Word: goldings
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...people of the scrub hills of China's eastern Shandong province have an ancient get-rich-quick formula. Just find the home of the sun god. When he tired of flying in his chariot, the legend goes, he would rest in a gold-filled cave on Mount Luo. For thousands of years people have searched for the sun god's lair, and they're still at it today. At the Dayingezhuang mine 19 miles (30 km) south of Mount Luo, workers take an open elevator car for a 21/2-minute plunge down a dark, icy shaft. At the bottom, amid swirling...
...crib it isn't. But for every ton of rock pried from the earth, two grams of gold will be produced. Last year the Dayingezhuang mine turned out 78,000 ounces of gold, worth more than $78 million at the current price of around $1,000 an ounce. There's more ore where that came from. The mine's operator, Hong Kong-listed Zhaojin Mining Industry Co., expects to get 80,000 ounces from Dayinggezhuang this year. It's a story that is playing out at thousands of other Chinese gold mines that, with metal prices soaring, are ramping...
...country is merely regaining its former glory. The Chinese have been pulling gold from the earth since the Song dynasty 1,000 years ago. But after the communist takeover in 1949, mining went dormant for decades. Personal ownership of gold was banned as a bourgeois extravagance, and production rarely broke 20 tons a year. That started to change with economic reform in the 1990s. Small wildcat operations began to proliferate, and these relatively unsophisticated outfits dominate the sector today. While countries such as South Africa, Australia, the U.S. and Canada get most of their production from a few dozen large...
...could see he lost valuable time because of the pedal and frame," recalls Jager. "The last 50 m were unstable." Not all that unstable, to be sure, but enough to cost him the gold medal by milliseconds. Next time around, Jager vowed, Bos would close that...
...wacky let's-relitigate-the-currency-debates-of-the-1820s sense of the word. The late William F. Buckley wanted conservatives to stand athwart history yelling stop; Paul seems to want to slam history into reverse. The guy genuinely wants to abolish the Federal Reserve and start circulating gold again...