For decades we’ve been made to be convinced that Economics is a “science” that always be handled by along with intellectuals. After all, we shouldn’t worry about the data! We should leave those in the hands of those that have the ability to research and make judgements. All too often I hear about the idea that man-made economics is far better than the free market economics. It’s been now more than 60 years which our economy had used the Keynesian man-made approach but may really work? I’m wondering if man – as smart while he is – recognizes that sometimes the universe is bigger and others powerful than she is.
Inelastic supply, 70% among the world’s silver comes as being a byproduct of other metal production. As the result, silver production simply can’t be increased without much disruption to the other mining activities. Which isn’t overproduction of copper, lead, and zinc. It is a regular occurance that silver supply from MINING is especially inelastic, can be insensitive to cost changes.
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The Bible contains a detailed and lengthy description with the role that gold in the various forms played during King Solomon’s reign (1 Kings Ch. 10). To grasp an item made of gold to be able to possess effortless has provided security and value for hundreds of years.
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