Dont bother with this money maker, Elder Rune Bars Smithing

I saw this on a video recently, it said just smelt Elder Rune Bars, and the bonus bars you get will make like 4m prof an hour. Well i tested this, and it does not work at all.

Here is the test:

Lets try smithing 1000 Bars

Totals:

Rune Bar: 3,035,000

Dark Animica: 4,700,000

Light Animica: 7,907,000

Total Cost: $15,642,000

Time Spent Smithing (With Smithing Gauntlets): 40 Minutes

Price Calculator for Bars, including additional bars: $15,694,400

Actual Sold Price: $15,695,488

So total profit is... Nothing ;)

$15,695,488 - $15,642,000 

= 

$53,488!!

Aka.. dont bother.