so why does its price dictate everything?
2006-11-02 15:55:20 · 6 answers · asked by whatwhatwhat 5 in Social Science ➔ Economics
It is a very important metal .It is used in electronics because it is very conductive. It can be stretched very thin to make thin wires. It can be pounded so thin you can see through it. The astronauts visors are coated with a thin layer of gold to reflect the dangerous UV rays from the sun. It is very stable and wont corrode. So it it ideal for electronics that have to last a long time. It is highly prized . Since it is it can be traded among different countries as a means of exchange since one country may not accept another's money as payment. It is used in dental work because it is hypoallergenic and stable. Gold is used in some medical studies to cure illnesses and help medical problems. Jewelry is not its only use. I prospect for gold as a hobby. Most of the gold ever mined is still in circulation today. And 80% of the worlds gold is still in the ground.
2006-11-04 06:39:29 · answer #1 · answered by carolinatinpan 5 · 1⤊ 0⤋
Gold is not a big deal at all. In fact, it's really stupid of so many people to place value in it. I'll tell you what. Why don't you give all your gold to me. I'll take it off your hands, and won't even charge you for it.
For your information, gold is the only store of value that has retained its value through MILLENNIA. Paper currencies that have no gold backing have NEVER lasted even a century. All of them have disintegrated in a hyperinflationary panic.
The US dollar has lost more than 90% of its value, since FDR confiscated Americans' gold, in the 30s. The rate of decay has only increased, since Nixon closed the "gold window", in the early 70s. All over the Internet, and in newspapers around the world, people are making bets on how much longer the US dollar can survive as the world's reserve currency. The consensus is, "not much longer".
When the dollar tanks, you'll understand what the "big deal about gold" is. If you have some, you'll still be able to buy food. If you don't, you'll be at the mercy of the Universe. I hope, for your sake, that the Universe is kind.
2006-11-03 06:45:32 · answer #2 · answered by Larry Powers 3 · 0⤊ 0⤋
Actually, gold is used in many items. But that's not what makes it valuable. It is relatively scarce compared to other metals and minerals. Have you ever walked in the park and just happened to kick a stone and you found it to be gold? I didn't think so. :)
2006-11-03 02:18:56 · answer #3 · answered by vinny_the_hack 5 · 0⤊ 0⤋
the computer you are using right now has some gold in it
and gold is the worlds biggest currency
it looks good
2006-11-03 00:37:06 · answer #4 · answered by ck 3 · 1⤊ 0⤋
If the U.S. currency were to be counterfeited in double its amount, this would cause collapse. Gold is not easily counterfeited is it? And notes may be useless during war-time.
2006-11-03 00:05:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋
dear dont mind but gold is not useles..acc. to indian astrolgy and tantra vigyan the gold was used in daily life as kings used to wear it and to eat food in the gold vesssels ..which keep them healthy and mentally fit,.... but today this concept is lost .. but the only thing remain is it isGOLD.. hhahahh
2006-11-03 00:00:33 · answer #6 · answered by CHANDAN G 2 · 1⤊ 0⤋