fell more than 2% in New York yesterday and closed at $1,643.80/oz. Gold fell in Asia and its low hit $1,635.66/oz and high of $1,649.9/oz, and is now trading sideways in Europe at $1,647.05/oz.

Gold recovered some strength on Thursday after a drop in the prior session attracted bargain hunters, however a strong dollar and diminished expectations of more QE in the US made the yellow metal vulnerable to more selling.  

Gold has dropped around 8% since late February as institutional funds appeared to have closed out of their bullish gold bets on worries the Fed will not embark on another round of QE to keep interest rates and borrowing costs low.  The dollar hit an 11 month high against the yen and a 1 month peak against the euro on Thursday on growing hopes of a US economic recovery and continuing rises in U.S. bond yields. 

South Africa's gold output fell again in January and was down a very large 11.3% in volume terms in January.  Annual gold production is set to be close to 220 tonnes which is a level of gold production not seen since 1922 (see chart below). 

The falls were seen only in the gold market with production of other minerals holding up with total mineral production down only 2.5% compared with the same month last year.

South Africa as recently as two decades ago was the world's largest producer of gold by a huge margin. Only 40 years ago South Africa produced more than 1,000 tonnes of gold per annum but will only produce some 220 tonnes in 2012. Production peaked in 1970 and has been falling steadily and sharply since.

The nearly 80% fall in South African gold production has led to it being recently overtaken by China, Australia and the U.S.  It is now even at risk of being overtaken by Russia.

The scale of the collapse is such that it is worth considering the possibility that the Apartheid regime may have exaggerated the size of South African gold production. Indeed, similar questions could be asked of the massive increase in China's gold production in recent years and whether Chinese gold production tonnage figures are exaggerated.

The massive 11.3% decline in South Africa was more than even that seen in December when gold output fell by 8.2%.

The continuing output decline is due to many of the country's biggest gold mining operations having reached the ends of their lives and having closed down.

Old mines that are still operating are mostly getting deeper and deeper with safety concerns a limiting factor, while new operations coming on stream tend to be either small by comparison, low grade, or both.

South Africa's continuing gold production decline is not cyclical and is permanent and is another bullish factor for the gold market in the long term.

Geological constraints mean that there is little prospect of any serious reversal in the trend. Geological and the lack of any major gold finds anywhere in the world in the last 20 years also suggest that the supply side of the gold equation remains bullish.

The decline in South African production has been a major contributor to at best flat global gold production over the past few years. 

Indeed, some data suggests that global gold production may have peaked in the early 2000s.

In the light of the continuing strong fundamentals, this is another healthy correction in the gold market as investment demand is set to remain strong for the foreseeable future while supply remains tight.

Also, central banks are increasingly reluctant to sell their gold reserves and indeed some increasingly wealthy and powerful central banks are adding to their reserves or attempting to gain control of the reserves of smaller debtor nations.

For breaking news and commentary on financial markets and gold, follow us on Twitter.

Silver is trading at $32.30/oz, €24.75/oz and £20.61/oz. 

Platinum is trading at $1,673.00/oz, palladium at $689./oz and rhodium at $1,450/oz.


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Thu, 03/15/2012 - 08:54 | 2257241 cossack55
cossack55's picture

No sweat. Low demand for relics this time of year.

Thu, 03/15/2012 - 09:07 | 2257273 GetZeeGold
GetZeeGold's picture



Crap.......peak gold.


Thu, 03/15/2012 - 09:09 | 2257277 Pladizow
Pladizow's picture

Peak Resources + Peak Debt = Peak US War!

Thu, 03/15/2012 - 10:15 | 2257593 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Goled iz een eh bauble.

Thu, 03/15/2012 - 10:45 | 2257710 trav7777
trav7777's picture

ionic liquids and "new technology" can resurrect this.

In reality, geology plus the TRIUMPH OF DIVERSITY.  RSA is gone...cooked, fork.  Only if the white people rise up and secede from the nation will there be any reversal.

Thu, 03/15/2012 - 10:55 | 2257750 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Light sweet crude iz een eh bauble.

Thu, 03/15/2012 - 16:47 | 2259310 Schmuck Raker
Schmuck Raker's picture

Nothing sweet about 'im.

Thu, 03/15/2012 - 14:36 | 2258619 akak
akak's picture

Only if the white people rise up and secede from the nation will there be any reversal.

Once again, The Grand Wizard of the Kooky-Klux Klan has spoken --- it is all the fault of those fucking niggers.

And for those who are down-arrowing me, by doing so you are implicitly supporting the mindless, malignant racism of Trav7777.  Good job.

Thu, 03/15/2012 - 14:42 | 2258815 AnAnonymous
AnAnonymous's picture

Made me laugh.

Typical US citizen speech. US citizens are going to beat the environment.

Less and less gold underground but let US citizens in charge and you will get more and more of it.


Thu, 03/15/2012 - 14:47 | 2258828 akak
akak's picture

Ironic, this coming from a citizen of the most egregiously polluting, environmentally destructive, rapaciously resource-overexploiting, all-around blobbing-up regime in the world today.  Make me laugh!  But chinese citizenism is nothing if not hypocritical.

Thu, 03/15/2012 - 15:29 | 2258999 AnAnonymous
AnAnonymous's picture

If Chinese had been as environmentally destructive as US citizens, it would be known.

Once again, denial of the most obvious facts.

Thu, 03/15/2012 - 15:35 | 2259009 akak
akak's picture

If Chinese had been as environmentally destructive as US citizens, it would be known.

And it IS known, widely if not almost universally.

But not acknowledged by desperate defenders of an evil, totalitarian, censorship-happy and resource blobbing-up chinese citizenism regime such as yourself.

Once again, denial of the most obvious facts.

Like your wholesale rewriting of history, as demonstrated by your egregiously dishonest and bigoted babblings about Easter Island?

You make me laugh!

Thu, 03/15/2012 - 15:39 | 2259046 AnAnonymous
AnAnonymous's picture

Dishonest? How?

You brought nothing.

You created the fantasy that first contact had to be the lethal touch.

Never wrote something like that.

Contact with US citizens is what sank the islanders. Not contact with Europeans, pre US citizenism.

Chinese express their talent mostly on their own ground, US citizens have the whole world as their playground.

Once again, an issue of scale.

Thu, 03/15/2012 - 16:10 | 2259105 akak
akak's picture

Insane babbling, nothing more.

The fact that NO US ship ever even touched the shores of Easter Island prior to that population's decimation at the hands of European-introduced foreign diseases and Chilean slave traders means absolutely nothing to a dishonest and malignant troll like you, as it does not fit with your hysterical and irrational anti-American bigotry.  You are a gross liar and a troll of the most obvious kind.

Next, you will probably be blaming your mythical and meaningless "US citizenism" for the 2004 Indian Ocean tsunami, the Black Death (which originated in China, fyi), and the extinction of the dinosaurs.

Thu, 03/15/2012 - 09:40 | 2257426 SHEEPFUKKER

Buy Krugerrands!!

Thu, 03/15/2012 - 09:41 | 2257433 tarsubil
tarsubil's picture

Isn't it funny that the peak is 1970 right around the time Nixon closed the gold window? Perhaps this is Greshem's law and there is not much reason to dig gold out of the ground to just turn around and bury it again.

Thu, 03/15/2012 - 10:07 | 2257558 Born Patriot
Born Patriot's picture

This is another example of how multiculturalism destroys economies. The new multicultural South Africa, Zimbabwe and Namibia are all failures. Segregation is the ONLY way forward. Ron Paul is one of the few politicians in America who understands this, and he is our last chance.

Thu, 03/15/2012 - 11:48 | 2257983 trav7777
trav7777's picture

well, RSA gold production peaked long before the fall of apartheid.

Utter collapse like this in the face of depletion- this is the REALITY about which the intelligent and informed have been trying to warn people regarding the oil peak.  Resource depletion and decreasing production rates as a result thereof are fact. They are not conjecture and they are not theory.  Fact.

RSA's production collapse has been exacerbated by the handover of mines to people with no history of ever having mined anything anywhere, never having shown much interest in resource development for themselves, even if the resources were under their feet.  Never even knew the land had much value other than to say "me ownz dis."  You can witness the same trend historically in rhodesia as formerly very productive farms are now just weeds.  The natives weren't farmers or miners before colonization, why should we expect them to suddenly take it up after?  It's simply not in everyone's nature to mine things or farm things or develop civilizations.

Hell, some tribes there, such as the Massai, have only very recently graduated to agricultural ways of living instead of being nomads.  It is a continent full of primitive people.  They walk miles a day to get water from a well.  Nobody thinks to hey maybe we should drill down to the water table.  It's a leap of intelligence apparently out of reach of the population.

Thu, 03/15/2012 - 13:47 | 2258625 akak
akak's picture

Dum stoopid niggirs!  It's ALL their fault!

Thu, 03/15/2012 - 16:53 | 2259332 Schmuck Raker
Schmuck Raker's picture

Still afraid of Ron Paul, aren't you?

Why else the smear campaign?

Thu, 03/15/2012 - 11:57 | 2258076 Errol
Errol's picture

It is interesting to see that as economically recoverable SA gold resources are  depleted, production follows the same sort of gaussian curve as does oil production.  Down thread I expect to see claims from peak gold deniers about abiotic gold...

Thu, 03/15/2012 - 08:54 | 2257242 Quintus
Quintus's picture

In other news, Wall St. paper gold production is at all time highs - so no supply issues to worry about.  As long as you don't want any actual gold, of course.

Thu, 03/15/2012 - 09:50 | 2257471 GetZeeGold
GetZeeGold's picture



Here.....let me write you a check for that IOU.


Thu, 03/15/2012 - 08:55 | 2257244 jcia
jcia's picture

For some reason I smell bullshit. Why would the CIA make a Kony video if they don't want something out of Africa?

I am about to think its oil.

Thu, 03/15/2012 - 08:59 | 2257257 FubarNation
FubarNation's picture

Africa is the new middle east.

Thu, 03/15/2012 - 09:09 | 2257276 AnAnonymous
AnAnonymous's picture

US citizens left control of SA after taking care of oil. Depletion is showing signs there and they want to switch to nuclear energy because of oil depletion progress.

Africa is already well integrated in the US citizen world plan of depletion of resources. It is not dysfunctional as extraction works smoothly.

If you want fresh territories, go toward the former USSR territory, big poppa commie failed to consume its satellites at the US citizen consumption rate.

But as US citizens could not consume those territorities because they were big poppa commie's territories, well, you've got some room to grow the depletion of resources plan.

Thu, 03/15/2012 - 13:49 | 2258632 akak
akak's picture

Yes, the stellar record of Chinese citizenism in regard to resource overexploitation, environmental degradation, gross overpopulation and general blobbing-up is far superior to that of the round eyes.

Thu, 03/15/2012 - 14:45 | 2258822 AnAnonymous
AnAnonymous's picture

Behind US citizens's record.

Chinese are small league players.

Pushing them forward is an embarrassment when light catchers like US citizens are on the scene.

See what happens in South Africa. Not the job of Chinese but of US citizens.

Now quite a number of people are going to live on a depleted place.

Thanks to US citizens. Not Chinese.

Thu, 03/15/2012 - 15:08 | 2258833 akak
akak's picture

A few facts will rest my case:

Which nation has 300 million citizens, and which has 1300 million rabbit-breeding citizens living in roughly the same area?

Which nation is undergoing the most extreme rates of desertification in the world today?

Which nation is experiencing the worst rate of farmland loss due to urbanization in the world today?

Which nation is suffering the worst urban pollution in the world today?

Hypocrisy, thy name is chinese citizenism!

Thu, 03/15/2012 - 15:27 | 2258995 AnAnonymous
AnAnonymous's picture

At least, the Chinese are depleting their own area.

Or is there another US citizen scam like doing it to its own people?

US citizens are depleting the world.

The Chinese are depleting their land within the US world order, to serve the purpose US citizens assigned to them, that is soaking inflation as generated by US citizen economics.

What is that obsession with small players?

What next? That the negroes in Africa deplete their part of the african continent or something?

US citizen work. US citizen systemics at work.

Thu, 03/15/2012 - 09:04 | 2257265 BLOTTO
BLOTTO's picture

Oil or to mobilize troops in the area.

Thu, 03/15/2012 - 11:51 | 2258015 trav7777
trav7777's picture

I have people very close to me in Africom...this is a new frontier for the movement.

Africa is a resouce-rich continent occupied by people of very low average intelligence.  It will be the same challenge it has always been because civilization simply WILL NOT "emerge" there without almost unilateral imposition by "colonizers."

Thu, 03/15/2012 - 13:59 | 2258657 akak
akak's picture

Itz all a-bein' du fawlt of dem dum niggirs!

Thu, 03/15/2012 - 14:19 | 2258715 vato poco
vato poco's picture

Damn, dude, you're - what - 3-for-3 on cutesy "niggers!" rejoinders to anything that guy says now. Can't help yourself, can you? Y'know, based *solely* on your tired little 'shout him down!' or 'marginalize anything he says!' tactic, I'll bet you I can forecast with 100% accuracy what party you reflexively straight-ticket vote for in every election; and the sum total of your ideology.

Further, I can also predict you'll lie about it if you respond to this in any way that's not "niggers! or "KKK!"

Thu, 03/15/2012 - 14:34 | 2258770 akak
akak's picture

So the blatant, deep-seated, profoundly hateful, kneejerk racism of Trav is OK by you, but my mocking rejoinders to that racism is not?  Curious how your vitriol is directed at me and NOT at the one constantly spouting hateful, malicious racist bullshit.

As an aside, your assumptions about me are uniformly incorrect --- in fact, I have NEVER voted for any political candidate who has subsequently been voted into office, having usually voted Libertarian.

Thu, 03/15/2012 - 14:36 | 2258779 vato poco
vato poco's picture

Suspicion confirmed!

Thu, 03/15/2012 - 14:39 | 2258794 akak
akak's picture

Sockpuppet of Trav7777 much?

Thank you for demonstrating such a complete lack of intelligence that I can without hesitation now ignore all subsequent posts under your handle.

Thu, 03/15/2012 - 16:44 | 2259297 vato poco
vato poco's picture

Hell, while I'm showing off my massive prognosticationality skillz, having aced a) your political ideology and the fact that b) you'd deny it, I will now make yet another Amazin' Prediction: you'll have to answer back. Since, as everyone knows, angry leftists are simply unable to let someone else have the last word. They *have to* fire back a snotty little rejoinder, so they can tell themselves, "I won!", as well as satisfy their ingrained-by-the-profs "shout the heretic down!" urges. Y'all just can't NOT do it, can ya, Fidelito?

Time will tell....My guess is within the hour.

Thu, 03/15/2012 - 14:47 | 2258829 AnAnonymous
AnAnonymous's picture

Africa is a resouce-rich continent occupied by people of very low average intelligence.


Well, after US citizens departure, there will be much less resources. Much, much less.

Thu, 03/15/2012 - 15:10 | 2258899 akak
akak's picture

Since it is in fact the blobbing-up chinese who are establishing resource colonies in Africa all in the pursuit of ever-more furious rates of resource extraction, you would once again (as always) be wrong.  Your villians in this case are YOU chinese yourselves.

Hypocrisy, deceit and lies are the eternal nature of chinese citizenism.


Thu, 03/15/2012 - 15:21 | 2258964 AnAnonymous
AnAnonymous's picture

Chinese in Africa? They are laggers. Bear with it.

They are oceans behind US citizens.

What's that obsession with focusing on poor achievers?

US citizen dream is about high achievers, not losers.

Chinese are losers when it comes to extract resources in Africa.

US citizens, best, no comparison.

Thu, 03/15/2012 - 15:37 | 2259036 akak
akak's picture

If anyone here ever needed a demonstration of what an online troll is in its very worst manifestations, well, here it is.

Chinese citizenism: blobbing-up since 2000 BC.

Thu, 03/15/2012 - 15:41 | 2259057 AnAnonymous
AnAnonymous's picture

More ad hominems, more denial, more can kicking.

Only references to an exterior, to fantasy. Impossible to tackle reality as it is.

That is the result of US citizenism. That set of beliefs implemented from 1776, July, 4th on.

Well done.

Thu, 03/15/2012 - 16:13 | 2259129 akak
akak's picture

Go publicly pick your nose and spit on a sidewalk, chinese citizenism citizen --- those ARE your national pasttimes, after all.

You, however, are obviously VERY comfortable with the authoritarian, totalitarian set of chinese citizenism beliefs introduced by Chin Shi Huang Di in 246 BC.

Thu, 03/15/2012 - 08:58 | 2257253 FubarNation
FubarNation's picture

Those morons in "Gold Rush" better get their shit together and stop fucking around.

Thu, 03/15/2012 - 09:22 | 2257335 Long-John-Silver
Long-John-Silver's picture

They would have been dead broke long ago but for the money from the production of the show. They lost money the first year. The second year they found enough Gold so each of them got $8,000. This equates to working for $333.33 a month. A minimum wage job would pay $1,160 a month.

Thu, 03/15/2012 - 09:31 | 2257383 xela2200
xela2200's picture

Even worst than that, they invested their life's savings also. They could have sit at home getting interest from a CD.

Thu, 03/15/2012 - 10:02 | 2257534 MachoMan
MachoMan's picture

Actually, I don't think any of them had a pot to piss in except for old man hoffman...  they then begged and borrowed everything they could from other people.  They have an incredible amount of "SEE!  YOU CAN STILL DO THIS IN MERICA!  DETERMINE YOUR OWN FATE AND LIVE FREE!," but fail to acknowledge that it is america's disfunction that has allowed them the opportunity to squander others' money.  Tsk tsk.


Thu, 03/15/2012 - 11:52 | 2258030 trav7777
trav7777's picture

Gold Rush is an incredibly successful television show, one of the most popular on right now.

It's not about gold mining, it is a drama against the backdrop of gold mining, with some get rich quick undertones.

The TV show has made all the actors on it wealthy; the gold is just a TV prop.

Thu, 03/15/2012 - 10:05 | 2257553 carguym14
carguym14's picture

"Interest from a CD"


Thu, 03/15/2012 - 08:58 | 2257255 Jason T
Jason T's picture

Peak everything.. gosh.  The disintigration will continue.  There is no power great enough to stop it.  The only commercial activity left will be an all consuming parasitic speculation.

Thu, 03/15/2012 - 09:05 | 2257266 AnAnonymous
AnAnonymous's picture

There is no power great enough to stop it.


Stop it? US citizens have been working to achieve that state, depletion of resources.

Why speak of stopping it when you work to make it happen?

Thu, 03/15/2012 - 09:28 | 2257364 Jason T
Jason T's picture

meant the economic disintigration..not resource depletion.  

Thu, 03/15/2012 - 10:09 | 2257569 MachoMan
MachoMan's picture

were the residents of easter island us citizens or is there a more general or fundamental mechanism in play here?

Thu, 03/15/2012 - 14:50 | 2258842 AnAnonymous
AnAnonymous's picture

Nope, they were not.

That is the reason why they were going up after moving down.

Please revise your history on Eastern Islands.

As disappereance of these people did not happen because of resource depletion (they were overcoming their situation) but because of contact with US citizens.

Less cheap propaganda, more facts.

Huh, no, wont happen, this is a US world order. Propaganda reigns supreme.

Thu, 03/15/2012 - 14:59 | 2258856 akak
akak's picture


As disappereance of these people did not happen because of resource depletion (they were overcoming their situation) but because of contact with US citizens.

Make me laugh!

Seeing as how the United States was not even a nation when outside contact was first made with Easter Island, and how in any event ALL subsequent contacts of importance were made by Europeans and NOT Americans (including the French and British naval vessels which introduced various foreign diseases, decimating the population, and the Chileans who enslaved and slaughtered most of the remainder), your wild thesis is without foundation, and is just another demonstration of your rabid, irrational and sweeping anti-American prejudice and bigotry.

But thank you for proving your dishonesty (once again).

Thu, 03/15/2012 - 15:04 | 2258884 AnAnonymous
AnAnonymous's picture

Waooo, that is quite thick.

Could it be, I dunno, that the contact with non US citizens did not terminate the locals but the later contact with US citizens?

Where does it read that US citizens made the first contact?

Europeans? But US citizenism is a set of beliefs, it is not a nationality.

US citizens: proponents of the system known as US citizenism ('Americanism')

Once again, cheap offuscation.

Hey, I dont know, why not claim that the Chinese were responsible for the decline of these populations? Or I dont know, the negroes?

Everything to kick the can and avoid facing the face that contact with US citizens and their set of beliefs ('Americanism') sank the island.

Thu, 03/15/2012 - 15:13 | 2258922 akak
akak's picture

Evidently, historical facts mean nothing to you, as you apparently feel free to rewrite history willy-nilly to suit your seething, hate-filled prejudice.

You are insane.  Please shut the fuck up already.

Thu, 03/15/2012 - 15:18 | 2258949 AnAnonymous
AnAnonymous's picture

What historical facts?

Where does it read that the first contact was the lethal touch?

It reads that the contact with US citizens, that is proponents of 'Americanism' is what sunk the islanders.

Thu, 03/15/2012 - 15:21 | 2258965 akak
akak's picture

No, it was contact with Martians that sank them.

Chinese citizenism Martians.

Make me laugh!


Thu, 03/15/2012 - 15:24 | 2258981 AnAnonymous
AnAnonymous's picture

More fantasy, more can kicking.

US citizens, unable to deal with reality.

Thu, 03/15/2012 - 15:28 | 2258997 akak
akak's picture

Your anti-American trolling is utterly laughable in the depths of its ignorance, its hypocrisy and its desperate defenses of the rapacious and evil communist chinese regime.

Thu, 03/15/2012 - 15:32 | 2259014 AnAnonymous
AnAnonymous's picture

Sure, sure.

The denial of facts required by US citizens as a sign of submission is now way beyond the scope of ignorance.

Bear with it.

People targeting 'Americanism' have now the luxury of ignorance as the fantasy built by US citizens is too detached from reality to be accepted without consent.

Thu, 03/15/2012 - 15:42 | 2259054 akak
akak's picture


You chinese citizenism citizens have utterly bizarre thought processes (which is clearly part and parcel of your  insanity), do you know that?  Your garbled and distorted thoughts simply cannot be rationally translated into anything that resembles logic or intelligence.  Such is the eternal nature of public nosepicking, roadside shitting, environmentally destructive chinese citizenism.

Thu, 03/15/2012 - 15:43 | 2259061 AnAnonymous
AnAnonymous's picture

Logics? Made me laugh.

Sure, sure.

Keep building up fantasy instead of answering to the situation at hand is indeed the logical answer when you cant defend your position.

Very understandable when the position is US citizenism.

Thu, 03/15/2012 - 15:45 | 2259065 akak
akak's picture

It is a shame that your mother's pregnancy (one of at least ten, no doubt) was not one of the hundreds of millions of annual chinese-citizenism-enforced abortions in the Peoples Republic of Nose-Picking.

Make me laugh!

Thu, 03/15/2012 - 15:56 | 2259118 AnAnonymous
AnAnonymous's picture

More fantasy, more empty talking.

Unable to speak about themselves, unable to speak about what they do, always compelled to forge tales, well, those are US citizens.

Thu, 03/15/2012 - 16:06 | 2259148 akak
akak's picture

Somewhere in China, there are undoubtedly many piles of roadside turds with your name on them; you certainly have dropped far more than your share of them here as well.

Thu, 03/15/2012 - 09:03 | 2257262 AnAnonymous
AnAnonymous's picture

How is it surprising? US citizens aim for depletion of resources.

Somebody really believed they would relinquish control in the extraction ascending phase?

Of course not.

They aimed at depleting resources and only left the helm when the area was on the downside.

That is the way it is.

A scenario to be repeated in many, many areas of the world.

With the offuscation scenario as broadcast by US citizen propaganda: the area was much better managed when they were in charge etc Well known song.

The reality is they left the boat when it started to smell ugly, resources wise.

Gooooooing to be some fun because when those people are going to be trapped on resources depleted areas,well, they will have to thank US citizens.

Thu, 03/15/2012 - 09:07 | 2257272 Fedaykinx
Fedaykinx's picture

we'll never hit peak bullshit, that's for sure.

Thu, 03/15/2012 - 09:10 | 2257283 AnAnonymous
AnAnonymous's picture

US citizenism does well actually in that domain.

What is the idea of going for depletion of resources?

What is the purpose? The goal? Very hard to understand what US citizens look for by achieving that.

Thu, 03/15/2012 - 10:10 | 2257574 MachoMan
MachoMan's picture

It's just to make you keep guessing...  we're weird like that.

Thu, 03/15/2012 - 15:10 | 2258912 AnAnonymous
AnAnonymous's picture

It's just to make you keep guessing... we're weird like that.

Do US citizens even know? The situation looks more as if they have lost control over the systemics imposed by 'Americanism' and have no other solution than keeping up the trend, pushing as much as possible other people under the train. Better them than me. US citizen motto.

Trouble, situation is simple: when you promote your own solution by destroying alternative solutions, when you are successful, you are left with your own solutions and all the solutions you failed to eliminate.

Reads as it is what is happening to US citizens.

Thu, 03/15/2012 - 15:22 | 2258937 akak
akak's picture

Go back to writing cryptic and incomprehensible chinese-made product manuals, you vile and ignorant troll.

Thu, 03/15/2012 - 15:23 | 2258973 AnAnonymous
AnAnonymous's picture


Most obvious facts. Denial seems to lead to consider that raw reality is cryptic.

Thu, 03/15/2012 - 11:54 | 2258040 trav7777
trav7777's picture

so Rome was full of US Citizens too eh?  I guess Britain and Spain too...

Thu, 03/15/2012 - 12:13 | 2258182 Errol
Errol's picture

Homo sapiens evolved a "consume it now, store the surplus as body fat" instinct a very long time ago.  This is the hard-wired present mindset of most current humans.  The only exceptions are some peoples who moved into areas with cold winters; they were selected to defer gratification and store food and firewood (the ones who didn't got selected out).l

Thu, 03/15/2012 - 12:41 | 2258346 trav7777
trav7777's picture

Deer on islands must also be US Citizens

Thu, 03/15/2012 - 14:08 | 2258692 akak
akak's picture


But in the warped and bigoted mind of our dear chinese citizenism diswasher friend Anymouse, you are undoubtedly correct.  ALL the faults of the world apparently can be laid at the feet of his mythical and nonsensical "US citizenims".  Make me laugh!

Thu, 03/15/2012 - 15:14 | 2258936 AnAnonymous
AnAnonymous's picture

ALL the faults of the world apparently can be laid at the feet of his mythical and nonsensical "US citizenims".


'Americanism' is mythical? Once again this crap. US citizens did not develop a system of their own?

Denial, more denial, again denial, even more denial.

US citizens are the ones building fantasy as soon as they are asked about their miraculous system of theirs, 'Americanism'

Turning table has its limits.

All the faults of the world? Nice defense line. Do US citizens accept it? I dunno...

US citizens are responsible for the current state of the world.

US citizens have nothing to do with the great fire in London, death of William The Conqueror etc...

They are responsible for their actions and their actions only.

But hey, the main defense line by US citizens is strawsman, building fantasy, unable to speak of US citizenism for what it is.

Thu, 03/15/2012 - 15:16 | 2258945 akak
akak's picture

I can smell a pre-programmed, automatic phrase-generating trollbot a mile away, and THIS one stinks to high heaven!

Thu, 03/15/2012 - 15:33 | 2259020 AnAnonymous
AnAnonymous's picture

People do not smell their own odor.

Well, that could explain that US citizens can not smell the smells of US citizenism.

Thu, 03/15/2012 - 15:50 | 2259079 akak
akak's picture

Perhaps my sense of smell was overwhelmed by all the chinese urban smog, or the stench of all those thousands of vast chinese mountains of steaming and toxic garbage, and all those millions of piles of festering turds deposited by roadside-shitting chinese citizens.

Thu, 03/15/2012 - 14:57 | 2258863 AnAnonymous
AnAnonymous's picture

Homo sapiens evolved a "consume it now, store the surplus as body fat" instinct a very long time ago. This is the hard-wired present mindset of most current humans. The only exceptions are some peoples who moved into areas with cold winters; they were selected to defer gratification and store food and firewood (the ones who didn't got selected out).l

You got your biology right, US citizens way.

Hot desert people are indeed fat, fat and fat.

I suggest you meet a few Icelanders and learn how to fish fishes when they are in the sea.

Thu, 03/15/2012 - 14:53 | 2258852 AnAnonymous
AnAnonymous's picture

Rome hit resource depletion?

First news.

Ah, I get it, that is to fit the story that US citizens will do perfectly well without resources.

That is the kind of obvious stuff one is forced to deny, you know, if indeed, Rome had been voracious as US citizens have been, that would be felt nowadays.

Reality, they were nothing compared to US citizens.

But hey, US citizens are so used to being pampered by their state they are now at denying the most obvious fact.

Thu, 03/15/2012 - 15:01 | 2258881 akak
akak's picture

I am the Great Stoolman Mousy Tongue, conqueror and enslaver of Tibet and murderer of tens of millions of my own subjects in the "Great Leap Forward into Poverty", and I approve this chinese citizenism message.

Thu, 03/15/2012 - 15:06 | 2258897 AnAnonymous
AnAnonymous's picture

The Great? The Small?

The big guy in the yard is US citizens.

They set the trend and they deplete continents. Continents. And maybe the world.

The obsession with low performers is another US citizen cheap propaganda artefact.

Thu, 03/15/2012 - 15:19 | 2258953 akak
akak's picture

I am the Great Stoolman Mousy Tongue, murderer of tens of millions of my own subjects, running dog imperialist against Tibet and the independent republic of Taiwan, and father of chinese environmental destruction, and I approve this chinese citizenism message.

Thu, 03/15/2012 - 15:35 | 2259027 AnAnonymous
AnAnonymous's picture

Ah, the own people dilution of responsibility.

US citizen: well, my neighbour beat his wife.

So I went in, killed the man, raped the woman, sold the children to pedophiles but at least, I did not do that to my own family!

Thu, 03/15/2012 - 15:51 | 2259099 akak
akak's picture

Chinese citizenism, combined with autism, combined with trolling, is truly a sorry sight.

Thu, 03/15/2012 - 13:24 | 2258536 Bohemian Clubber
Bohemian Clubber's picture

Simple, it's a Ponzi!

Thu, 03/15/2012 - 09:10 | 2257280 Wolferl
Wolferl's picture

No mention that global gold mining production 2011 was at all time high of about 2800 metric tons? Those fucking gold pumpers.

Thu, 03/15/2012 - 09:25 | 2257344 grey7beard
grey7beard's picture

>> No mention that global gold mining production 2011 was at all time high of about 2800 metric tons?

Where do you get that figure from?  I'm showing gold production peaked in 2001 at just over 2,500 mt.

Thu, 03/15/2012 - 10:55 | 2257749 grey7beard
grey7beard's picture

>> Read page 67.

Interesting, that report shows SA's gold production increasing.  The numbers don't match up with what a quick google search revealed.  Who knows where the truth lies. 

Thu, 03/15/2012 - 11:55 | 2258048 trav7777
trav7777's picture

yeah  Not saying they are totally full of shit and everything, but they have THROUGHLY OBLITERATED the truth when it comes to oil reserves and oil production projections.

Thu, 03/15/2012 - 12:58 | 2258429 Wolferl
Wolferl's picture

Haha, yeah, was waiting for that kind of comment. The government is always lying, of course, and a company selling gold for a huge profits is always telling the truth, of course.


There are other sources that say world gold mining production was well over 2800 tons in 2011 and will exceed 3000 tons in 2012, Because so much new gold mining project are going in production now. A classic "pork belly circle", if you ask me.

Thu, 03/15/2012 - 09:11 | 2257285 Bartanist
Bartanist's picture

Supposedly there is a massive amount of gold and other minerals near the surface in the DRC. 50 million Congoese depend on artisan mining for their livilihood. However, bank funded US NGOs have had laws passed labeling minerals from the DRC as "conflict minerals".

This is after the IMF gave money to rebels to buy guns.

Odd, no? Lots of gold and other minerals and they are preventing it from getting to the "western" markets. It first has to be laundered through China. Reminds me of that fake "blood diamond" scam that prevented the residents of Sierra Leone from scooping up diamonds in the mud, where they are plentiful.

Thu, 03/15/2012 - 09:39 | 2257420 FranSix
FranSix's picture

I would not venture to say that Congolese resources are easy pickings and that its just a matter of exploiting the resources and merely brusing aside anxiety-ridden NGO concerns or apprehending sino-fraud.  The Congo is one of the absolute worst places to mine because of years of mind-boggling, murderous civil strife.

Not only that, but recent moves by the Congolese government to appropriate valuable copper mining prospects from the hands of developers with agreements that had already been negotiated are perhaps the nail in the coffin to developing mines in that country.

But mines are being developed, and projects advanced just the same:

The big development focus is, of course, not the minerals, but the hydro-electric potential of the un-tapped Congo river:

South Africans have a vested interest in infrastructure developments on the African continent, especially if they can ensure a power supply.

Thu, 03/15/2012 - 11:56 | 2258058 trav7777
trav7777's picture

well, there were very bloody, savage wars all over the region over these diamonds.  Wars that don't seem to break out in other places diamonds are found.  Australia is a massive diamond producer and I'm yet to hear about their civil war.

Thu, 03/15/2012 - 09:15 | 2257302 Flakmeister
Flakmeister's picture

Just think of the fun when the gold production plot shown for SA is for oil from the other SA....

Part of the decline is from lack of power from the grid....

Thu, 03/15/2012 - 09:24 | 2257333 toadold
toadold's picture

Interesting, you can't trust financial stats out of China and you can't trust financial stats out of the US BLS any more. Is there some kind of correlation?   /Snark/off. 

Question: Is the price of silver to gold historically 16 to 1 or 17 to 1?

I love the prospectus for the IAU gold ETF. It is brutally honest. Paraphrasing just a bit:  "We don't do chemical checks for the purity of the gold, we just look at the stamps and paper work. If it's phony, too bad.  We charge our 0.25 % regardless by selling the gold to cover, if it gets too low to cover we'll close down and you are SOL.  You aren't buying on the comodity market therefore you have none of the protections of that market, if things go tits up, too bad, you have little to no recourse. We try to duplicate what buying physical gold is only we get the first cut. "

Thu, 03/15/2012 - 09:39 | 2257417 gaoptimize
gaoptimize's picture

Gold is deposited in igneous rock.  I can think of no reasons why near-surface deposits (easilly mined) would be more common or rich than deep deposits.  What we have here is a lack of deep exploration and prices too low to make recovery economically viable.  I suspect there will not be peak gold at twice the price.  Paper price suppression of physical has consequences.  At the right price many things become viable.  Robotics will play a role.  Environmental issues will be rebalanced and better mitigated. At the right price, asteroids become attractive.  And  "common heritage of mankind" my ass.

Thu, 03/15/2012 - 09:53 | 2257487 FranSix
FranSix's picture

The gold deposited in South Africa is in sedimentary layers, not in 'igneous' rock.  

Otherwise, you would say that the gold found in certain types of granite such as feldspar or andesites via fluids coming to the surface and forming quartz veins are intrusions.

Gold enrichment at or near surface is called supergene enrichment.  Otherwise known as a "pay streak."  In mining, you start at the outcrop, then dig deeper.  Normally deposits are consistent in grade and disposition, so if you find a deposit, you can mine to depth as long as price remain above costs and the deposit is large enough to support a mining operation.

You can't start at depth for obvious reasons, simply that there's millions of tons of rock in the way.

See how it works now?

Thu, 03/15/2012 - 09:54 | 2257491 HurricaneSeason
HurricaneSeason's picture

There is an asteroid coming near the earth in February. If they can get a cable around it and winch it to the space station, there are probably hundreds of tons of gold. They can then transport it to the new military base on the moon and chip away at it in a low gravity situation that would be cheaper. Newt in 2012!

Thu, 03/15/2012 - 10:59 | 2257761 Henry Chinaski
Henry Chinaski's picture

You lost me at asteroids, but the geology discussion reminds me of a wise line from my 17yr old son's poetry: 

"In real life, paper never beats rock."

Thu, 03/15/2012 - 11:41 | 2257916 DosZap
DosZap's picture

What we have here is a lack of deep exploration and prices too low to make recovery economically viable. 

How deep do you want to go?

Most SA mines(established long termers) are at neat 7 miles deep now.

Thu, 03/15/2012 - 12:25 | 2258255 gaoptimize
gaoptimize's picture

Should I believe this: or you?

Thu, 03/15/2012 - 09:50 | 2257469 Bastiat009
Bastiat009's picture

Production down, price down ... demand must be zero.

Thu, 03/15/2012 - 09:55 | 2257496 digalert
digalert's picture

Meanwhile globalists release the latest propaganda "Kony 2012". A movie about some bad guy nobody's seen in five years.This will launch AFRICOM to a new level of continental control. Nothing to do with western anglo banksters desire to keep the pesky chinese from establishing any foothold in Africa. plunder

Thu, 03/15/2012 - 09:57 | 2257500 Monedas
Monedas's picture

Wait 'til the Zimbabwe Zombie Negroes take over.....SA will be a net importer of Gold and Ivory and Rhinoceros horns !  Their AIDS exports will still thrive !  Monedas  2012  Calling a spade a spade !

Thu, 03/15/2012 - 11:15 | 2257799 Disenchanted
Disenchanted's picture


I would be asking myself who actually controls these mines, their output, and thus the price of worldwide gold/silver.


With silver bullion controlled by an international and conspiratorial minded group, as indeed it is obvious it must have been, considering the main sources of silver supply as being far away from those centres of civilization whose money depended on it and yet with people coming to equate money, in actuality the law of the ruler, with value according to the law created in the exchanges by the custom of the use of that same privately controlled commodity, then it becomes quite clear that scarcity or plenty in money, whatever way it was evinced in the circulation, depended on the manipulations internationally of that group controlling the distribution of precious metal bullion, and the plenty or scarcity they created, as was convenient to them.

If there was no silver, why then ! there was no money, and prices fell. Substitute gold for silver, and history seeming to fast repeat itself, we have the condition of the European world of the last 2000 years. If there was no gold, Why then again ! There was no money!


Hence was able to develop that conspiracy against mankind most exemplified by a continuous propaganda of hate against all authority: in pre-antiquity and antiquity against the many city gods, and in relatively modern times against the kings that rose out of the ruins of that which had been Rome.


As those controlling totally the economic life of a state through monetary creation and emission, must have felt that kings and gods were more of a nuisance than anything else, the instigators of this conspiracy in whatever place and era, obviously were those who first did the business of bankers; the controllers of values, and consequently the economic life of the states wherever the precious metal standard was used.


from page 11 of this .pdf file:


Here is a review of The Babylonian Woe with many more excerpts from the book:



The Babylonian Woe

‘A conspiracy against life’


one of those excerpts:

“Hence the people never questioned the existence of the temple but as the place where the will of the god was exercised through his servants... That it had come to function more as instrument in the capacity of sanctifying front for an international power concerned largely with money creation and the control of the slave trade, itself mainly of criminal antecedents, was something they never came to fully understand; nor that this whole thing of prayer, worship, and devotion was dangerously near to becoming a cruel hoax manipulated by a handful of aliens, who looked at them and their fervour and belief with dead eyes...”


Although plague and disastrous political decisions brought about the destruction of ancient Greece, Astle convincingly describes the process by which the international bankers captured every Greek citystate except Sparta by introducing silver coins (banks controlled the silver mines) and credit ledger entry banking, which allowed them to create money out of nothing, a thoroughly destructive practice which has led to our present financial impasse, the way the big bankers always shake us down, generation after generation.

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