Is Gold the biggest fraud in history?

Image result for gold

I will agree that gold is only valuable to us because we’re isolated on earth. In fact, you can argue that the only reason any material substance is valuable is we’re locked off from the resources of space.

That being said, gold is absolutely not a fraud.

It was actually extremely important in creating a stability in historical monetary systems and the substance itself is extremely important in various areas of engineering.

  1. It’s a stable substance. It doesn’t oxidize or react to most common materials in the same way other substances do. This means that a bar of gold or a gold coin is going to last for an EXTREMELY long time in comparison to other things.
  2. Gold ensured that there was always something of universal value in place regardless of what government came and went. If your government collapses and a new government moves in, unless they are nice and decide your currency can be exchanged for theirs…you’re broke. Even if they did accept it, currency exchange rates could end up making a currency valueless. Look at Germany’s Marks after WW2. People were burning piles of them for warmth because it made more sense.
  3. Gold is extremely important with regards to engineering.
    1. It can be used to create brazened alloys which are more resistant to oxidation degradation. This makes it valuable to increasing resistance.
    2. Gold is used for high quality current contacts in electronics. Conduction of current is known to cause corrosion of the contacts in electronics. Gold plated contacts have a much longer lifespan and can ensure that electronics run more smoothly. This is the standard for microprocessors and memory chip socket connectors.
    3. All space equipment uses gold. Gold particles act as a form of lubrication on satellites and other aerospace equipment to ensure that no errors occur. The telescopes of various NASA telescopes are all coated with gold.
  4. The same importance can be found in the medical industry.
    1. The same perks found in the engineering areas of gold usage extend into the electronics of medical electronics.
    2. Radioactive gold particles have been used in cancer treatment. They are used to apply careful amounts of radiation to targeted areas of cancer treatment. One example found that it could be used on prostate cancer but without the typical side-effects of normal radiation treatments.

Calling gold a scam isn’t wrong if we are discussing the way businesses and companies tell off gold as part of finance scams. That being said, Gold is objectively useful. No one can look at the amount of uses for the stuff and claim it isn’t of extreme importance.

 

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