Gold that pretty yellow metal we all love so much.
Like most people I enjoy the odd bit of window shopping and seeing the lavish ways that my favorite metal is manipulated into makes me feel fuzzy inside. There are countless shapes and forms all purely for the adornment of some deserving person’s finger and I want them all. The majority of people at one stage or other will have to procure one of these beautiful little bands as a pledge of fidelity to that special someone in their lives. What bother’s me is not the pagan origins of the band or its significance in modern society but the price that we are willing to pay for few grams of this magical element.
Please note however that should you alter this metal in any way you are in deep trouble. The current law forbids anyone from possessing any raw material or altering any gold bearing article as it is a controlled substance. If you bend your ring and being the handy man type you attempt to weld it of rework the metal you are in for a shock should the unholy powers that be find out. The law forbids it and you are in deep doodoo.
Mines produce tons of the stuff each year and though a large part is used up in electronics the remainder is stashed away by banks by hoarders who use it for investment. The little that remains ends up as chains and rings at astronomical prices making it more and more difficult for anyone to afford it these days. The occasional dumping of tons of the metal into the free market results in massive price drops hurting the investors but it doesn’t make it down to the local jewelers whose prices seem to know only one direction. A small band capable of wrapping itself around a finger would contain 4 to 6 grams of the metal but the price not accounting for working of the metal sells at several times its actual value. I left out the artistic value as in resale you pay only for the value of the metal and not its design.
Now my question is if this metal that can be infinitely worked and recycled holds no artistic value once purchased and its resale is nothing more than its metal content then why do we have to pay such obscene prices in the first place.
Secondly if banks no longer use the gold standard to back the currency they hold then surely the output of these mines should far exceed the demand for the metal and its value should fall accordingly and remain there. This would obviously ruin the mining industry coupled with the ever increasing labor cost making all mines future very bad in deed.
My proposal is that the big gold Mongols be stripped of their monopoly and gold should no longer be a controlled substance allowing everyone to buy and sell it at will. This will create a realistic value for the metal and I am sure its value will then be reflected in its price. As for the artistic value this will always remain in the eye of the beholder and should you wish to unload some of your stash then don’t be surprised if you get far less than you paid for it no matter how beautiful it is.
As for the mines it is time that the workers be paid according to what they produce and not what they think they should earn. Yes this is a harsh statement and I can feel the thumbs down already but the truth is if someone spends 8 hours a day drilling holes and the result is a good amount of gold then they should be rewarded accordingly but if that same person spent the day dancing and keep others out of their work then they should get zip. Oh, how rude. How can I be so unjust? Well if I stay away from work my clients do not receive any output from me and I don’t get paid so how are they any different? But now you are really going to hate me. That same person who spent 8 hours drilling for 30 years should be an expert at it by now and his output should have increased accordingly but the truth is that after 30 years at the same job he still takes the same amount of time to do the same amount of work so his output has not improved and therefore his income should only increase relative to the value of the product being produced. The default wage increase is crap and has no place in the real world. If after 30 years you have not been replaced by a younger more efficient person then you should get replaced by a machine capable of doing your job for you at a fraction of the cost of keeping your lazy ass in the money tree. The simple truth is if you want more then you should produce more and if you don’t want to do the same job for 30 years then try a little after hours education and lift yourself up by the bootstraps and become the mining engineer then you can get his pay instead of your current pittance.
Jobs are few and hard to come by these days so instead of this entitlement the employed masses have they should step aside and allow those who wish to work a chance to do so.
The current demand from these people is for R12500.00 as this is what they claim is their living costs but this is total bull. Firstly the miners get accommodation and food as well all the required clothing to do their work. This in any other job would amount to several thousand rand additional each month. The average Jo out there working just as hard takes home R4000.00 to 6000.00 and has to pay for his own transport, food and accommodation If you are unlucky enough to work in the service industry you have to dress up for work in clothing suitable to your status at your own expense.
Should those same workers now do so for their personal gain like in the old Johannesburg days then I think most would starve and some would be rich but one thing is certain and that is the cost of precious gold would be far lower than it is today.
So in short send me your gold I will keep it safe under my mattress.
My…precious…..ooohhh so shiny.
I want that one and that one and oh that one too.
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