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Boron: Making Modern Life Possible

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Boron: Making Modern Life Possible

Boron: Making Modern Life Possible

When it comes to modern living, there are so many things we take for granted.

We sleep in warm and comfortable houses, while keeping our food fresh and refrigerated. We have screens in our pockets and throughout our homes that help us to connect with our friends and family – and we can drive across town in minutes to see them, if need be.

Oddly enough, many of these subtle aspects of modern living would not be possible without the existence of very specific minerals and the developments in technology that allow them to be used to their full potential.

Enter Boron

Boron is an unlikely hero in this regard.

Today’s infographic comes from 20 Mule Team Borax, and it covers the properties, applications, market, and future trends surrounding boron. And even though you probably didn’t know much about this metalloid element before today, you’ll soon see that boron’s versatile applications make it an integral part of modern life in many ways:

In fact, boron has an incredible range of properties and uses that make it interesting to us humans:

  • It’s an essential micronutrient for plants
  • It improves the performance of cleaning products
  • It captures neutrons, making nuclear reactors safer
  • It absorbs infrared light, useful for energy efficiency
  • Boron limits growth of bacteria and fungi on wood products
  • It helps to balance acidity and alkalinity
  • Boron makes glass resistant to heat or chemicals
  • Boron prevents corrosion in many settings
  • It be used to make advanced materials
  • It can be used in materials and coatings to suppress flames
  • Boron can be added to steel or aluminum, or used in super-magnets
  • It can link alcohols and carbohydrates together in oil recovery

As a result of this vast array of applications, boron is used in everything from smartphone screens to fertilizer.

Small amounts of boron sit in the walls and ceiling of your home, your kitchen, your bathroom, and your driveway – and it’s even in a lot of food since it is an essential micronutrient for plants.

Future Megatrends

There are three megatrends that are driving future boron consumption: urbanization, energy, and agriculture.

Urbanization
By 2025, China will have 221 cities with over 1 million people. Boron is heavily used in cities and buildings, in applications such as glazed ceramics, LCD televisions and electronics, appliances, and textile fiberglass.

Agriculture
Because boron helps regulate the reproductive cycle of plants, it is needed to help maximize food production for a growing population. In India, the use of boron and other micronutrients is being supported by government projects and subsidies to ensure that farmers increase productivity.

Energy
Boron is also used in energy saving applications such as insulation, which will be key as green building practices are encouraged throughout the world. Borates are also used to create the high-powered magnets in applications like wind turbines, making them even more important for a green future.

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Gold

The World’s Gold and Silver Coin Production vs. Money Creation

In 2019, the value of global money creation was over 500 times higher than the world’s gold and silver coin production combined.

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World's Gold and Silver Coin Production

Global Gold & Silver Coin Production vs. Money Creation

Note: Data has been updated to correct a previous calculation error pertaining to Japanese Yen money supply.

Both precious metals and cash serve as safe haven assets, intended to limit losses during market turmoil. However, while modern currencies can be printed by central governments, precious metals derive value from their scarcity.

In this infographic from Texas Precious Metals, we compare the value of the world’s gold and silver coin production to global money creation.

Total Production Per Person, 2019

We calculated the value of global currency issuance in 2019 as well as precious metal coins minted, and divided by the global population to get total production per person.

Throughout, global money supply is a proxy based on the 5 largest reserve currencies: the U.S. dollar, Euro, Japanese Yen, Sterling Pound, and Chinese Renminbi.

2019 ProductionOuncesDollar ValueDollar Value Per Person
Global Gold Coins7,204,982$10.9B$1.42
Global Silver Coins97,900,000$1.8B$0.23
Global Money Supply$4.3T$556.33

All numbers are in USD according to exchange rates as of December 31 2019. Gold and silver values are based on the 2019 year close price of $1,510.60 and $17.90 respectively.

The value of new global money supply was 390 times higher than the value of gold coins minted, and 2,400 times higher than silver coins minted.

Put another way, for each ounce of minted gold coin, the global money supply increased by more than $593,000.

Change in Annual Production, 2019 vs. 2010

Compared to the start of the decade, here’s how annual production levels have changed:

 20102019% change
Global Silver Coins (oz)95,900,00097,900,0002.1%
Global Gold Coins (oz)6,298,3317,204,98214.4%
Global Money Supply (USD)$2,936,296,692,440$4,268,993,639,92645.4%

Annual increases to global money supply have increased by half, far outpacing the change in the world’s gold and silver coin production.

Even more recently, how has production changed during the COVID-19 pandemic?

The COVID-19 Effect

In response to the global pandemic, central banks have enacted numerous measures to help support economies—including issuing new currency.

The global money supply increased by more than $6.8 trillion in the first half of 2020. In fact, the value of printed currency was 930 times higher than the value of minted gold coins over the same timeframe.

Investors may want to consider which asset is more vulnerable to inflation as they look to protect their portfolios.

Want to learn more? See the U.S. version of this graphic.

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Visualizing U.S. Money Supply vs. Precious Metal Production in the COVID-19 Era

Amid trillions in COVID-19 stimulus, this graphic compares new U.S. dollars printed to U.S. precious metal coin production.

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U.S. Precious Metal Coin Prduction

U.S. Precious Metal Coin Production in the COVID-19 Era

Gold and silver have played an important role in money throughout history. Unlike modern currencies, they can’t be created out of thin air and derive value from their scarcity.

In the COVID-19 era, this difference has become more prominent as countries print vast amounts of currency to support their suffering economies. This graphic from Texas Precious Metals highlights how the value of U.S. precious metal coin production compares to U.S. money creation.

Year to Date Production

In this infographic, we have calculated the value of money supply added as well as bullion minted, and divided it by the U.S. population to get total production per person. Here’s how the January-September 2020 data breaks down:

 Total (Ounces)Dollar ValueDollar Value Per Person
U.S. Gold Ounces826,000$1.6B$4.79
U.S. Silver Ounces22,261,500$544M$1.65
U.S. Money Supply$3.4T$10,250.16
U.S. Debt$3.8T$11,578.36

Gold and silver dollar values based on Oct 5, 2020 spot prices of $1,915.93 and $24.47 respectively.

The value of new U.S. money supply was more than 2,100 times higher than the value of new gold minted. Compared to minted silver, the value of new U.S. money supply was over 6,000 times higher.

Production Per Day, Per State Over Time

Here’s how production has changed on a per day, per state basis since 2010:

 20102020 YTD (Jan-Sep)Min-Max Production, 2010-2019 
Minted Gold Coins 78oz61oz12oz-78oz 
Minted Silver Coins 1,945oz1,631oz899oz-2,633oz 
U.S. Dollars$19M$255M$19M-$50M 

Year to date, U.S. precious metal coin production is within a normal historical range. If production were to continue at the current rate through December, gold would be above historical norms at 81 ounces and silver would be within the normal range at 2,175 ounces.

The issuance of U.S. dollars tells a different story. Over the last nine months, the U.S. has already added 400% more dollars to its money supply than it did in the entirety of 2019—and there’s still three months left to go in the year.

A Macroeconomic View

Of course, current economic conditions have been a catalyst for the ballooning money supply. In response to the COVID-19 pandemic, the U.S. government has issued over $3 trillion in fiscal stimulus. In turn, the U.S. Federal Reserve has increased the money supply by $3.4 trillion from January to September 2020.

U.S. Money Supply

Put another way, for every ounce of gold created in 2020 there has been $4 million U.S. dollars added to the money supply.

The question for those looking for safe haven investments is: which of these will ultimately hold their value better?

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