> If we were suddenly totally awash in gold, I guess the price would go down.
Yes, and this has happened at least twice in history: when Europeans discovered the Americas and moved a bunch of gold into Europe, and when Europeans discovered World Wars and moved a bunch of gold back to the Americas.
Europeans stole so much gold from S America it messed up the economy in China.
https://static.seekingalpha.com/uploads/2008/1/7/cngold106bi...
This is a neat chart.
Yet 75% of all gold was mined after 1965, and that chart doesn’t seem to notice.
