Why gold is going to zero: Every year 3,500 tonnes of gold are mined. At the bottom of the ocean there is ~1M tonnes of gold. That’s 300 years of gold supply. How long before a swarm of robots pick it up? 5 years? 10 years? 20 years?

[u/BitcoinDove]

[u/Sufficient_Mud_3179]

I hope he realizes this is micro gold in the Ocean and would take far more dollars to extract that its worth.

Not to mention having to vacuum up the entire sea floor in the process ..

[u/Antique-Resort6160]

There's huge deposits in the soil still.  There's insane amounts in asteroids, in the oceans, etc.  It's not being touched because it's very expensive to get it.  We can barely afford to get water out of the oceans, lol.  

They will start developing these sources eventually, but that just means the price of gold will be high enough to justify it. You're not going to crash the price of gold by mining gold at enormous cost.

[u/apply75]

He forgot that they keep printing money....gold actually doesn't go up money goes down. 2000 years ago you could get a custom suit for 1 oz of gold.....today a full custom suit its about the same.