Economic depression and mining?
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Thread: Economic depression and mining?

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  1. #1
    Charter Member
    us
    Oct 2015
    Northern Nevada
    MineLab GPZ 7000 Garrett ATX Pro
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    Prospecting

    Economic depression and mining?

    Where we concentrate our efforts out in Rye Patch, NV one can find gold with just basic tools. Certainly enough gold to eke out a living and even some extra.

    If we enter a major depression I’m curious if there would be a push for people to head to the gold fields? We’d be willing of course to open some of our claims just to help out. If one is willing to dig and with gold at $1800 money can be made.

    We prospect in areas of Nevada that once had towns of thousands. Now there is nobody. Could those towns partially revive to support people scratching for gold? Or are we beyond those days?

    No idea what the future holds economically. Thinking worse-case scenario for this discussion.

    Chuck

  2. #2

    Feb 2014
    907
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    All Types Of Treasure Hunting
    Three of the biggest gold rushes in the US were 1) the big push starting 1848, 2) The Great Depression and 3) Nixon's gold Bugaboo in 1971
    Clay Diggins likes this.
    Never confuse motion with progress


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  3. #3

    Mar 2015
    98
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    All Types Of Treasure Hunting
    Making decisions when one is hungry, broke and desperate can always lead down dirt roads to Rye Patch, Nevada. Gold, at $1800 an ounce definitely shines.

  4. #4
    us
    Jul 2020
    San Diego
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    20 times
    All Types Of Treasure Hunting
    Quote Originally Posted by ratled View Post
    Three of the biggest gold rushes in the US were 1) the big push starting 1848, 2) The Great Depression and 3) Nixon's gold Bugaboo in 1971
    #4 - Central banks around the world (not just the fed) printing obscene amounts of fiat money in 2020. $1800 will look cheap in a few years, in my opinion at least.
    russau likes this.

  5. #5
    us
    Feb 2015
    Moses Lake WA & Provo UT
    501
    708 times
    Prospecting
    I feel like if people were willing to actually work that hard for a living, there are plenty of other ways you could make just as much or more money, but maybe not in a "major depression" as you say.

 

 

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