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<p>[QUOTE=&quot;Juan Blanco, post: 1573042, member: 41665&quot;]Is this a joke post or troll? The effect on &#039;the global economy&#039; would be about nil. There might be discussion of resurrecting Gold coinage, but again: the effect on &#039;the global economy&#039; would be about nil. </p><p><br /></p><p>Admittedly, I cannot prognosticate the hypothetical; I do think it&#039;s more useful to look backwards, into history. Has something similar happened before? Yes. Platinum (Pt) is far, far more useful than Gold (Au) ; there WAS a time in history when &#039;a discovery of 100 times the amount Pt ever mined before&#039; did in fact occur. </p><p><br /></p><p>That&#039;s in 1825, near Perm (Russia). Prior to that date, nearly ALL the platina @ market (1786 - 1825) came from one small, remote, lightly-populated, rain-forest region of Colombia (Choco). That platina ore was exported via Cartagena or Buenaventura. Europe was producing ~60 kgs/ann., including recyled metal, &gt;95% from that Colombian source. </p><p><br /></p><p>Between 1825-1830, Russia produced ~5,429 kgs of Pt, so call that 100x yes? </p><p><br /></p><p>You also might suppose the Pt price totally collapsed by 1830. <i>100x more Pt!</i> Not so.&nbsp; As catalogue price-currents show, the retail price of Platinum in Europe &amp; the USA did not fall because consumer demand for platinum (dental, battery, etc.) increased dramatically. For example, Platinum was ~USD $4.50/oz in 1814, ~$7.15 in 1828 and ~$10. in the 1830s. </p><p><br /></p><p>Is that counterintuitive to what most people would expect? </p><p><br /></p><p>Also note what I consider &#039;mostly coincidence&#039; : </p><p><br /></p><p>1) In 1825, the first recorded PM Bubble occurred.</p><p>2) In 1825, the first global financial crisis of the modern era occurred.</p><p>3) After 1825, deflation of the 1820s and 1830s was both marked and &#039;global&#039; if erratic.[/QUOTE]</p><p><br /></p>

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