Scientists locate the largest gold deposit on the planet

[Michigan Swamp Buck]

Eureka! They found it! The world's biggest of all mother loads! GOLD!

But why is it in China? Why can't that be hereabouts, in my neck of the woods?

Confirmed – Scientists locate the largest gold deposit on the planet and surprise international markets

. . . Chinese geologists have identified roughly 1,000 metric tons of metal locked under Hunan.
That gold deposit translates to about 32 million ounces, a haul worth north of $80 billion at recent prices.
The grade splashed across social feeds —138 grams per ton— is eye‑popping. For comparison, many modern bulk mines make money at 1–4 g/t. But grades that high usually refer to selected veins within a system, not the average ore you can mine economically at scale.

https://eladelantado.com/news/gold-depos...l-markets/

This sure seems like a game changer to me, unless the West can pull some rare earth metals and other PMs out of their asses. Finally time to learn Mandarin and read the Little Red Book so I don't appear retarded to our honorable masters.

[Kenzo1]

Mandarin is my second name   ,  and i allways start my morning by listening this beautiful song  

[Michigan Swamp Buck]

Mandarin is my second name   ,  and i allways start my morning by listening this beautiful song  

Ok, but as far as Mandarin goes, this is what I got. Tell me if you think it will work after they get here.

Ma Po. Kung Pao, wok hakka soy Dim Sum? 
Shitake! Wonton, chow mein!

I over heard that at a Chinese buffet.

[Kenzo1]

Mandarin is my second name   ,  and i allways start my morning by listening this beautiful song  

Ok, but as far as Mandarin goes, this is what I got. Tell me if you think it will work after they get here.

Ma Po. Kung Pao, wok hakka soy Dim Sum? 
Shitake! Wonton, chow mein!

I over heard that at a Chinese buffet.

Kung Pao....is that ancient chinese proverb? 

[Michigan Swamp Buck]

Mandarin is my second name   ,  and i allways start my morning by listening this beautiful song  

Ok, but as far as Mandarin goes, this is what I got. Tell me if you think it will work after they get here.

Ma Po. Kung Pao, wok hakka soy Dim Sum? 
Shitake! Wonton, chow mein!

I over heard that at a Chinese buffet.

Kung Pao....is that ancient chinese proverb? 

I can't be sure, but I do know that Colgon is an ancient Chinese secret.

[FCD]

Ok, but as far as Mandarin goes, this is what I got. Tell me if you think it will work after they get here.

Ma Po. Kung Pao, wok hakka soy Dim Sum? 
Shitake! Wonton, chow mein!

I over heard that at a Chinese buffet.

Yeah, that should work for most stuff.  Might have to throw in a couple Fuk Yoo's and a Blo Mi or two!

[EndtheMadnessNow]

I choose not to believe it. Recall 3-4 years ago China was caught red-handed using fake gold bars for international transactions. So, either their problems are now in the past or just wishful dreams.

And last year a story stating China found the mother lode gold mine worth over $80 billion. Supposedly found using 3D mapping and satellite tech.

There was another story a week ago stating China has discovered its largest uranium deposit in the Tarim Basin, Xinjiang, buried 1,820 meters deep — the deepest industrial uranium find in the world.

[HaarFager]

I over heard that at a Chinese buffet.

I always wanted to learn a phrase or two to use at a Chinese buffet, but not to the workers - only to my dining companion.  They would be:

"I'll bet they think we can't understand Chinese."
Or
"I wonder how they get their cat so tender?"

[FCD]

I over heard that at a Chinese buffet.

I always wanted to learn a phrase or two to use at a Chinese buffet, but not to the workers - only to my dining companion.  They would be:

"I'll bet they think we can't understand Chinese."
Or
"I wonder how they get their cat so tender?"

Here you go...

"Wǒ gǎn dǎdǔ tāmen rènwéi wǒmen tīng bù dǒng zhōngwén."

and...

"Wǒ hěn hàoqí tāmen shì rúhé ràng tāmen de māo biàn dé rúcǐ wēnróu de?"

Translations to simple Chinese.

[Ninurta]

Makes me wonder who they're scamming this time, and why.

Communist nations have traditionally been known for their grandiose superlatives that always turn out to be bullshit - always the "best harvest" or the "happiest people" or the "most productive" etc, and it always, without fail, turns out to be bullshit. Usually they are either scamming their own people (to keep them pacified and less revolution-ey), or their main opponents (to try o make the opposition feel inadequate and demoralize them).

But this scam I can't figure out - why pick such a piddling amount? Modern high-end nations have annual economies measured in trillions of unbacked dollars. This entire lode, if mined to exhaustion, would cover less that 1/10th of ONE trillion - so why bother with it on a national level? It might make one or two guys rich, but not a nation of a billion. It would be just another drop in the bucket to them.

So, it is without a doubt some sort of scam, but what is the scam, who are they scamming, and why?

.Maybe trying to scam some foreign investors to invest in Chinese industry again after the Great Pullout from China?


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[FCD]

Kung Pao....is that ancient chinese proverb? 

Dunno, but I had Kung Pao Beef for dinner last night.  It was great!
Didn't stay at Holiday Inn Express though.


-------------------------------Separate Reply (DANG IT!!)-------------------------------------------------------------

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Ninurta - So a couple things...

1. Propaganda is king in much of Asia.  Even the people know it, but because of convenient culture they can't say anything about it.  That, and everyone does it, from the leaders down to the individual people.  Again, no one says anything about it because the custom of "Saving Face" is a very real thing.  In the western world, 'Saving Face' is more of an abstract term generally referring to a person's ego, but not in Asia.  In Asia it's like something people openly talk about..."Can't say THAT!"  Even though we know it's true...because 'Saving Face'.
First time I was exposed to this in a professional work setting it was really weird.  I didn't think it could possibly be real at first.  But it is very real.  They practice it daily, and people believe it enough to accept it without question. And the people who get the most deference from it are the leaders. In Malaysia (where I was based) if you said something negative about the PM, Sultans or King, you'd get tossed in the hoosegow for a very long time! Weirdly, it was okay to talk smack on the Deputy PM, because the PM himself was usually dissin' on him too! LOL!

2. Regarding the gold in particular - This is just the subject Du jour in the news.  What we don't see is the tens of thousands of other bravado news items just like it which circulate on a day to day basis.  This is just more of the same, no doubt.  As you note, no, it's not a World saving quantity of gold, but this doesn't matter.  To the common man in Asia it is far more money than they can even dream about, but it's not a sum they can't comprehend.  That's the whole idea.  To Asians, it's just enough to be unattainable, but not incomprehensible.  I'll bet if we looked hard enough we'd find that the amount is slightly more than any of the wealthiest Chinese super-tycoons possess.  (Have to impress humble them too, you know!)

Is it a scam?  Dunno.  Seems pretty scammy.  But, there is gold to be had in that part of the world, that much is certain.  Some of the biggest gold and mineral deposits in the world have been located in that region, most of them very real and actively being mined (or mined out).  Whenever people talk about finding gold anymore, it all boils down to how many tons of rock you have to mine for every ounce of gold.  The days of finding veins of gold are long past.  Now it comes down to that rock vs. gold ratio, and the lower the better.  I'm no expert, but do have some colleagues who prospect for gold in their spare time, and they tell me about the realities of the (to them) 'hobby'.  Doesn't really matter if they're panning for it, or dredging for it, or digging for it, the equation is always the same.

[Michigan Swamp Buck]

. . . Whenever people talk about finding gold anymore, it all boils down to how many tons of rock you have to mine for every ounce of gold.  The days of finding veins of gold are long past.  Now it comes down to that rock vs. gold ratio, and the lower the better.  I'm no expert, but do have some colleagues who prospect for gold in their spare time, and they tell me about the realities of the (to them) 'hobby'.  Doesn't really matter if they're panning for it, or dredging for it, or digging for it, the equation is always the same.

I have had that thought from the beginning of my gold prospecting adventure, that the big strikes are all played out, at least in the lower 48 states. I figure the best I can do while hobby-prospecting might be digging around mine tailing piles or in streams where the placer gold can still accumulate near the old mines. I might be able to find a placer deposit that was never played, but I doubt I would ever find the load (or played-out mine) even if I tried.

The results I'm getting now playing around my little creek are around 300-360 tiny flakes per cubic yard of sand at the two-foot level. If the glacial outwash deposited it evenly, going down 150 feet to the bedrock means as many as 18,000 flakes per three-foot by three-foot column, maybe more. If true, I will have walked over the top of one million gold flakes by walking between 56 and 66 paces on my property.

According to one prospecting website, 12,000 fine gold particles weigh 1 troy ounce, so that would make each pace equal to at least one troy once. Worth thinking about now at the current market value of $54,460.00 USD (a ridiculous amount that Bing's AI assistance gave me, let's try $3,339.00 for a troy ounce).

LINK

[FCD]

....

 Worth thinking about now at the current market value of $54,460.00 USD.

That just BLOWS my mind!!
I can't even wrap my head around that number.  I bought my wife a 24 karat bracelet while I was working in Asia for around $800 bucks.  Over there a lot of the people of Indian descent believe in wearing their wealth on their person in the form of jewelry.  So, they sell some serious gold there.  I've never weighed this bracelet but it's a solid sucker,  Probably weighs at least 9 or 10 oz's.  I know it weighs more than 8 oz, but I can't remember exactly what the weight was (which is how they sold stuff, by the ounce).  At $54.5k/oz that bracelet must be worth something like $490,000 dollars, and that just short circuits my brain!!  It's like I can't even believe it, like it's not even real!!!

edit - I just checked and the spot price for gold is only $3,402/oz which makes me feel a little better.  Only worth $30,618, which is a little more believable to me.  I knew it would appreciate, but not THAT much!!  I about jumped outta' my pants when I saw that $54k number!!  I was ready to strap on my body armor and take that thing straight to the bank...like seriously!!!

I mean, don't get me wrong, I'd be tickled shitless over that thing being worth near a half-million bucks, but I was just going through (in my head) all the BS hoops you'd have to jump through to actually sell it for that much!

[Michigan Swamp Buck]

....

 Worth thinking about now at the current market value of $54,460.00 USD.

That just BLOWS my mind!!
I can't even wrap my head around that number.  I bought my wife a 24 karat bracelet while I was working in Asia for around $800 bucks.  Over there a lot of the people of Indian descent believe in wearing their wealth on their person in the form of jewelry.  So, they sell some serious gold there.  I've never weighed this bracelet but it's a solid sucker,  Probably weighs at least 9 or 10 oz's.  I know it weighs more than 8 oz, but I can't remember exactly what the weight was (which is how they sold stuff, by the ounce).  At $54.5k/oz that bracelet must be worth something like $490,000 dollars, and that just short circuits my brain!!  It's like I can't even believe it, like it's not even real!!!

edit - I just checked and the spot price for gold is only $3,402/oz which makes me feel a little better.  Only worth $30,618, which is a little more believable to me.  I knew it would appreciate, but not THAT much!!  I about jumped outta' my pants when I saw that $54k number!!  I was ready to strap on my body armor and take that thing straight to the bank...like seriously!!!

I mean, don't get me wrong, I'd be tickled shitless over that thing being worth near a half-million bucks, but I was just going through (in my head) all the BS hoops you'd have to jump through to actually sell it for that much!

Ah, got that number from Bing's AI assistant, I just now got $3,339 for a troy ounce. Still, a nice sum for a single pace over the countryside.

ETA: Just corrected my last post and made a note of the error. I still wouldn't have been too shocked if true considering how inflated everything is.

[FCD]

MSB - Sorry, didn't mean to rain on your parade here, but when I saw that price I was just in immediate shock.  So, I had to verify the validity of that number.  I check the value of gold periodically, and I don't remember the last time I checked and it was up there, but if it went up that much it would be like several thousand percent since the last time I checked.  Like I said, that per ounce number just sent me into immediate orbit (around the Mars)!

[Michigan Swamp Buck]

MSB - Sorry, didn't mean to rain on your parade here, but when I saw that price I was just in immediate shock.  So, I had to verify the validity of that number.  I check the value of gold periodically, and I don't remember the last time I checked and it was up there, but if it went up that much it would be like several thousand percent since the last time I checked.  Like I said, that per ounce number just sent me into immediate orbit (around the Mars)!

I never even looked at it. AI answered, I copied and pasted. That is the pattern of AI dependence, don't even look at it, just copy and paste, research complete.

[FCD]

Again, just sorry, MSB!

[Michigan Swamp Buck]

Again, just sorry, MSB!

Well, thanks! Actually, I thank you for the correction. To be honest, I have been testing some different stuff, going from sativa to indica and bumping the % a little. I'm thinking I can stay with the current bud of choice for a while.

[Ninurta]

Around 100 to 120 years ago, an Indian family came through the town I grew up in, and camped just outside town for a few days. The old grandfather of the family told some visitors to their camp that if he lived there, he would "shoe his horses with gold, there is so much of it here". It sort of makes sense - we are chock full of minerals. First there was the silver, which the Indians mined. Later there was the lead mines at Fort Chisweill, and still later of course the coal mines.  Iron was bloomed on Copper Ridge where I grew up (there is copper up there, too - hence the name), and down at the Laurel Bloomery. There is iron in the ground here where I live now - water from the wells is rusty "sulfur water", and the creek builds up iron oxides along the creek bank every summer when the rains are light enough not to wash it downstream immediately. There is known to be uranium here in some concentration. So gold would not be that far fetched.

I've found what appears to be gold veins in some quartz rocks, but never bothered to have it assayed. So, for all I know, it was just pyrites. I chucked the quartz rocks with the shiny veins into the Clinch River for amusement. Couldn't think of any other use for them, and I didn't want anyone else to stumble across them and spark some kind of gold rush, which would have disturbed the hell out of my peace... something I don't need, either.

When I got my class ring lo, those many years ago, gold was at, I believe, 80 dollars an ounce. I find it hard to believe that now someone is looney enough to give 3400 dollars for an ounce of yellow metal in this supposedly "rational" day and age. You can get brass for a lot less than that, and it's yellow metal, too, so no difference in my mind from gold. Both yellow metal, just one squeezes wallets harder. I can't imagine why anyone would voluntarily pay that much for it.

They say there is one born every minute.

Silver I can understand - at least it's pretty, and shines like moon beams. But gold? That's just another yellow metal. Why the interest in it? I can't think of anything that would cause me to kill a Chinaman quicker than to have one come poking around looking for gold. I'd give him interest in a mine alright - at least the shaft part of a mine. So it's probably for the best that they're sitting on their own mother lode, and not likely to come poking around here in an effort to mess this tranquil place all up.


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