1 00:00:03,680 --> 00:00:06,200 Michael Thompson: Welcome to Ask Fear and Greed, where we answer questions 2 00:00:06,240 --> 00:00:11,000 Michael Thompson: about business, investing, economics, and politics and more. I'm Michael Thompson. And 3 00:00:10,400 --> 00:00:11,776 Michael Thompson: hello Sean Aylmer. 4 00:00:11,960 --> 00:00:12,320 Sean Aylmer: Hello, Michael. 5 00:00:12,880 --> 00:00:16,120 Michael Thompson: I like this question today and I know you love it. Okay, 6 00:00:16,520 --> 00:00:21,239 Michael Thompson: it's a fairly straightforward question. Maybe it has a straightforward answer. I'm 7 00:00:21,239 --> 00:00:22,720 Michael Thompson: tipping though, if you have anything to do with it, 8 00:00:22,760 --> 00:00:24,720 Michael Thompson: the answer will not be straightforward and matter in fact, 9 00:00:24,760 --> 00:00:30,640 Michael Thompson: be long and convoluted. The question is. We always hear about gold? 10 00:00:31,360 --> 00:00:34,600 Michael Thompson: Why don't we ever hear about silver? 11 00:00:35,720 --> 00:00:40,040 Sean Aylmer: So this was actually a more interesting response than I 12 00:00:40,080 --> 00:00:41,120 Sean Aylmer: thought it was going to be. 13 00:00:41,320 --> 00:00:42,120 Michael Thompson: Does that mean long? 14 00:00:43,200 --> 00:00:44,840 Sean Aylmer: Yeah, get yourself as a cup of tea. 15 00:00:44,920 --> 00:00:46,479 Michael Thompson: Okay, sit back, off we go. 16 00:00:48,280 --> 00:00:52,000 Sean Aylmer: The obvious answer, gold is just much rarer than silver. 17 00:00:52,520 --> 00:00:53,760 Sean Aylmer: That's the bottom line. 18 00:00:53,960 --> 00:00:55,200 Michael Thompson: Is it substantially rarer? 19 00:00:55,640 --> 00:00:58,640 Sean Aylmer: Oh? I'm so pleased you asked? Did you know in 20 00:00:58,720 --> 00:01:00,200 Sean Aylmer: the Earth's crust. 21 00:01:00,200 --> 00:01:02,160 Michael Thompson: God, I walked into that one, there. 22 00:01:01,920 --> 00:01:06,080 Sean Aylmer: Is twenty times more silver than gold. Really, they estimate that. 23 00:01:06,680 --> 00:01:10,480 Sean Aylmer: Did you know that? Since you know, we begin the 24 00:01:10,520 --> 00:01:14,880 Sean Aylmer: world began, there's been about one point four billion kilos 25 00:01:14,959 --> 00:01:19,600 Sean Aylmer: of silver, mind three hundred and eleven million kilos of gold? 26 00:01:20,880 --> 00:01:26,319 Sean Aylmer: So four times more silver. Mind four and a half 27 00:01:26,319 --> 00:01:30,160 Sean Aylmer: times more silver mine than gold. See this is interesting. 28 00:01:30,240 --> 00:01:37,280 Michael Thompson: That is genuinely interesting. Normally I kind of pretend to be interested. Yeah, no, 29 00:01:37,400 --> 00:01:38,440 Michael Thompson: this is genuine. 30 00:01:38,600 --> 00:01:40,440 Sean Aylmer: Yes, there are other factors. Can I tell you what 31 00:01:40,440 --> 00:01:40,720 Sean Aylmer: they are? 32 00:01:41,160 --> 00:01:42,479 Michael Thompson: I don't think I could stop you. 33 00:01:42,560 --> 00:01:46,240 Sean Aylmer: And this is Atkinson Bullion dot Com told me about this. Okay, 34 00:01:46,280 --> 00:01:48,200 Sean Aylmer: these I didn't. I mean, some of these I knew, but 35 00:01:48,200 --> 00:01:50,520 Sean Aylmer: others I didn't. Say. Gold and silver are both mined. 36 00:01:51,080 --> 00:01:53,960 Sean Aylmer: The actual process of mining and extracting gold is much 37 00:01:54,040 --> 00:01:57,120 Sean Aylmer: much harder than silver. Okay, so it's just more costly. 38 00:01:57,680 --> 00:01:58,360 Michael Thompson: That makes sense. 39 00:01:58,440 --> 00:02:03,760 Sean Aylmer: That makes sense. Well yes, why well you said that 40 00:02:03,800 --> 00:02:08,000 Sean Aylmer: it's silver, So I know how they mined gold, but 41 00:02:08,240 --> 00:02:10,600 Sean Aylmer: I don't know quite how they mind silver. Let's move. 42 00:02:10,639 --> 00:02:11,560 Michael Thompson: It starts with a shovel. 43 00:02:14,639 --> 00:02:17,400 Sean Aylmer: I don't know much more than that, but it all 44 00:02:17,440 --> 00:02:20,880 Sean Aylmer: starts with a rush. Gold has been used as a form 45 00:02:20,919 --> 00:02:24,800 Sean Aylmer: of money for centuries. Right, It doesn't tarnish. Silver tarnishes 46 00:02:24,800 --> 00:02:31,480 Sean Aylmer: it does. It's really low maintenance compared to silver, so 47 00:02:31,520 --> 00:02:35,880 Sean Aylmer: that adds to the appeal. Gold and silver are both 48 00:02:35,919 --> 00:02:39,000 Sean Aylmer: malleable metals yep, that can be easily shaped in the 49 00:02:39,000 --> 00:02:41,520 Sean Aylmer: coins bar it's jewelry. However, gold's got a much much 50 00:02:41,560 --> 00:02:45,480 Sean Aylmer: higher density, which means basically means a little bit can 51 00:02:45,560 --> 00:02:48,880 Sean Aylmer: go a long way relative to silver. Ah. 52 00:02:49,000 --> 00:02:52,520 Michael Thompson: Okay, so you can't like spread it out as to 53 00:02:52,600 --> 00:02:54,920 Michael Thompson: cover something, you know, how like they have. 54 00:02:55,040 --> 00:02:57,119 Sean Aylmer: You can spread gold out much easier than you could 55 00:02:57,160 --> 00:03:00,080 Sean Aylmer: spread silver. Okay. 56 00:03:00,360 --> 00:03:01,959 Michael Thompson: I'm about to ask you a question that I don't 57 00:03:01,960 --> 00:03:05,040 Michael Thompson: know whether your researcher has covered this. I'll go on 58 00:03:06,080 --> 00:03:07,880 Michael Thompson: industrial uses for silver. 59 00:03:08,120 --> 00:03:11,880 Sean Aylmer: Ah, because often you have kind of because it's got 60 00:03:11,880 --> 00:03:16,120 Sean Aylmer: different conductive qualities and things to gold, and so it 61 00:03:16,160 --> 00:03:18,200 Sean Aylmer: has different industrial uses. 62 00:03:18,840 --> 00:03:21,000 Michael Thompson: This is me trying to remember what I learned in 63 00:03:21,080 --> 00:03:21,480 Michael Thompson: year ten. 64 00:03:21,960 --> 00:03:29,560 Sean Aylmer: Yes, so industrial uses of silver mostly it's around like electronics, 65 00:03:29,639 --> 00:03:34,520 Sean Aylmer: solar energy, then through to medicine, some chemical production, that 66 00:03:34,520 --> 00:03:38,360 Sean Aylmer: type of stuff. Okay, it's really conductive silver, yep. So 67 00:03:38,440 --> 00:03:40,560 Sean Aylmer: that's kind of why it fits into a lot of those. 68 00:03:42,240 --> 00:03:44,720 Sean Aylmer: It's sort of electronic applications and stuff like that. It's 69 00:03:44,720 --> 00:03:47,520 Sean Aylmer: a lot cheaper than gold, Okay, so that's mostly what 70 00:03:47,600 --> 00:03:52,920 Sean Aylmer: it's what it's used for. You interrupted. The other reason 71 00:03:52,960 --> 00:03:54,960 Sean Aylmer: why silver's cheaper than. 72 00:03:54,880 --> 00:03:57,240 Michael Thompson: Gold really broke your float, and you. 73 00:03:57,160 --> 00:03:59,960 Sean Aylmer: Did, and this one that you and I have discussed 74 00:04:01,160 --> 00:04:05,720 Sean Aylmer: quite a bit jewelry. So, like gold and silver are 75 00:04:05,760 --> 00:04:09,080 Sean Aylmer: both jewelry, but gold is just more popular than silver, 76 00:04:10,040 --> 00:04:12,400 Sean Aylmer: and a big chunk of the like that three hundred 77 00:04:12,400 --> 00:04:15,960 Sean Aylmer: and eleven million kilos of gold that's been created or 78 00:04:15,960 --> 00:04:18,680 Sean Aylmer: that's been extracted is actually for jewelry. Didn't we work 79 00:04:18,760 --> 00:04:20,360 Sean Aylmer: up as eleven percent of or something to do? Yeah, 80 00:04:20,400 --> 00:04:24,760 Sean Aylmer: something like that, something like that. Basically, the color has 81 00:04:24,880 --> 00:04:29,119 Sean Aylmer: been more popular, Like gold's been found in caves dating 82 00:04:29,160 --> 00:04:33,640 Sean Aylmer: back forty thousand years or to forty thousand BC, two 83 00:04:33,640 --> 00:04:37,400 Sean Aylmer: thousand years if that's the case, really important in ancient Egypt, 84 00:04:37,480 --> 00:04:41,800 Sean Aylmer: ancient Greece, So it's kind of always had that aura 85 00:04:42,680 --> 00:04:44,159 Sean Aylmer: about it that silver hasn't. 86 00:04:44,839 --> 00:04:47,560 Michael Thompson: How much is it worth? Sean? Like, you know how we 87 00:04:47,600 --> 00:04:50,320 Michael Thompson: always give the gold price. Why don't we ever give 88 00:04:50,360 --> 00:04:52,320 Michael Thompson: the silver price? How much is silver worth? 89 00:04:52,400 --> 00:04:54,599 Sean Aylmer: Well? I could do that. I mean it's around fifty 90 00:04:54,880 --> 00:04:57,839 Sean Aylmer: US dollars an ounce. That's not that exciting, though, is it? 91 00:04:58,760 --> 00:05:00,400 Michael Thompson: It's alright. Well, this might be the only time that we 92 00:05:00,400 --> 00:05:03,880 Michael Thompson: ever mentioned the silver price on fear and Greed. Possibly. have 93 00:05:03,960 --> 00:05:06,320 Michael Thompson: you got any more facts and figures? 94 00:05:06,360 --> 00:05:07,039 Sean Aylmer: Now I'm done. 95 00:05:07,279 --> 00:05:08,400 Michael Thompson: You spent hours. 96 00:05:08,640 --> 00:05:10,480 Sean Aylmer: I'm done searching, well, do you know what a precious 97 00:05:10,520 --> 00:05:14,279 Sean Aylmer: metal is? How? He's a question for you. So what's 98 00:05:14,279 --> 00:05:16,320 Sean Aylmer: the other? So silver and gold of precious metals? 99 00:05:16,800 --> 00:05:18,000 Michael Thompson: Platinum? 100 00:05:18,440 --> 00:05:22,120 Sean Aylmer: Nice? Is that? Yes? Yeah, that is that's the other 101 00:05:22,200 --> 00:05:25,159 Sean Aylmer: main Yeah, yeah, yeah, yeah, yeah. A lot of jewelry 102 00:05:25,160 --> 00:05:28,679 Sean Aylmer: these days, Pat, And that's exactly right. But you stunned 103 00:05:28,720 --> 00:05:32,240 Sean Aylmer: me that you actually knew that copper's metal. But it's 104 00:05:32,240 --> 00:05:35,360 Sean Aylmer: not the conscious because there's there's so much of it. 105 00:05:35,400 --> 00:05:37,799 Michael Thompson: Was it the fact that I got that right in particular? 106 00:05:37,920 --> 00:05:39,600 Michael Thompson: Or was it the fact that I would get anything right? 107 00:05:42,720 --> 00:05:46,120 Michael Thompson: Time to go home, savage in here, Sean. Look, thank 108 00:05:46,120 --> 00:05:48,600 Michael Thompson: you for answering the question. I think you've you've I mean, 109 00:05:48,720 --> 00:05:50,680 Michael Thompson: you've done a lot of research on that, and so 110 00:05:50,839 --> 00:05:52,800 Michael Thompson: I hope you feel that it was worthwhile I did. 111 00:05:52,839 --> 00:05:55,440 Sean Aylmer: I've found a learned a lot today, as have I. 112 00:05:55,640 --> 00:05:58,080 Michael Thompson: Indeed, And if you have a question that you would 113 00:05:58,080 --> 00:06:01,400 Michael Thompson: like us to answer, it can be as specific is 114 00:06:01,880 --> 00:06:04,479 Michael Thompson: asking about the silver price. You can make it broad 115 00:06:04,520 --> 00:06:06,880 Michael Thompson: about politics or the economy or anything. Just send it 116 00:06:06,920 --> 00:06:09,160 Michael Thompson: on through via the website fearangreed dot com dot au, 117 00:06:09,680 --> 00:06:12,720 Michael Thompson: or go to social media LinkedIn Instagram, Facebook, Send you 118 00:06:12,760 --> 00:06:14,920 Michael Thompson: a question in and we will pop it on the list. I'm 119 00:06:14,960 --> 00:06:17,080 Michael Thompson: Michael Thompson and this is Ask Fear and Greed.