Gold
Page 26
Cuzco, 27–31, 37, 38
cyanide, 107–9, 137, 140, 146, 196
cyanide and heavy metals leak, 196
Daily Mail (London), 175
Dakar, 188, 195, 204, 210
Dalato camp, 204–7
Dalian, 131
Damseaux family, 220
Danube River, 196
Davidoff, Steven, 158
Dean Ranch, 86
debts:
of European countries, 176, 185
U.S. national, 62, 165–66
deep mining, 3, 6–7
see also Mponeng mine
deflation, 55
de Gaulle, Charles, 63–64
Democrats, 66
Dempster, Natalie, 160–62
Deng Xiaoping, 126–27, 143
Denver, Colo., 105, 110, 111
Deutsche Bank, 169–70
Diabougou, 212
diamonds, 80, 209, 217
Díaz, Bernal, 26
Dingha Cissé, 188
District Court for Massachusetts, U.S., 178
divine right, 8
Dodd-Frank Act, 225–26
dollar, Canadian, 72
dollar, Spanish (“pieces of eight”), 45
dollar, U.S., 45, 53, 55, 57, 60–65, 118, 159, 168
Bretton Woods and, 61–64
floating considered for, 65
foreign holdings of, 58, 62, 63, 65, 68–70, 72
gold convertibility and, 50, 58, 60, 62, 63, 65, 69, 70, 72, 74, 75, 96
gold prices and, 178
value of, 60, 65, 69, 70, 72
doubt, 181
Dräger Oxyboks self-rescuer, 3–4
Drake, Francis, 42
Dubai, 4
ducks, gold refining and, 119
Durban taxi wars, 10
Durba town, 228–29
Economist, 165
economy, 62, 227, 228
European, 43
global, 101
gold standard and, 44, 54, 55, 60
U.S., 71, 73, 74, 165–66
Egypt, 187, 200, 201
Eichengreen, Barry, 44, 55–56
Eichmann, Adolf, 97
Eisenhower, Dwight D., 71
Elko, Nev., 107, 111, 112
Eloff, Zahan, 6
Ely, Nev., 87
Emergency Banking Act (1933), 58
empowerment, South African use of term, 11
England, 46, 50
privateers of, 41–42
Entebbe, 215, 216
“escalator” clause, 103
Esterhuizen, Leon, 21
ETFs, see exchange-traded funds
eunuchs, 120
Eureka County, Nev., 81, 83–87, 89
euro, 165
European banking regulators, 154, 159–63, 177
European Central Bank, 179
European Union, 71, 160, 203–4
exchange rate, 46
exchange-traded funds (ETFs), 154–58, 166–68, 176, 180–81
structural effect of, 156, 157
Executive Order 6102, 58–59
Exxon Corporation, 105
Falémé River, 202, 204, 205, 211, 212
“fall of ground,” 3
Fante people, 191
farm exports, U.S., 50
fear, 96, 97, 139, 176, 177, 227
Federal Reserve, 55–56, 69, 70, 75, 175, 178
Feng Tao, 116–18, 123, 148–50
Financial Times, 178–79, 181n
First World War of Africa, 217
Five-Year Plan, Chinese, 130
Fleming, Peter, 141
Fleury, Jean, 41
Florentine Codex, 26–27
Florida Strait, 41
fluxes, 91
“fooling the rock,” 7
Forbidden City, 120
Fordham, John, 173
Fortieth Parallel Survey, 80
Fort Knox, Ky., 56, 65, 69
forward selling, 113–14
France, 45, 50, 63–64, 120, 175
in Africa, 197, 203
gold shortage in, 45–46
gold standard in, 50, 58
privateers of, 41–42
fraud, 159, 178, 184
Free State province, 15, 18
free trade, 62
Friedland, Robert “Toxic Bob,” 136–37, 144
futures, 166
G20, 160, 163
Gaddafi, Muammar, 164
Gambia River, 198, 200
gangs, 8, 16, 171–75, 225
garnets, 80
Gastrow, Peter, 19–20
Gcaba, Mandla, 10–11
Geological College, 126
geology, geologists, 77–93, 111
in Africa, 195–200, 205–11, 226
in China, 124–27, 132, 144
George V, King of England, 57
geothermal gradient, 5–6
Germany, 49, 64, 72, 120, 175
banks of, 169–70
bonds of, 160
in World War II, 61, 97–99
Getty Oil, 105
Ghana, 195
Ghanian drillers, 206
ghost miners, 8
Gilmour, David, 100, 101
global financial system, dollar’s role in, 65
God, 8, 25–26
gold:
demand for, 45–46, 64, 154
difficulties of dealing in, 171–75
Inca, 29, 33, 36–40
ornaments, 29, 33, 193
sacred aura of, 8–9, 38, 227
“sacred thirst” for, 23
safe-haven function of, 180–81
secrecy and, 153, 156–57, 164–66, 168–71, 175–80, 185, 203, 204
as “sentiment indicator,” 96
as shadow money, 75
Spanish melting of, 38–39
as stubborn element, 107
as surprise, 90
as universal money, 171
uses of, 181, 185–86
value of, 22, 36, 153, 154, 161, 185, 227
Gold Acres mine, 84, 89, 91
Gold Anti-Trust Action Committee (GATA), 177–78
Gold Army, 126–27
Gold Canyon, 79
Gold Coast, 190, 195
gold coins, 158, 159, 164, 175
gold empires, African, 188–95, 199–200
Ashanti, 189–95
Golden Constant, The (Jastram), 185
Golden Eagle (yacht), 182–83
Gold Fields, 4, 21
Goldline International, Inc., 158–59
gold lords, 150–51
gold mining:
accidents in, 4, 196, 202, 217–18
Barrick and, 102–14
in China, 115–27, 129–52
deep-sea, 228
in gold empires, 190, 199
of Incas, 29
in Kibali, 215–29
in Mali, 198, 200, 202, 203, 204
in Romania, 196
in Senegal, 196, 204–13
in South Africa, 1–22, 102, 104
Gold Mining History of Zhaoyuan with a Review of the Gold Industry in the P.R. [People’s Republic of] China (Gong Runtan and Zhu Fengsan), 121–22
gold money, 42, 43, 46, 70
invention of, 22–23, 155
Nixon Shock and, 75
Gold Platform, 147, 150
gold prices, 2, 12, 13, 17, 46, 59, 64, 69, 72, 95–96, 182–85
Barrick and, 105, 111–14, 163, 164–65
Bernanke’s views on, 75
bimetallism and, 45
BIS exchange and, 176, 177–78
Bretton Woods and, 64, 69
bubble and, 158
California rush and, 49
China and, 126, 132, 134, 152
Congo and, 218, 219, 221, 225, 226–27
cooking of, 60
fixing of, 169–71, 182
futures and, 166
gold trusts and, 103
instability of, 156–60, 162–68
invisible gold and, 90, 93
Mansa Musa an
d, 200
Mercur sale and, 106
Munk’s interest in, 102
Nixon Shock and, 75, 96
power and, 8–9
put options and, 165
spot, 155, 168, 226
Tasiast discovery and, 222
theft and, 18–19, 21
trading volumes and, 154
West African finds and, 204, 206
gold rushes, 2–3, 23, 93
as adventure, 188
in Africa, 204, 212, 216, 218, 228–29
in California, 47–49, 79, 201
in China, 133, 147, 150
in Nevada, 79
unequal effects of, 228–29
gold scrap market, 173, 174
goldsmith-bankers, 43
Goldsmiths’ Hall, 175
gold standard, 42–65, 68–75
Bretton Woods system and, 61–64
currency credibility and, 54–55
operations of, 43–44
reversal of fortunes and, 50–54
withdrawal from, 57–58
Goldstrike mine, 106–7, 109–12
fast-closing tactical window and, 110
increase in reserves of, 111–12
miners needed by, 111–12
Newmont compared with, 107
traffic at, 142
gold-to-silver price ratio, 45, 46
gold trusts, 103, 104
gold window, closing of, 65
Golmud, 147
Gong Runtan, 121–23
Gora target, 206–8
Gray, Thomas, ix
Great Britain, 64, 120, 175
Ashanti state and, 190–95
Bretton Woods and, 61
gold standard in, 49, 52, 57
newspapers in, 69, 72, 173, 174, 175, 177
silver money in, 44–45
see also England; London; Scotland
Great Depression, 44, 57, 60
Great Zimbabwe, 187
Greece, 176, 185
greed, 27, 96
“greenback,” 50
Guardian, 69
guilder, Dutch, 72
Haggard, H. Rider, 187–88, 201
Haldeman, H. R. (Bob), 67, 73
Hall, Greg, 145
Hangzhou, 125
harquebus, 26
Hawks (elite unit of the South African police), 16–19
Hayes, “Dad,” 82
heap leaching, 108–9, 155
Heathrow airport, 172
hedge funds, 159, 165, 184
hedges, hedging, 96, 103, 118, 159, 227
Heitt, Dean, 81, 110
Hemingway, Ernest, 224
Hemming, John, 29, 31, 35, 39
Henan province, 148
herders, 212
Herodotus, 209
Hill, Alan, 104–7, 109, 111, 112, 196
hired guns, 9–16
Ho Chi Minh Trail, 111
Hodgson, Sir Frederick, 194
Hohhot, 139
Hoh Xil Lake, 147, 150
Holland, 49–50, 58, 64, 72
Homestake mine, 90
Hong Kong, 181n
Hong Kong and Shanghai Banking Corporation, 169
Hoover, Herbert, 58
horses, 25, 31, 32, 34–35, 36
hotels, 99, 101, 102, 138
in Africa, 197–200
housing, 112, 229
Howe, Reginald, 178
HSBC Bank, 167, 169–70, 171
Huáscar, 31
Huayna Capac, 30–31
Human Rights Watch, 220
Hunan province, 146
Hungarian Jews, 97–99, 103
Huston, John, 92
hypothecated gold, 180
Iceland, 177
Idaho, 80
illegal miners, 8–22
in China, 140, 144, 145, 147, 148, 150–51
as illegal immigrants, 17
police limitations and, 17–18
time spent underground by, 8
zama-zamas, 14–15, 19
immigrants, illegal, 17
Incas, 27–30
armies of, 31–33, 36, 38, 39
culture of, 28–29, 36–39
roads of, 28, 30, 31, 36
wars of succession of, 30–31
Inchcape, Earl of, 101
India, 19, 115, 197, 201
Indian Ocean, 228
inflation, 64–65, 67, 68, 75, 178
Inner Mongolia, 130, 136–45, 228
insect hills, sampling, 209
Institute for Security Studies, South African, 18–19
interest rates, 51, 54, 62, 113, 162, 226, 228
International Monetary Fund (IMF), 62, 177
International Peace Institute, 19–20
international trade, 42–43, 45
international trade fairs, 43
Internet, 158
investment, 19, 112, 114
exchange-traded fund as, 154–57, 166–68, 180–81
in gold trusts, 103
hedging and, 96, 227
invisible gold, 77–93
iron oxide, 205
iron sulfide, 208
isotopes, decay of, 205
Israel, 101
Italy, 64
Jacobz, Willie, 21
Japan, 62, 64, 74, 120, 175
in World War II, 121–22, 123
Jastram, Roy, 185
jewelry, 155, 162, 173, 176, 181, 192
demand for, 154
Jiang, X. D., 136–37, 142–46
Jiang Qixu, 123
Jiao Lai basin, 151
Jinshan Gold Mines, 136
Johnson, Lyndon, 73
Jonah, Sam, 219, 220
junior mining companies:
predators attracted by, 221
use of term, 220
Kaisin, Jean, 197, 200
Kasztner, Rezso, 97
Kasztner’s Train (Porter), 97, 98–99
Kasztner train, 97–99
Kayes, 201–2
Kédougou, 198–99
Kédougou-Kéniéba Inlier, 198, 204
Kennedy, John F., 66–67
Kenya, 223
Kibali, 215–29
discovery of gold at, 217
Moto and, 219–21
Randgold and, 221–23, 225–26, 229
Ugandan soldiers at, 217–18
Kilo-Moto greenstone belt, 217, 219–21
King Solomon’s Mines (Haggard), 187–88, 201
Kinross Gold Corp., 224
Kinshasa, 220
Kiyosaki, Robert, 131
Klosters, 101–2
Kumasi, 191–94
Land that Time Forgot, The (Burroughs), 187–88
Lead, S. Dak., 90
Lehman Brothers, collapse of, 2, 160, 162
Lenin, V. I., 126
Lesotho, 17
Liaodong Peninsula, 131–32
Liaoning province, 131–35
Libya, 164
licenses, 203, 206, 212
Lima, 40
limestone, 80–81, 83–87, 89
Linglong, Mount, 122
Linglong mine, 116–24
China’s retaking of, 123
Japan’s capture of, 121–22, 123
legend about, 118
Wei’s running of, 120
liquidity, liquidity buffer, 154, 159, 160–63, 165, 173
Livermore, Caroline, 88
Livermore, John Sealy, 87–93, 95
at Blue Star, 91–92
at Newmont, 89, 92
Roberts’s paper read by, 87, 90–91
at Standard mine, 88, 89, 92
Livermore, Mount, 88
lode deposits, 85, 88, 89
London, 45, 49, 50, 52, 57, 64, 69, 160–62, 169–75
banks in, 153–54, 166–67, 169–71
“Blackberry riots” in, 9
bullion market in, 2, 153–54, 161, 163–64, 165, 170
Claridge’s Hotel in, 99, 102
gold crime in, 172–75
gold price fixing in, 169�
��71, 182
goldsmith-bankers in, 43
Munk in, 99, 101, 102, 182–84
London, University of, 119
London Bullion Market Association (LBMA), 154, 161
London Gold Fixing, 169–70
London Gold Pool, 63–64
London Good Delivery standards, 167, 171
Lord’s Resistance Army, 216
Lost World, The (Conan Doyle), 187–88
Louisiana, 45–46
Loulo deposits, 204
Lovelock, Nev., 88
Luk Fook Group, 181n
Lundin, Lukas, 222, 223–24
Lundin Petroleum AB, 223
Lydia, 22
Lynn window, 92
Ma (Chinese farmer), 146–47, 150
McAleenan, Colin, 129–35
McAvoy, “Mad Mickey,” 172–74
Machu Pichu, 28
Maggie Creek Canyon, 85
magnetite, 205
magnetometers, 205
Mako Hills, 198
Malawi, 17
Mali, 196–204, 211, 212, 216
Soviet relations with, 201, 202, 203
Mali Empire, 199–200
Malinche, La, 26–27
Malinke people, 200
Mali syndicate, 203–4
Manchu dynasty, 120
Mandela, Nelson, 11
Mandela, Zondwa, 11
Manifest Destiny, 48
Mansa Musa, 199, 200, 201
manufacturers, 68, 74, 100
man winders, 4–6
Maoism, 147
Maoling (or Cat Hill), 132
Mao Zedong, 123, 124, 126
maps, 194, 199, 201, 205
margin calls, 181
mark, German, 72
Marshall, James, 47
Massawa, 204
Mauritania, 222, 224
Mavor, Jim, 164–65
merchants, 42–43, 68, 188–89
Mercur mine, 104–6, 109
mercury, 213
mercury amalgamation, 146
Mexican miners, 48
Mexico, 26–27, 30, 42, 45, 162
Mexico-Tenochtitlán, 26–27
millionaires, Chinese, 138, 144
min cai (village mining), 148
miners, 111–14
Barrick’s need for, 111–12
in China, 115–16, 120, 121, 123, 139–49
forward selling and, 113, 114
illegal, see illegal miners
at Kibali, 217, 218, 225
in Soreto, 211
mining, mines, see deep mining; gold mining; specific mines
Minmetals Resources, 99–100
Mirror (London), 174
Mobutu Sese Seko, 217, 219
Mocatta, Moses, 170
money:
gold, see gold money
gold’s loss of formal relationship with, 168
Incas and, 28, 36
paper, 43–44, 46, 50, 59, 75, 166
silver, 44–45, 49–50
money supply, size of, 50
Mongolia, see Inner Mongolia
Mongols, 119–20, 139, 140
Montenegro, 183
Montezuma, 26–27
Morgan, J. Pierpont, 51–54
Morgan, Junius, 51, 52
Morgan, Miles, 51
Morgenthau, Henry, Jr., 60, 61
Morila deposits, 204
mortgages, 112
mosques, 199, 200
Moto Goldmines Limited, 219–23
Mouctar, Thierno Mamadou, 209–10