(baystatebanner.com) - The Ugandan government’s recent announcement of a $12 trillion gold discovery has generated a ton of domestic intrigue as well as a bit of foreign skepticism. That’s because the $12 trillion amount is said to exceed the entire market capitalization of all gold ever mined in human history, according to a Canadian-online financial newsletter Pinnacle Digest. That discovery, reported to be 320,000 metric tons, presents an implausible amount considering world production is just 3,000 metric tons annually. The amount of gold suddenly available to be mined in a country slightly smaller than Oregon would, no doubt, create a precipitous reduction in gold value. The mother lode so far has been estimated mainly by airborne satellite but not yet substantiated by underground drilling and the multiple step process necessary to verify the claims. However, Pan-Africanist scholar James Small believes that the satellite technology is most likely a solid indicator of a substantial find whatever its amount.
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