The gold you see in the photo above was not found in a river or a mine. It was produced by a bacteria that, according to researchers at Michigan State University, can survive in extreme toxic environments and create 24-karat gold nuggets. Pure gold.
Maybe this critter can save us all from the global economic crisis?
On the contrary, this is not the dream, it is the nightmare. This bug, if it really can “create” 24-karat gold nuggets, or can in the future be persuaded to, might destroy gold as a meaningful replacement for the deranged fiat currencies now ruining all out lives.
A commenter tries to reassure us about the cost of this process, but his misspelling of “affect” does not inspire me with much confidence:
This is cost-prohibitive on a large scale, so it would/could not really effect the gold market.
Well maybe for a while, but technology these days is notoriously prone to plunge in cost with the passing of time.
The good news is that this bug doesn’t, like a government creating fiat money, create gold out of thin air. It creates it out of gold chloride. I presume that gold chloride is very roughly as rare as gold itself, as in similar order of magnitude rare. Heaven help the global economy if it is not rare. According to this Gizmodo piece, gold chloride costs “Less than gold, but still plenty”. Please, make it so.
As to the future, please, let no very large stashes of gold or gold chloride be found on nearby planets or asteroids.
Thank you Instapundit. Or not as the case may be.