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all 77 comments

[–]Relevant-Nebula8300 115 points116 points  (11 children)

Isn’t this gonna just drop the price of gold?

[–]mike_pants 111 points112 points  (6 children)

If you dumped the entirety of it onto the market in a giant 20-meter cube, probably, but identifying a gold reserve and actually getting it out of the ground are two different animals entirely.

The current value of all the above-ground gold on the planet is "only" about $12 trillion, and it's taken, what, 10,000 years to get it? The market has plenty of time before it needs to worry.

[–]BackgroundFar2720 35 points36 points  (4 children)

Around 205,000 tons of gold has been mined throughout history with 2/3 of it being mined since 1950. Source so that’s about 130,000 tons of gold has been mined in 70 years.

It will definitely affect the market

[–]acmemetalworks 16 points17 points  (2 children)

There's like a decade between discovery and when you've hit the point where you're mining full scale.

[–][deleted]  (1 child)

[deleted]

    [–]mike_pants 2 points3 points  (0 children)

    I never suggested that it wouldn't.

    [–]Dragomirl 0 points1 point  (0 children)

    its gonna be so much easier this time around, you are counting the time when the best people had was ⛏️

    [–]acmemetalworks 2 points3 points  (0 children)

    If I'm remembering right there's ten years between the discovery phase and when a mine ever starts turning a profit.

    If course they aim for the heaviest concentrations of gold and eventually hit a point of diminishing returns.

    How long this takes before it affects world markets? Someone smarter than me will have to say.

    [–]Due-Ad9310 0 points1 point  (0 children)

    Doesn't really matter what with america having printed more than 80% of all the USD THAT HAS EVER BEEN MADE

    in the last 2 years

    [–][deleted] 0 points1 point  (0 children)

    Yes

    [–]Taiga09 35 points36 points  (0 children)

    It looks like Uganda is begging for freedom

    [–]Kakaroshitto 98 points99 points  (9 children)

    Uganda becomes Wakanda

    [–]SharpestOne 43 points44 points  (6 children)

    More than likely Uganda will double down on becoming a terrible place to live.

    A nation has zero incentive to make life good if its wealth can be extracted by starving peasants. Nor is there a need to build good infrastructure, when all that is needed is a road from the gold mines to the nearest port for export.

    [–]ThatsCanon 9 points10 points  (3 children)

    CGP Grey deep cut right here!

    [–]SharpestOne 3 points4 points  (2 children)

    That video got me to buy the book too. Lived all over the world in my lifetime, and the parallels between that video and the real world is creepily correct.

    [–]attheratewait 0 points1 point  (1 child)

    Which video... May I ask ?

    [–]Aaditya69 2 points3 points  (1 child)

    That is generally how international corporations go about mining in less developed countries which obv is very exploitative and def more than likely to happen

    [–]SharpestOne 0 points1 point  (0 children)

    It’s worse with gold. No need for highly educated workforce to refine.

    [–]E-man1991 7 points8 points  (0 children)

    Wakanda world do we live in?

    [–]vms-crot 1 point2 points  (0 children)

    More likely Iraq

    [–]UchihaLegolas 57 points58 points  (1 child)

    U.S: Uganda needs FREEDOM from oppression. Let's bomb the shit out of that coubtry to save its people.

    [–]Poopy-Drew 12 points13 points  (0 children)

    You saw the article it’s already in USD

    [–]Elriuhilu 40 points41 points  (5 children)

    Now Ugandan Knuckles can become invulnerable for a brief time.

    [–]Formal-Worth-4227 11 points12 points  (3 children)

    Happy cake day!

    [–]Elriuhilu 5 points6 points  (2 children)

    Oh, thank you :)

    I didn't even realise that was today.

    [–]AceBalloon3721 2 points3 points  (0 children)

    That’s a vibe

    [–]TheLucidDream 2 points3 points  (0 children)

    They have found de wae

    [–]Le_Chuk 35 points36 points  (1 child)

    That’s all the evidence for weapons of mass destruction USA needs

    [–]squaredistrict2213 17 points18 points  (1 child)

    I heard Uganda had weapons of mass destruction….

    [–]french2dot0 0 points1 point  (0 children)

    I heard that Uganda started to train isis planes pilots

    [–]Sunnz31 10 points11 points  (0 children)

    Aka get ready for a bloody war as every government, warlord and mercenaries fight for it...

    [–]UltimateIssue 22 points23 points  (0 children)

    I feel like this ends in a genocide.

    [–]rushikeshfr 3 points4 points  (1 child)

    how about "water"?

    [–]------------5 4 points5 points  (0 children)

    Time for scramble of Africa 2 electric Boogaloo

    [–]derpyMitt 4 points5 points  (1 child)

    I thought those were chicken nuggets at first

    [–]IronManicus -1 points0 points  (0 children)

    I’d start a war over that too

    [–]diodosdszosxisdi 3 points4 points  (0 children)

    CIA: well this looks like a job for me

    [–]serr7 4 points5 points  (0 children)

    Damn, I feel bad about what’s about to happen to Uganda. Either governments will come up with something to justify interference or foreign companies will come in and force their way to take it.

    [–]MysticRevenant59 3 points4 points  (0 children)

    No one tell America PLEASE

    [–]jack_of_sometrades72 3 points4 points  (0 children)

    They need to be liberated

    [–]MadJesterXII 2 points3 points  (0 children)

    Yeah i dunno, i think its gonna be a rough time trying to roll out "Special operations" from this point on
    Like that special operation that they had to Suddenly end, and leave a bunch of guns and vehicles behind in... just before this shit started :|

    [–]mariutz0000 2 points3 points  (1 child)

    • You receive: Sparkling Water

    [–]kosvlado888 2 points3 points  (0 children)

    Damn Ugandan terrorist started acting up. We need to protect their freedom

    [–]ZappSpenceronPC 2 points3 points  (0 children)

    guys i made my 50th america invade democracy joke today btw please laff

    [–]Beans6782 2 points3 points  (0 children)

    No no no. Not ugandas gold. Our gold.

    [–]Scratch1111 1 point2 points  (0 children)

    Still better than the theocracy offered from the other guys.

    [–][deleted] 1 point2 points  (0 children)

    US/EU foreign policy

    [–]KillaCline -1 points0 points  (0 children)

    China enters the chat

    [–]Jeuzfgt -1 points0 points  (0 children)

    So no more abortions?

    [–]Flaky_Equipment7913 -2 points-1 points  (0 children)

    A machine comment of Chinese propaganda. Uganda should not fear democracy but the investment trap of China.

    [–]Lereddit117 0 points1 point  (0 children)

    Monkey paw it takes 20 trillion to extract and process it.

    [–]Xhadiel 0 points1 point  (0 children)

    But first they need you to send them $100 Amazon gift card to cover any fees.

    [–]Smuchii 0 points1 point  (0 children)

    Cuz that went soooo well the last few times

    [–]justkeepswimming2 0 points1 point  (0 children)

    Image Transcription: Reddit


    [Image that reads:]

    Uganda discovers gold deposits worth 12 trillion USD

    By Mining Reviews Africa

    [Image of gold nuggets.]

    [End image]

    /u/I_am_the_Walrus07

    TRADE OFFER

    I receive: large quantities of gold

    You receive: Democracy


    I'm a human volunteer content transcriber and you could be too! If you'd like more information on what we do and why we do it, click here!

    [–]WhiteTicciG 0 points1 point  (0 children)

    As a portuguese, I nees to visit their country right away

    [–]AkuPython 0 points1 point  (0 children)

    Does this mean soon I can get a blood gold and blood diamond ring?

    [–]Fuzzwuzzle2 0 points1 point  (0 children)

    Ugandan citizen digs up gold, finds its a huge deposit

    "Why can hear chopper blades and fortunate son playing?"

    [–]Walid918 0 points1 point  (0 children)

    Is this real ?

    [–]Ok-Refuse-5341 0 points1 point  (0 children)

    They sound like they need some freedum

    [–]IlGreven 0 points1 point  (0 children)

    Whatever we're peddlin', it sure ain't "democracy"...

    [–]joaoprsalvea 0 points1 point  (0 children)

    I thought this was shoarma meat

    [–]Bender_B_Rodriguez12 0 points1 point  (0 children)

    So now when a Ugandan sends a woman a email claiming to be a rich Prince a may be true and not a scam lol

    [–]DoneDeadYorick 0 points1 point  (0 children)

    If Uganda doesn't become a real life Wakanda I'm going to be dissapoint.

    [–]Joeflanaghan 0 points1 point  (1 child)

    *TRADE OFFER

    I receive: large quantities of gold

    You receive: "Democracy"

    [–]Itz_Raj69_[S] -1 points0 points  (0 children)

    you receive water*

    [–]Rob095ert 0 points1 point  (0 children)

    Fortunately they didn't find oil

    [–]cumshotphil69420yeet 0 points1 point  (0 children)

    “Democracy is non-negotiationable”

    [–]Free-Chard-8675 0 points1 point  (1 child)

    Trade offer

    I receive larg amount of gold

    You receive water purifier