Ça parle de la dépense annuel par habitant(par rapport a la production) de différents bien de consommations le pêtrole, le cuivre, le blé puis l'or et l'argent. Je vous laisse découvrir quel est le principal poste de dépense.
Citation:
Relative Values,..
Bill,.
I’ve put a little analysis together in relation to annual
production, looking at relative values for the precious metals in comparison to
a few of their tangible peers; Wheat (food), copper (infrastructure/industry)
and oil (energy). The outcome was quite illuminating to say the least!
I have analysed the annual production against price for each commodity, and
broken it down per capita.
I have also assumed a global population of 7 bln people.
Wheat (food):
Global annual production is about 680 million tonnes, which equates to circa
0.097 tonnes per capita,..
Assuming a price of £190/tonne (present UK Feed Wheat price), this equates to
about £19/capita, aka $29/capita,..
Copper (infrastructure/industry):
Global annual production in the region of 15 million tonnes, which equates to
circa 0.0021 tonnes per capita,..
Assuming a present price of $9,000/tonne, this equates to circa
$19/capita,..
Oil (energy):
Global annual production is about 32 bln barrels, which equates to circa 4.5
barrels/capita,..
Assuming a present price of $90/barrel, equates to circa $405/capita!..
Oil: $405/capita
Wheat: $29/capita
Copper: $19/capita
Wow! We can see where your Average Joe’s priorities lie. No wonder no one has
to work in the Middle East!
Now let’s look at gold and silver:
Gold:
Global annual production is roughly 2,400 tonnes - 76,800,000 ounces, which
equates to about 0.011 oz/capita.
Assuming a price of $1,380/oz, equates to circa $15/capita,..
Silver:
Global annual production is about 710 million ounces, which equates to some
0.10 oz/capita.
Assuming a price of $29/oz, equates to circa $3/capita!..
Let’s add the precious metals to the table:
Oil: $405/capita
Wheat: $29/capita
Copper: $19/capita
Gold:
$15/capita
Silver: $3/capita
Of course almost any academic could happily pick massive holes in this simple analysis. In reality there are numerous inputs that determine actual relative value for tangibles against each other. However it’s results are illuminating and there are 2 important points that stick out for me here:
1) The first is that clearly at present utilising income on the acquisition
of monetary metals is of lowest priority to the average person. In annual
spending terms, it seems energy comes a massive first with food and
infrastructure, second and third. In normal times this could be argued to make eminent sense, as these three are directly associated to standard of living.
But we are not in normal times.
We are presently living under the shadow of a collapsed monetary system and are in the early throws of a multi-generational monetary crisis.
It is becoming increasingly obvious that the Global Fiat Dollar Standard is flawed and breaking down. It’s only main paper alternative the Euro
is being rightly recognised for being equally as flawed.
This is leading to increasing imbalances within the global financial system, one of which is a seemingly unified desire across the currency spectrum for colossal devaluation.
This problem is not getting better but is in fact starting to accelerate.
Complex and outrageous new monetary tools are being utilised like Quantitative Easing in order to retain the Status Quo and keep the house from collapse.
But as yet no sustainable cure has materialised that will rescue the system in it’s current structure. It is therefore not unreasonable to expect priorities to change and the desire to preserve wealth and subsequently retain standard of living will likely mean a increasing move out of the paper mess and into the monetary metals for security.
2) It’s not hard to see a massive imbalance here. Whether you consider silver a monetary commodity or an industrial commodity, you can see that it’s value on this measure is completely out of sink with it’s peers.
In comparison to gold, it could be argued to be some 5 times undervalued, and if compared to copper over 6 times undervalued!
Considered with the fact that annual production of silver against annual demand has been running a well advertised deficit for some 20 years makes this all the more perplexing.
This is just another measure that shows that silver is perhaps the most undervalued tangible asset in the world.
With it’s demand soaring and the monetary crisis unfolding, it would be a brave man betting on this gross imbalance continuing indefinitely!
Best,..
Rich
(Live from ‘The Scarborough Bullion Desk’)
