Olympic gold medals only 1.34% gold
derryb
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Austerity At The Olympics
"The 2012 gold is 92.5 percent silver, 6.16 copper and... 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500."
"The 2012 gold is 92.5 percent silver, 6.16 copper and... 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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lots and lots of sweat and what do I get, a fake Gold Piece.
Those private industry advertising contracts, now theyr'e worth some Gold. Then again the key word is Private enterprise.
R up 5+
Gold medals at the Olympics haven't been gold for 100 years - the last one was given out in 1912.(source)
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<< <i>Those private industry advertising contracts, now theyr'e worth some Gold. Then again the key word is Private enterprise. >>
Two things. First, with the endorsement dollars our athletes receive, they can commission a one-off 100% Au copy of the medal ... I don't feel bad for them ... the immortality and respect they gain from winning a medal far outweighs the value of the gold content ...
Second, what did
<< <i>R up 5+ >>
mean? Forum slang or inside joke???
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>The notion of austerity with regard to this entire subject is horribly misleading. (I blame the zerohedge author, not you derryb)
Gold medals at the Olympics haven't been gold for 100 years - the last one was given out in 1912.(source) >>
The author's reference to austerity (reduction in personal benefit from one's effort) is a fitting reference to the reduction of gold content in the awarded medal over the years. Olympic gold medals still contain gold, but the percentage has been whittled away to the current 1.34%.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
In challenging Malaysia's six-strong badminton team with the offer of a 12.5 kilogramme (27.5-pound) gold bar worth 2 million ringgit ($630,000), Kam said, "I can produce gold, I believe they too can produce gold".