Setting The Record Straight On The Massive Gold Supply Conspiracy

As market turmoil continues to push gold and silver prices higher, precious metal investors need to understand the fundamentals more than ever.  Unfortunately, there continues to be a lot of misinformation reported by sources in the precious metal community.  This is harmful as it confuses would be precious metal investors.

I decided to write this article due to a recent email question from one of my readers.   This individual wanted to know what I thought of the notion that the world held nearly two million tons of gold instead of the official 170,000 metric ton (mt) figure.  Let me start off by saying, I have answered this question dozens of times.  So, I thought it would be best to write an article to SET THE RECORD STRAIGHT.

To be honest, I can’t stand wasting time on this silly subject, but I am beginning to realize false propaganda continues to mislead a lot of people.  I first discussed this in a prior article, THE COMING GOLD RUSH: There’s A Lot Less Gold In The World.  However, I will go into more detail and finally lay this matter to rest.

Bix Weir & Karen Hudes Promote The 2 Million Ton Gold Supply Conspiracy

The two individuals who continue to promote the notion of a massive two million ton hidden gold hoard are Bix Weir and Karen Hudes.  I would imagine many of the readers are familiar with their claims.  Let’s start with what Bix says about Golden Secrets via his website:

Yes, the stories of hidden stockpiles of gold are 100% true and it will all come out during the crash of the Global Monetary System so there will be a BREAK between gold and silver prices that will shock the world. Don’t think that there was only 180,000 TONS of gold ever mined in history. Total BS. It was a lie formed by Harry Oppenheimer in the 1960’s and then promoted by Goldman Sachs and Jeffrey Christian…THINK ABOUT 2 MILLION TONS OF GOLD MINED AND EVEN MORE STILL IN THE GROUND HIDDEN BY THE US GOVERNMENT TO BE USED AFTER THE WORLD REJECTS THE US DOLLAR!

Bix states that there are more like 2 million tons of gold rather than the 170,000 mt stated by official sources such as GFMS.  He says this 170,000 mt figure originated from Harry Oppenheimer (Gold & Diamond Magnate) in the 1960’s.  I will respond to his claim, but let me now show what Karen Hudes published on her Facebook page:

The POINT is that ultimately , a complete accounting should show where ALL of the original 720, 000 tons WENT- not to mention estimated 1.2 MILLION tons of Yamashita treasure ( combined German and Japanese plunder) identified above ( that is very nearly TWO MILLION TONS OF GOLD worth more than $38 TRILLION at todays price 2006).

You can check out the link to Karen’s Facebook page and read all the details.  However, it would be a waste of time when we consider the facts below.

Scientific Data On Total World Gold Production

Bix claims that Harry Oppenheimer supposedly started the false claim of cumulative world gold production in the 1960’s and GFMS, Jeffrey Christian and Goldman Sachs continue to promulgate this falsehood.  Unfortunately, Bix is guilty of not using simple deductive reasoning and 3rd grade math to corroborate his theory.

There were two studies done on estimated world gold production… much earlier than what Bix stated via Harry Oppenheimer in the 1960’s.  The first report was called “The World’s Production Of Gold & Silver From 1493 to 1905 published by the Journal of Political Economy in 1910:

Journal-of-Political-Economy-1910

Here is a gold and silver production table from the report:

Journal-of-Political-Economy-Gold-Summary

According to the estimates in this report, total world gold production from 1493 to 1905 was 565.9 million oz (Moz).  This represents approximately 17,600 metric tons (mt).

A second report produced by the U.S. Bureau of Mines in 1929 was titled, Summarized Data For Gold Production:

Summarized-Data-of-Gold-Production

This report done by the U.S. Bureau of Mines staff, provided the following table:

World-Gold-Production-Summary-1493-1927

According to the U.S. Bureau of Mines, the world produced one billion oz of gold from 1493-1927 (highlighted in yellow).  The figures in this report were built upon the data from the Journal Of Political Economy published in 1910.

Again, we have two detailed publications estimating gold production in 1910 and in 1929… decades before Harry Oppenheimer supposedly made his claim of world cumulative gold production by Bix Weir.

Now, I took the recent data from the USGS – United States Geological Survey and GFMS and made the chart below showing the current cumulative global gold production:

World Gold Production 1493-2014 #2

My chart shows cumulative world gold production of 166,640 mt from 1493 to 2014.  Thomson Reuters GFMS states there has been about 170,000 mt of gold.  However, that is an older figure comprised several years ago.

If we add up all the gold mined from 1493 to 1900 on my chart, it equals 15,158 mt.  If we go to the gold mine supply table right above it and look at the highlighted area showing 487,269,833 oz (1493-1900), it equals 15,156 mt.  The important thing to understand in the chart above is the massive amount of gold mined from 1901-2014.

Of the 166,640 mt of gold mined since 1493, 91% of this figure (151,842 mt) was produced after 1900.  If we use some basic math and logic, there is no way in hell that the world could have produced 2 million metric tons of gold.  If we look at some data from the ancient Roman Empire, we can see that overall gold production wasn’t that much compared to modern times.

Estimated Ancient Roman Gold Production

According to information from the ancient book, Naturalis Historia by Pliny the Elder who died in 79 AD, annual gold production in the Roman Empire was estimated to be 9 metric tons per year (Production in Asturia, Callaecia, and Lusitania (all Iberian Peninsula) alone – Wikipedia)

That 9 metric ton figure is not for the entire Empire, so lets attribute 15 mt per year.  If we assume the Ancient Romans produced 15 mt of gold for 500 years, that would equal 7,500 mt.  I doubt they produced that much, but if they did.. it still won’t change the total 170,000 mt figure all that much.

Regardless, most of the ancient gold produced may be lost forever.  Which is why GFMS states that 170,000 mt is a good ball park figure.  Now, could they have missed some… sure.  So, let’s add another 30,000 mt to get a total of 200,000 mt.  That is still ten times less than the 2 million ton figure that Bix Weir and Karen Hudes claim.

More Logical Data Proving The Official 170,000 mt Figure

The reason gold production went exponential since 1900 was due to the advent of oil as a leading energy source.  The next chart shows how human population and oil production go hand in hand:

World-oil-population-growth

As global oil production increased in an exponential trend, so did world population.  If I were to add metals production to this chart, they would move in the same fashion.  Not only did 91% of all gold mined since 1493 take place after 1900, 81% of cumulative silver production did as well.  Of the 46.7 billion oz of silver produced from 1493 to 2014, 37.7 billion oz were extracted after 1900.

Furthermore, the ratio of cumulative gold and silver production has averaged about 9 to 1:

1493-2014 Gold Production = 166,640 mt

1493-2014 Silver Production = 1,452,560 mt

Basically, the world has produced about nine times more silver than gold since 1493.  So, if Bix Weir and Karen Hudes theory that the world has closer to 2 million tons of gold just lying around, then the world would have also produced nine times more silver.  This would be a stunning 420 billion oz of silver instead of 46.7 billion oz. 

Doesn’t make any sense does it??

There is no way the world has produced any more than 200,000 mt because simple math and logic proves it’s impossible.  Moreover, there have only been so many true GOLD RUSHES in the world.  One took place in California from 1848-1888:

California_Gold_Production

Gold production in California started in 1848 and peaked just four years later at 3.9 million ounces (Moz). Production continued to decline, even when high-tech techniques of hydraulic mining using massive amounts of water to wash away mountain sides to get the gold.

The California Gold Rush from 1848 to 1888 yielded approximately 57 Moz of gold. How much is this in metric tons? It turns out to be 1,773 mt. This was one of the biggest gold discoveries in the world at the time, but it only accounted for 15% of the total 11,614 mt of gold mined in the world in the 1800-1900 time period.

Again, more proof that mining gold even during ‘Gold Rush” periods doesn’t amount to a whole hell of a lot.

Destroying The 2 Million Ton Gold Supply Conspiracy Once & For All

As I stated in the beginning of this article, I decided to write this report to provide readers (new & old) more detailed information why the world could not have produced anywhere near 2 million tons of gold.  I am quite surprised that Bix Weir and Karen Hudes continue to promote this delusion.

First, the notion the world had 2 million tons of gold just makes no logical sense whatsoever.  The only way we may have that much hidden gold is if aliens came down here and mined it for us.  I would imagine those who continue to believe this 2 million ton conspiracy, will likely swallow an alien mining gold conspiracy as well.

Second, for individuals to continue to put out this sort of false information, it misleads precious metal investors as to the real problems or concerns.  And why would it be more beneficial for the world to have ten times the amount of gold than official estimates.  Wouldn’t that dilute the price when gold revalues??  I never understood the logical reason to promote this fantasy.

Third, Bix Weir and Karen Hudes do not understand the ramifications of peak oil and the Falling EROI.  These two factors will destroy our modern way of life.  Bix continues to write articles stating there is all this untapped gold and oil in the United States.. and when the time is right, we will start to extract it.

His theory is that the U.S. is using up the rest of the world’s oil and that we will then start to produce all this untapped gold and oil making the United States great once again.  This is a very lousy theory and will be quite harmful for those believe it.

Why?  Because the opposite is the case and if individuals don’t prepare correctly for the upcoming collapse, they will be caught like a deer in the headlights.

Lastly, I have nothing against Bix Weir or Karen Hudes.  Actually, I am glad they promote owning physical gold and silver.  However, I hope some readers forward this article to them in the chance that they may be open enough to logic and reason on this subject matter.

I am tired of receiving emails from readers asking me the same question about this 2 million ton gold hoard.  If we as a community want to be taken seriously, then we should make sure the information we share is accurate or credible.

The world is about to get PRECIOUS METAL RELIGION.  It’s time we focus on the true fundamentals and not lousy conspiracy theories.  While some real conspiracies have and continue to take place, the notion of 2 million tons of gold isn’t one of them.

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95 Comments on "Setting The Record Straight On The Massive Gold Supply Conspiracy"

  1. This was an excell explanation and one that takes the hyperbole out of many people that have anterior motives and d
    Not report truthful readings.
    Thank you again for the clarity with which you wrote.

  2. PAY BACK.

    LONDON:
    News this morning that 6 of the world’s largest miners (including Rio Tinto) have resigned en masse, their memberships in the LBMA.

    This may be the backlash from the LBMA “fixing” the silver price 6% lower than the paper price last week. The world’s largest silver producer (KGHM) loudly protested this criminal action to the LBMA at the time, without avail.

    Now 5 days later, 6 of the largest miners in the world resign from the LBMA.
    This could be the beginning of the end for the LBMA and their criminal “price fixing” proceedings. As the other smaller miners will surly follow suit and resign their memberships, along with their investors.

  3. The space mining source is true (but not alien) since the large deposits of the platinum metals are from asteroid strikes including gold and silver. Already near earth asteroids are being explored for mining.
    http://mashable.com/2012/04/26/planetary-resources-asteroid-mining-trillions/
    Exploration is already begun … mining estimated in 4 years… But without robotics and artificial intelligence it would be impossible.
    With that in mind guess who the companies are that are spearheading the asteroid mining….

  4. ” EVEN MORE STILL IN THE GROUND HIDDEN BY THE US GOVERNMENT TO BE USED AFTER THE WORLD REJECTS THE US DOLLAR!”

    Alex Jones & many others have told us of the under ground tunnels & bases all over the country. They have a NEW drilling technology and supposedly these tunnels are for fast moving subway….. Seems to me finding NEW gold deposits would be easily accomplished.

    I am hoping Steve that the Govt is replaced with a govt “For the People”

    The Money is not sound! JFK Tried to fix it!

    The Healthcare is not sound! Cannibas Oil Kills cancer, but because it’s a plant and Pharma can’t PATENT a plant No money in it, so instead they feed use their TOXIC chemicals.

    The rest of the world does NOT want GMO foods, yet here in our country it’s promoted.
    They don’t care about us & it’s time to establish a replacement government for “The People”

    • a guy from Ukraine | February 10, 2016 at 1:48 am | Reply

      “it’s time to establish a replacement government for “The People””
      the all-wealthy and powerful banking cabal that have all western minds zombified via thier puppet media and makes this world go around thinks otherewise… How can “We, the people” counter that? We are just a few enlightened individuals trying to squeal out of our holes with NO real power to change ANYTHING.
      The thing you are talking about is a matter of THE NATION, not that of individuals. There is a reason why Russia is being demonized by western presstitute media with increasing ferocity. It’s because Russia stands increasingly opposed to this satanic New World Order imposed by the banking cabal, standing in the way of destroying one country after another. The world would have been as good as doomed (China alone wouldn’t be able to change anything on her own) if it weren’t for the last impregnable fortress the cabal has been trying to conquer all through the 20th century with varying success. Russia is the last hope of the world for a new more fair world.

  5. Well Shi*, I feel super enlightened…..Now I know where and who is hoarding the Gold when the world fiat currencies disintegrate….So we go back to Gold and Silver coin…AAAAWWWW shucks I knew it all the time…Guess I may get a return on all that physical Silver…..Just trade up to Gold coin when it hits $100.00 an OZ for silver…..Oh happy day….Hurry up and wait and see….

  6. don’t care how much gold and silver it is not near as much as the paper that they claim is money

  7. Great article. In this day & age, people can make numbers lie with just a keyboard. When it comes down to tallying the numbers old school way, the numbers don’t lie.

  8. I’ve heard Bix say that the Chocolate mountains has a lot of gold and is protected by Marines on guard.
    I’ve also read AGXIIK on silverdoctors.com say much the same thing recently, so I was scratching my head.

  9. People who have no science, engineering, mathematics, or analytical background often make fools of themselves when they try to communicate with authority on quantifying anything…or trying to come off as scientific.

  10. Steve,
    Your work is so great. Your investigation is more that enough to shut their mouth. I don’t know how much tons of untapped gold United States have. Can they answer the few quesions . 1) Why USA close the gold window in 1971. 2) Why don’t USA give black German their gold. 3) Where go the gold in Ukraine, Lybia, Iraq? If there are so many gold. The price of gold cannot break $500/oz in 2006. Silver should below $8/oz. Too many BS.

  11. Yo!

    Bix here. If you are going to Debunk the Gold Conspiracy why didn’t you say anything ABOUT the conspiracy?? Not a word!!

    All you are doing is trying to support your argument instead of debunking mine!

    You than do better than this.

    Tell us why you don’t count ANY of the following gold sources:

    Yamashita’s Gold (300k tons +)
    Nazi Gold (50k tons+)
    Dragon Family Gold (1.2M tons+)
    Gold in Chocolate Mountain (100k tons+)
    Gold in the Grand Canyon (1M tons+)

    Those are the secret gold stashes that this article should be “exposing” as a fraud.

    So get to it 🙂

    Love ya – Bix

    • Great reply Bix. Only problem is that my 15 year old could have come up with a better response. Your weak response based on zero evidence doesn’t deserve a response from Steve. Recommend a more rational detailed response.

      So get to it 🙂

    • Um, but if the Gold was never mined, where did it come from? Any Gold hordes must have derived from accumulation of earlier production/mining? Unless alchemy really has worked somewhere? As for Gold still in the ground, it’s, well, still in the ground. Until its mined, it isn’t counted as prduction, which is what Steve is trying to reconcile to account for the above ground stock ofphysical Gold.

    • We have gold too, lots of it, a fabulously rich gold deposit, here in Australia. There is only one problem, we have yet to find it !!!!! Lol … https://en.wikipedia.org/wiki/Lasseter%27s_Reef

      Lasseter’s Reef refers to the purported discovery, announced by Harold Bell Lasseter in 1929 and 1930, of a fabulously rich gold deposit in a remote and desolate corner of central Australia. Lasseter’s accounts of the find are conflicting and its precise location remains a mystery—if it exists.

      For the time being I will stick with Steve’s assessment.

    • Bix,
      Love your work but you are asking Steve to debunk something that has not been proven. Where is the proof that 2M plus tons of gold exist?

    • @AK,

      first i think bix should try to prove something infinitesimally smaller compared to the 2m tons… the 8k tons allegedly in fort knox.

      germany had a hard time even getting a small part of their gold back. oops. there has been no audit for over 50 years. oops. the irregular and contradictory statements from various people about the fort know gold. oops. not much positive proof around is there?

      you’d think if there was so much gold around they could send the US military to invade somewhere and steal the 8k tons, or borrow such a tiny amount for a couple months for an audit. no, but these mystical reserves really do exist!

      as for gold in the ground… grab a shovel and start digging. when it’s out, please add it to the total.

      • A good place to start would for anybody, (please anybody!) to read “Gold Warriors” as all the proof is documented in hundreds of pages of official testimony, court documents, treaties and Congressional testimony.

        The truth is out there…all you have to do is top believing that academia is coming a place of knowledge and not disinformation.

        Bix

        • I read it a couple of years ago and have to admit it’s a well written and good documented book, although I haven’t seen all the attachments it describes. Yet, you have to be sceptical. The story makes a lot of sense, though it still is a story and might be true or not, regardless of the given proof. I was particularly interested in the history part of it as I grew up in Indonesia and heard a lot of stories on hidden goldstashes. Especially the Japanese occupation of China to me was of great interest. Nanking being the turning point.
          The real strongpoint of the book is the possible – and maybe even likely – scenario it describes on how the financial world developed after WWII under the American military complex, as Eisenhower put it. We are still facing the remnants of it.
          And yes, you are right when you say this book needs more attention.

    • the Dragon family sounds like a very strong hand… so y count it as available ? same for canyon gold… even more so the nazi loot gold is still in the nazi hands, not available to you Bix !
      also, it makes the chinese gold buying a major waste of time… so they dont know what Bix knows ?

      and to the point… so Bix’s good guys r letting the world go bankrupt (people will die en masse) so they can rebuild a new system over the destruction ? you call them good guys ?

      your story (im hearing for years now) just dont add up, we r into ww3 and its about to flare up, and its a lot because of the financial crimes taking place, so WHERE are your good guys ? they r no good guys, they r under takers with an ice cream cone,

      sorry Bix, your road to roota goes to hell first…

      keep stacking aussie silver !

    • ok report states 300,000 tons (3 hundred ton) and you read it ‘american way’ as 3 hundred thousand tons. what an im…cile you are, Wix…

  12. Well Steve, then there’s the obvious question:
    If the central bankers in the world knew that the value of their gold would be devalued by a factor of 10, then why would they hold it?
    Answer: they wouldn’t.

  13. Great article using logic and reason! Bix is a good guy but the logical proof is not all there. We can make any argument with a logical conclusion but if the premise isn’t true (based on physical proof from real world experience ) then the conclusion is false. Where is the proof of the gold from these areas? It is all a guess and logic from mining goes against the guess. It makes a great story but highly unlikely. Precious metals in concentrations are a surface phenomenon only. So mining – or lack of- will ultimately determine the cost and availability.

    • Hi J

      ” Precious metals in concentrations are a surface phenomenon only”

      Your comment here intrigued me to do a little quick research on deep gold mines. In just a few
      minute’s discovered these deep gold mines.

      !. Moponeng South Africa 2.5 mile Hole
      2. Tau Toni South Africa 2.4 miles
      3. Homestead Mine South Dakota 6,800 Feet

      My point was that drilled tunnels & Bunkers under-ground could possibly discover new gold deposits….

      Cheers

  14. To All;
    First, I like and read SRS report, I like Bix Wier and I like Karen Hudes.
    Second, I read a lot and discern the information and/or watch trends in information.
    Regarding this article. I believe that there is more gold than the government report. Less than Bix and Karen think.
    And that America has little to none above ground in any vault.

  15. If these big Gold hoards existed …. the US Govt. thru it’s various proxies/alphabet soup agencies would have hunted down the locations and seized the metal long ago for protect it’s Reserve Currency Franchise ….. look what they did to Saddam & Momar for just threatening the Fed’s Printing Press …… Bix and Karen probably mean well, but in my opinion; both live in fantasy worlds.

  16. Dear Bix & Karen …… your imaginary Gold hoards exist – but what you haven’t figured out yet is; they only exist as paper ounces…… the 500-to-1 leverage on the COMEX is just the tip of a Paper Gold inventory iceberg.

  17. Steve
    That’s a good piece of work that presents the evidence in a comprehensive manner. I have not seen the facts detailed with this level of historical foundation before. It makes sense but what doesn’t is the primary catalyst for KH’s motivation ( I don’t know BW).
    Thanks for taking the time to deal with the issue again.

  18. Thank You Steve. The truth will emerge..the naysayers will cry foul…”BUT”, they bemoan, “The Gold ETF I’ve invested trillions in says their backed with numerous vaulted gold bars”…”There MUST be 2 Million tons of Gold available!!!…they say in their prospectus!!!!, it’s in their vault”……hmmmmm….
    At least they can take the money and hide it in bitcoin, which will give me a double whammy for profits…1 on my physical gold, and the other in my bitcoins!
    “Badges? “We don’t need no stinkin badges”!!!

  19. Steve,

    Great Article, accurate, concise, and definitive but unlikely to close the myth.

    “Wrestle not with bigs for you get dirty and they enjoy it.”

    Buy for cash and stash.

    SteveW

    • Steve,

      I think the amount of available, above ground silver is a far more relevant metric.

      My unexpert, unexperienced calculation is that the ratio of above ground available gold to silver may be as little as 2 ounces of silver for every ounce of gold. So Instead of the traditional 9/1 or 16/1 or the current cost ratio of 77.5/1. Silver may be considerably more scarce than priced by the paper market and our time may be running out.

      Thanks,

      SteveW

      • i wrestled some time ago with various estimates and my number came a little more optimistic as 2,5-3 silver per 1 gold

  20. mount choclate is where the easter bunny hides the gold,
    look for egg shape nuggets,

    eggs dont stack,
    stack silver !

  21. Just a question. Figures show that all central banks together held app. 30.000 tons of gold right after WWII. And at this very moment they still do (+ or – 10% or so), if you believe these figures are right. From that time on according to the USGS app. 120.000 tons are mined. As this figure doesn’t show up in the quantities of the central banks, this must have been all taken in by the market. But where exactly did it go?
    Also various sources say that there should have been app. 10.000 tons above ground gold in 1850. Where do these figures come from? That would imply that gold, which had been sought for at least 3000-5000 years, had been dug up in quantities on average by 2 tons (5000 years) and 3 tons (3000 years) yearly worldwide. And that in times that gold was far more easy to find than nowadays. That strikes me as odd. We always refer to our western world, but how about the rest of the world. Talking about above ground quantities, these are only estimates and some might be spot on. I don’t know. So it could well be that enormous quantities are hidden and stay hidden untill these can be used for whatever reason, whenever needed.
    One thing I am sure of and that is that nobody knows and probably nobody ever will as long as gold is sought after. And also that there is more gold than the said 170-180.000 tons. How much more? I wished I could tell you. It is very difficult to distinguish between myths and facts.
    Remark: as I am Dutch I’m talking about metric tons.

  22. Rumplestiltskin | February 9, 2016 at 5:14 am | Reply

    The basis for your argument does not hold up because, you are using the same type of figures Bix and Karen use, except for one thing. YOU are not accounting for “ALL” the gold in the world. David Wilcock wrote a book on the subject of who has the gold.

    Your argument is based an faulty information and assumptions. No matter how righteous you consider the facts you use to make your argument, it is still based on assumed production methodology of ancient times. Regardless of the math everyone uses, those theories are still just assumptions.

    There is no way in hell you or they can come up with accurate figures, as there is no way to tally where most of the gold is. Do you actually think any country would willingly divulge what they have in their stockpiles.

    You come off as the Pot Calling The Kettle Black. DUH !!!

  23. Hey Bix

    Is Bill Gates, vaccine poisoner still a good guy?

    Is Sarah Palin still going to endorse Ron Paul?

    Bix is FOS

  24. There is probably some truth to your position. If so, you also need to concede that what it comes down to is merely “Opinion” on both sides, without any hard facts to support either arguement.

    However, as a scientist by training, I am of the view that one should always do the best job possible of researching the facts and it seems to me that Steve has done so, whereas on the other side, Bix has merely stated as facts a bunch of numbers with ZERO supporting evidence.

    Under the circumstances, it seems to me that the burden of proof should be with Bix, not with Steve, who has presented a well reasoned and researched case with supporting evidence. Bix has provided nothing other than “Legend”?

  25. So let’s say Bix is right and there are 2 million tons of gold, give or take. That’s 2 million x 2000 to give the world 4 billion pounds or (x16) 64 billion ounces. Given there are about 7 billion people on earth that means that there are about 9.1 ounces of gold for every man, woman and child on earth. Gold is still rare and it’s still money.

  26. I agree Philipat. If in fact there is so much more physical gold throughout the world , why are there desperate grabs for it present day ? Germany and the NY holdings , Cypress , Ukraine and U.S. , Libya , Iraq , and the list goes on. If the “bad/good guys are well hoarded this positioning wouldn’t be necessary . Follow the money.

  27. Who would you rather believe? A well thought out and researched position on gold production, or the screen writers of the new Indiana Jones movie Bix WIer and Karen Hudes. There’s a secret chamber of Japanese Gold hidden in Hawaii and only Bix and Karen can save humanity. Bix has published a cartoon version of the screen play. You can find it next to the earlier ones published by the Fed.

  28. It is easy to reject the ‘2 million tons’ conspiracy. But it is not so easy to reject existence and quantities of the ‘yamashita’ treasure. According to numerous documents, the Yamashita Gold has been traced throughout the after-WW2 history. To me, the origins and existence of the Ymashita Gold are crystal clear. However, the claimed quantities are still questionable. It would be really great if the SRSrocco devote a special report to this particular question.
    thanks

    Arthur

  29. Sorry but Bix is right. Ultimate arrogance would assume we completely see the whole picture regarding the how much gold there is. We have absolutely no idea the total amount and we fear that Bix may be correct!
    Because it is a mystery we have to treat Bix’s hypothesis as a potential truth. If you are not you are fooling yourself.

    What strikes me as odd in this whole conspiracy to hoard the wealth of the world by manipulating the metals markets is – did they know about what we would do. If they are smart enough to calculate and manipulate these markets the way they have are they not able to see us the gold bugs watching the manipulation? There is a huge amount of very savvy investors in the metals world that cumulatively have a lot of money to put into metals. How would I get their money? By not playing fair,by knowing the reactions of my enemies. And of course I would not show my hand by making visible my real cards.

    We have to assume we do not have all the facts here and better proceed with caution. These people and the people that they support have shown themselves to be very cunning adversaries.

    Ultimately Bix is trying to think outside the box and you’d be wise to do the same.

    • lastmanstanding | February 10, 2016 at 7:35 am | Reply

      More like dreaming outside the box.

      Let’s face it folks, man isn’t smart enough to unlock all of the earths secrets. We have used hundreds of years of the earth’s energy in the last 30 years…all in the best interests of humanity. (sarc)

      We have wasted millions, billions, wtfever of human aided by technological invention labor hours on totally irrelevant shit. Some good, most not good.

      Wasting resources + wasted labor + wasted/overproduced products (mainly paper fiat printed out of thin air) to feed, cloth, shelter and keep those who produce less than nothing for others and dump their shit on those producers and the earth itself…soon to end. That includes our “cunning adversaries.”

      “That is how the planet works.” Sooner that one figures that out, the better.

  30. By the way just so we are all on the same page and not eating each other alive about this. A “Theory” is a supposition that that you may know th truth. Your theory gains ground when events seem to fall in line with what you are supposing could be true.

    I believe Bix states very plainly that the road to roota is a “Theory”. He sees that the circumstances around that theory seem to be continually backed up by what he is observing. Bix is not a surface shallow thinker and you should be very glad to have his input with what’s going on.

  31. With all the debt in the world, what is it?
    100 trillion dollars worth?
    even if there are 2 million ounces of gold out there
    What would it be worth?
    But with only 170,000,000 ounces of gold the price should be outta this world
    Should Be

  32. OOOPS
    major goof
    not 170,000,000

    170,000

    My bad

  33. One last thought…

    I am very happy that this discussion is taking place as it is important. I am the first one to admit that NOBODY knows how much gold is above and below ground. I would imagine that the best estimates are in the secret archives of the Federal Reserve but they surely will not tell us.

    If the future holds great things for precious metals, which I believe it does, then we have to get to the bottom of this…the best we can and move forward. That is why I have proposed a solution to the market silver manipulation problem in this article which can also be applied to the gold market…

    http://www.roadtoroota.com/public/1221.cfm

    Note #4

    4) Physical Reconciliation Audit — The purity of physical gold and silver bars are being questioned like never before. There is very little trust that the metal is pure and has not been tainted by tungsten, molybdenum or lead. Unbelievably, large gold and silver bars are rarely drilled and tested for their purity or for tampering. The CFTC should spearhead a global “re-melt” program of the world’s inventories and set up a certification process such that any tampering with the newly minted and certified bars can be effectively tracked back to the perpetrator.

    Anyway, I’m signing off this discussion board as it will take too long to come to any conclusion that we can all agree upon.

    But keep up the great discussion!

    Bix
    http://www.RoadtoRoota.com

    • ” The CFTC should spearhead a global “re-melt” program of the world’s inventories and set up a certification process such that any tampering with the newly minted and certified bars can be effectively tracked back to the perpetrator.”

      Has anyone seen or heard anything about the CFTC from which it could be extrapolated they would be interested in the purity of large bars? Just curious. I guess that’s one reason almost all gold heading towards Asia is assayed re-refined in places like Switzerland. Into kilo and smaller metric weights of course, but the purity is their major concern.

    • Forget the 17 steps …. all you need to do is talk the Mining companies into doing the following 2 steps;

      * Stop shipping any and all Bullion to any company connected to the LBMA/COMEX.

      * Ship Bullion only to the S.G.E. or any other exchange that is a cash & carry.

  34. In regard to this:

    Yamashita’s Gold (300k tons +) ???
    Nazi Gold (50k tons+) ???
    Dragon Family Gold (1.2M tons+) ???
    Gold in Chocolate Mountain (100k tons+)
    Gold in the Grand Canyon (1M tons+)

    I have no idea about this except to what hasn’t been mined yet [wherever it is, in whatever quantities, at a future cost-effective mining cost]. If it isn’t actively being mined there are a lot of unanswered questions that past prospecting can only hint at.

    Let’s get back to what I consider a more relevant discussion on gold.

    https://www.youtube.com/watch?v=NtddnHNYZ6U

  35. Bix is 100% correct and has provided huge amounts of evidence. Most people don’t spend the time looking at al his evidence so they just say there is no evidence.

    • So you think he is 100% correct [a belief], and what Steve communicates in his article is therefore100% incorrect? Wow. Not even any room for the truth being somewhere between?

      As a commenter above noted, and Mike Maloney notes the currency creation out of thin air by central banks will continue, far in excess of whatever quantities of gold and silver manifest from secret stockpiles or conspiracies.

      All this secret stockpile stuff may be interesting to some but it is a distraction from what people need to be doing to prepare for a future very different from today.

  36. I have followed Bix for several years, and am a personal friend of AGXIIK of silverdoctors.com and TND.
    BIX has listed all his “additional sources” with documentation, on his website. GOOD Documentation,

    I’d like you to address some of these additional sources, Steve. You have a good reputation at Silverdoctors…

    One thing about claiming Silver would be much more plentiful as well, that is not exactly true.
    Silver is a shallow crust element, not found as much in the deeper veins like Gold.

    • “One thing about claiming Silver would be much more plentiful as well, that is not exactly true.
      Silver is a shallow crust element, not found as much in the deeper veins like Gold.”

      I have heard this before. You could be correct in this assertion, I don’t know. If so please tell me where this is well documented. It never came up when I got my degree in geology but I wasn’t focused on mining PM’s.

  37. What is the point of claiming and focusing on there being a lot more gold than the majority of PM followers previously thought was “out there”? Is it to claim gold isn’t a good thing to exchange fiat currency for?

  38. The whole lynchpin for manipulation is the paper leverage to physical …. the massive increase in paper Ounces is a de-defacto massive increase in Bullion supply ….. get rid of the Paper Leverage and go to Cash & Carry like the Chinese – then you get real price discovery.

    I don’t think 99.9% of you people understand just how highly leveraged the Bullion markets are to paper ounces ….. when you factor in all the Paper Ounces that trade on a regular basis, you are talking about increasing the Bullion Trading Supply many many hundreds fold.

  39. Well I’ll be dammed …. it looks like the Miners are finally starting to figure this gig out;

    Six London Metal Exchange members resign, including Rio Tinto;
    http://www.gata.org/node/16171

  40. According to some people gold is abiotic, like oil. Just wait and it pops up, right before your eyes. The beauty of it all; there’s enough cheap oil to compensate for the falling ore grades.

    Maybe Karen and Bix can melt all this oversupply of gold into the much desired multi-trillion-coin to back the debt overload.

    Oh, you can forget about silver too, filthy hoarders; JPM has got 500 million tons of phyz, ready to unload into the markets as soon as their fiat game blows up.

    /s

  41. I hate to think it but it would be just like them to dupe us into our purchasing and drop it on us. The eastern powers are already poised to control things with the metals so if you are the western cabal and know you cannot control the East you put the power into bitcoin.

    I don’t like what I see. These guys are so well coordinated they may have had this played out. It’s what they do.

    • Looks like Bix is trying to divert attention away from the real lynchpin of manipulation (massively leveraged Paper Bullion) and have people waste their time chasing kooky conspiracies theory’s down worthless rabbit holes.

    • He is apparently sensitive about critique or criticism.

      In the final analysis whether he is right or wrong, “what difference does it make?”

      Vast sums of alleged gold…100% out of your control even to verify the existence of let alone own any of…does that make any difference to what you are doing or going to do in your personal life concerning PM purchasing or holding?

  42. I used to give Bix some credit but after I read the nonsense about the Chocolate Mountains, the Grand Canyon as massive gold hoards and Gull Island as a source of unlimited oil I had to say bye-bye. Seriously, those stories have been debunked for decades.

    I’m sure Bix is a nice guy. Hudes is just bat ass crazy. Thanks Steve your logic is solid.

  43. I go back to my original point. Over the period studied, Gold always had value and, historically, it was in the best interests of Government to report production as accurately as possible because it would contribute to GDP. There was, until post 1971, no reason to lie about Gold production statistics.

    So, again, where did these alleged private Gold hordes come from?. My contention is that can only have been accumulated (Bought or stollen) from private supplies of physical Gold which were, therefore, ALREADY accounted for in earlier mining/production data. So they are a part of, NOT additional to, the amounts mined.

    And Gold still below the ground doesn’t count in the context of a discussion trying to get to the total stock of physical Gold already mined and above ground.

    The production data may not be 100% accurate but it is the best we have and it is the basis for a fact-based hypothesis. As opposed to legend and innuendo…

  44. I will say this…all of today’s sovereigns obfuscate their gold holdings. How much gold does China have? They play the shell game. How much gold does the U.S. Really have? Once again they play the shell game. My point is that nations have never told the truth about their gold holdings…ever. Steve did a great job analyzing what could be out there. However, some of that mined or hidden gold could have been amassed by an entity during the chaos of WWII or WWI or lost and found again during another conflict from the past. Think Spanish gold from the bottom of the sea, or Incan Gold. How about WWII lost Nazi gold, lost Chinese gold, or even a nation or group that time has forgotten. Nations have risen and fallen on continents rich with wealth such as the Zulus in Africa, or even the Mexican independence from Spain. What happened to their gold? Panama used to be a huge transport hub gold leaving the Americas and much of it never made it to Span. The point is that there are probably unknown caches that may or may not be accounted for in Steve’s analysis.

    • You’re missing the point. It was counted WHEN IT WAS MINED. Where it went after that makes no difference IF we are trying to get a MINING/PRODUCTION data estimate of total above ground Gold stocks, which Steve has, in the most factual way possible, attempted to do.

      There are, of course, other approaches which attempt to estimate total Gold stocks from estimated Global holdings. But for the very reasons you yourself refer to, that is not easy, especially after 1971 when Nixon came of the Gold standard.

      • Your argument is mining records ? Did the Incans, Mayans, ancient Egyptians, Or Aztecs have mining records? Look at today’s unemployment report. Do you believe those records?

  45. Sounds like a lot of CFR sponsored misinformation from Bix and Karen–scare the current gold holders into taking what they can get for their gold now from a head fake so the CFR owned big banks can pick it up for a song and make the big gain when the derivative failure comes and gold has to be reset to cover the defaults….

  46. One last comment–the whole paper gold idea is just fraud. There is an old saying–Dont panic but if you do, panic first–only the first few to demand delivery are going to get any bullion, the rest are screwed….

  47. This analysis is very insightful and complete, however, no one has even mentioned that the crux of the argument relies solely on the accuracy of mining production data from 1490, along with some spotty data from the Roman empire.
    The major point here is that should be discussed is that we cannot possibly really know the total tonnage of available investment grade gold in the entire world unless we gather it all in one place to perform an audit, AND, we know for certain that everyone has participated in delivering their gold to the audit. Therein lies the rub, these conspiracy theories claim that there are vast secret caches which have remained off the books for centuries, possibly since before real record keeping began (pre-WWII, etc).
    The argument against this supposition of course is that based upon the oil-machining processes we have now and the production rate we can attain in today’s times is much higher and after doing the ‘math’ there is no possible way the ancients could have produced as much tonnage as we are producing now, therefore we can get pretty good estimates as to how many tons are in existence above ground. However, this fails to account for one major factor. Like any raw commodity which is not perishable and rather durable (and portable) and was made not by geological processes but by the very creation of the planet (gold being only produced by the sun as a byproduct in a nuclear reaction), it stands to reason that ages ago, there very well could have been much more gold on the surface, ‘easily’ found (at least easier to find and more abundant versus today’s times) and horded by peoples for thousands of years. Over eons, civilizations rose and fell and peoples consolidated the gold supply into large private caches, all the while globally the production mining ramped up, simply because all the ‘low hanging fruit’ (easy surface gold) was already picked dry and the only way to find more was to use up some energy, power and funds to dig deeper into the ground to get at what is left to get at.
    The point to all of this is that while the article makes a very sound argument and relies on very good documentation and data, that data is limited in the context of total potential above ground tonnage, because it projects its total figures by way of production mining alone since decent records have been kept. But back in the stone age and all the thousands of years worth of small discoveries, hording and consolidating by wealthy individuals could, the key word is ‘could’, wind up being whole orders of magnitude greater than anyone could have realized just by studying the last couple hundred years of production mining rates.
    It seems the real problem with accounting for all the actual tonnage above ground and in an available (investment grade) form, with ALL owners of every single ounce of gold participating in the audit, is the very process of getting all the worlds gold in a single physical location to count it all, being certain that there is no wealthy family or secret ‘treasure’ caches being kept hidden in secret. That is the real problem. It is way too simplistic to just throw some historic mining production rates out there and project that based on technological constraints of the past, there must not possibly be over a certain amount of gold, that is an argument, to be certain, however it does not really prove anything other than the fact that future rates of production will be more and more limiting based upon investment constraints and the fact that the rest of the worlds gold is likely forever down too deep to ever get to, (at least profitably).
    We really cannot possibly know the above ground total for certain and we cannot possibly declare as a certainty, based upon spotty historic production mining rates, that it must not be above a certain level.
    Peoples have picked the mantle dry of gold for eons and there is no telling the degree to which private stashes have been consolidated and kept secret for thousands of years.
    This though does not necessarily mean simply declaring that secret stashes to the tune of 2 million tons exist. Of course such claims would have to be proven positively by way of audits of real physical gold. So until real audits happen and any proclaimed secret stashes are exposed and accounted for, there really is no way for anyone to win this argument, either way, unfortunately. It’s all speculation on both sides.

  48. The market for gold is dominated by secrecy. Not every ounce of gold is mined by public mine companies. Even today, it is highly unlikely that every ton of gold mined is publicly accounted for. To think that we can reasonably estimate the gold production of the past is pure wishful thinking.

    Having said that, I would also say that any claim made by Karen Hudes regarding the amount of gold above ground (2 million tons ?) has very little credibility. I remember her claiming that banks in Hawai store many hundred thousands of tons of gold. This is most likely pure nonsense.

    One of the best discussions about the amount of gold above ground is by Philip Barton from the Gold Standard Institute. In the article “How Much Gold Stock is There Really?” (written in 2012), he arrived at the conclusion that the amount of gold hoarded in the world is more than 600,000 tons. Here is the link to this interesting article (scroll down to the bottom): http://www.goldstandardinstitute.net/category/authors/philip-barton/page/2/

    • yes could be 2 times or 3 the official figures but 10 times is very unlikely imo

    • RH

      Personally, I believe there is a total of about 1,250,000 mt of gold (http://www.gold-eagle.com/article/worlds-cumulative-gold-and-silver-production) but I believe his estimate was;

      “Somewhere between 1,200,000 tonnes and 2,500,000 tonnes would seem to be a reasonable and conservative estimate. Obviously it could go way beyond 2,500,000 tonnes. What is beyond doubt is that 170,000 tonnes barely represents the tip of the iceberg of the world’s gold stock. Let us be rid of this figure once and for all. It is a folly to keep repeating an obvious error as though it were fact.”

      SteveW

      • SteveW,

        Shame on you…LOL. You can’t believe that?? Really now?? Don’t you realize the article you quoted stated cumulative silver production at 44.5 billion and gold at 4.2 billion??

        How on fricken earth do you get 1,250,000 metric tons of gold??? Please, you are not this stupid. According to Zurbuchen’s figures, total silver production was 44.5 billion oz or 1,384,000 metric tons.

        Come on now, I respect your comments, but please tell me you had a brain fart on this one.

        ANYONE WHO BELIEVES the world produced more than say 200,000-250,000 tons has no logical idea on this matter. Forget logic, just pick a number out of the blue and say… How about 50,000,000 tons.. LOL.

        Lastly, the world’s oceans hold 20 million tons of gold. All we have to do is totally destroy the world’s oceans to get that 20 million oz.

        Steve

    • Robert,

      Shame on you too. 600,000 tons.. LOL. Gosh, what the hell happened to your logic.

      steve

      • Grades in asia a few centuries and millenium ago could have been much higher than we thought so it would add a couple of 100 000’s additional tons.

        • RD,

          Here we can see you are totally talking out of the wrong end. Sorry to be so blunt. But that is the truth. You have no idea of the gold grades during the ancient times. I have read several older accounts of the large gold mining operations in ancient Rome and I can tell you the grades were not that high.

          Furthermore, I proved that during one of the only two GOLD RUSHES in the United States, total gold production from California from 1848-1888 was only 57 million oz. 1,773 mt. And this was with more modern technology than what the Romans had.

          So, how you think the ancients produced 100,000’s tons of gold makes me really question your analytical and logical abilities.

          Nice try though.

          steve

  49. Yes, I think you’re right. As a beside, nobody talks about illegal mined gold t.i. gold not showing up in minestatistics either. But in 2012 James Turk also published on this matter of how much gold should be above ground. He estimated less than what was commonly thought. Unfortunately the link cannot be copied, but look at Goldmoney.com than Research, Goldmoney Library and look for the article (pdf) from Oct 1st 2012.

  50. Sorry, I was talking silver but writing gold.

    SteveW

  51. The lack of logic in some of these comments is astounding. All Steve has done here is conduct an anlysis of above ground Gold stocks bsed on available Production data going a long way back. This is a valid scientific approach using hard data. Neither Steve nor anyone else is saying that the data upon which the analysis is based is 100% accurate. But it is what it is and there is a valid observation and methodology to establish a hypothesis, aka a scientific approach.

    I think the burden of proof is on anyone who wants to challenge it by presenting an alternative calculation together with the data points upon which it is based. Everything else is based simply on guesswork, legend and/or innuendo so without any substance.

    Expressed simply, “Put up or shut up”.

    • philipat,

      Logic doesn’t play a role in many people’s lives. Lack of logic or the ability to reason isn’t the exclusive realm of one profession, like politicians. It also extends to some writers.

  52. Bix is stating that the gold is there. Steve is pointing out that it cannot have been produced in the latest few thousand years.

    Indirectly then, Bix is implying a belief in the Annunaki, Lemurians, Vimana operators or whatnot who would have come before and lived in an era of staggering wonders.

    A fun trick might be to make a guess on how long that go-round of Earth dwellers lasted (e.g., 10000 years?), net out 2MT-0.17=1.83megatons, and compute how obscene their peak EROI must have been to produce such volumes. Grosso modo, looks like about 500:1.

  53. Good article. Should be / become common knowledge.

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