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Speaker 1: Welcome to Ask Fear and Greed, where we answer questions

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Speaker 1: about business, investing, economics, and politics and more.

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Speaker 2: I'm Michael Thompson.

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Speaker 1: And hello seawan Ail Mama, Michael, I like this question

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Speaker 1: today and I know you love it. Okay, it's a

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Speaker 1: fairly straightforward question.

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Speaker 2: Maybe it has a straightforward answer.

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Speaker 1: I'm tipping though, if you have anything to do with it,

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Speaker 1: the answer will not be straightforward and matter in fact,

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Speaker 1: be long and convoluted.

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Speaker 3: The question is.

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Speaker 2: We always hear about gold? Why don't we ever hear

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Speaker 2: about silver?

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Speaker 3: So this was actually a more interesting response than I

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Speaker 3: thought it was going to be.

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Speaker 2: Does that mean long?

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Speaker 3: Yeah, get yourself as a cup of tea.

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Speaker 2: Okay, sit back, if we go.

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Speaker 3: The obvious answer, gold is just much rarer than silver.

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Speaker 3: That's the bottom line.

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Speaker 2: Is it substantially rareer?

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Speaker 3: Oh? I'm so pleased you asked? Did you know in

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Speaker 3: the Earth's crust.

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Speaker 2: God, I walked into that one, there.

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Speaker 3: Is twenty times more silver than gold. Really, they estimate that.

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Speaker 3: Did you know that? Since you know, we begin the

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Speaker 3: world began, there's been about one point four billion kilos

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Speaker 3: of silver, mind three hundred and eleven million kilos of gold?

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Speaker 3: So four times more silver. Mind four and a half

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Speaker 3: times more silver mine than gold. See this is interesting.

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Speaker 2: That is genuinely interesting.

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Speaker 1: Normally I kind of pretend to be interesting.

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Speaker 2: Yeah, no, this is genuine.

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Speaker 3: Yes, there are other factors. Can I tell you what

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Speaker 3: they are?

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Speaker 2: I don't think I could stop you.

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Speaker 3: And this is Atkinson Bullion dot Com told me about this.

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Speaker 2: Okay, these I didn't.

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Speaker 3: I mean, some of these I knew, but others I didn't. Say.

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Speaker 3: Gold and silver are both mined. The actual process of

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Speaker 3: mining and extracting gold is much much harder than silver. Okay,

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Speaker 3: so it's just more costly.

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Speaker 2: That makes sense.

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Speaker 3: That makes sense. Well yes, why well you said that

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Speaker 3: it's silver, So I know how they mind gold, but

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Speaker 3: I don't know quite how they mind silver. Let's move.

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Speaker 2: It starts with a shovel.

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Speaker 1: I don't know much more than that, but it all

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Speaker 1: starts with a rush.

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Speaker 3: Gold has been used as a form of money for centuries. Right,

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Speaker 3: It doesn't tarnish. Silver tarnishes it does. It's really low

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Speaker 3: maintenance compared to silver, so that adds to the appeal.

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Speaker 3: Gold and silver are both malleable metals yep, that can

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Speaker 3: be easily shaped in the coins bar it's jewelry. However,

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Speaker 3: gold's got a much much higher density, which means basically

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Speaker 3: means a little bit can go a long way relative

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Speaker 3: to silver. Ah.

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Speaker 1: Okay, so you can't like spread it out as to

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Speaker 1: cover something, you know, how like they have.

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Speaker 3: You can spread gold out much easier than you could

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Speaker 3: spread silver. Okay.

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Speaker 2: I'm about to ask you a question that I don't

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Speaker 2: know whether your researcher has covered this. I'll go on

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Speaker 2: industrial uses for silver.

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Speaker 1: Ah, because often you have kind of because it's got

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Speaker 1: different conductive qualities and things to gold, and so it

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Speaker 1: has different industrial uses.

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Speaker 2: This is me trying to remember what I learned in

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Speaker 2: year ten.

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Speaker 3: Yes, so industrial uses of silver mostly it's around like electronics,

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Speaker 3: solar energy, then through to medicine, some chemical production, that

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Speaker 3: type of stuff. Okay, it's really conductive silver, yep. So

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Speaker 3: that's kind of why it fits into a lot of those.

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Speaker 3: It's sort of electronic applications and stuff like that. It's

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Speaker 3: a lot cheaper than gold, Okay, so that's mostly what

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Speaker 3: it's what it's used for. You interrupted. The other reason

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Speaker 3: why silver's cheaper than.

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Speaker 2: Gold really broke your float, and you.

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Speaker 3: Did, and this one that you and I have discussed

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Speaker 3: quite a bit jewelry. So, like gold and silver are

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Speaker 3: both jewelry, but gold is just more popular than silver,

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Speaker 3: and a big chunk of the like that three hundred

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Speaker 3: and eleven million kilos of gold that's been created or

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Speaker 3: that's been extracted is actually for jewelry. Didn't we work

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Speaker 3: up as eleven percent of or something to do? Yeah,

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Speaker 3: something like that, something like that. Basically, the color has

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Speaker 3: been more popular, Like gold's been found in caves dating

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Speaker 3: back forty thousand years or to forty thousand BC, two

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Speaker 3: thousand years if that's the case, really important in ancient Egypt,

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Speaker 3: ancient Greece, So it's kind of always had that aura

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Speaker 3: about it that silver hasn't.

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Speaker 2: How much is it worth? Sean?

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Speaker 1: Like, you know how we always give the gold price.

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Speaker 1: Why don't we ever give the silver price? How much

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Speaker 1: is silver worse?

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Speaker 3: Well? I could do that. I mean it's around fifty

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Speaker 3: US dollars an ounce.

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Speaker 2: That's not that exciting, though, is it?

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Speaker 1: All right?

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Speaker 2: Well, this might be the only time that we ever mentioned.

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Speaker 1: The silver price on fear and Great Possibly have you

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Speaker 1: got any more facts and figures?

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Speaker 3: Now I'm done.

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Speaker 2: You spent hours.

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Speaker 3: I'm done searching, well, do you know what a precious

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Speaker 3: metal is? How? He's a question for you. So what's

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Speaker 3: the other? So silver and gold of precious metals?

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Speaker 2: Platinum?

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Speaker 3: Nice? Is that? Yes? Yeah, that is that's the other

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Speaker 3: main Yeah, yeah, yeah, yeah, yeah. A lot of jewelry

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Speaker 3: these days, Pat, And that's exactly right. But you stunned

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Speaker 3: me that you actually knew that copper's metal. But it's

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Speaker 3: not the conscious because there's there's so much of it.

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Speaker 1: Was it the fact that I got that right in particular?

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Speaker 1: Or was it the fact that I would get anything right?

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Speaker 1: Time to go home, savage in here, Sean. Look, thank

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Speaker 1: you for answering the question. I think you've you've I mean,

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Speaker 1: you've done a lot of research on that, and so

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Speaker 1: I hope you feel that it was worthwhile I did.

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Speaker 3: I've found a learned a lot today, as have I.

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Speaker 1: Indeed, And if you have a question that you would

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Speaker 1: like us to answer, it can be as specific is

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Speaker 1: asking about the silver price. You can make it broad

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Speaker 1: about politics or the economy or anything. Just send it

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Speaker 1: on through via the website fearangreed dot com dot au,

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Speaker 1: or go to social media LinkedIn Instagram, Facebook, Send you

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Speaker 1: a question in.

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Speaker 2: And we will pop it.

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Speaker 1: On the list are Michael Thompson and this is ask

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Speaker 1: fear and Greed