Quote:
Originally Posted by The Demon
I said Gold didn't have any significant industrial uses. Whenever it's used, it's a miniscule amount.
Yea, I will never do that. If you look at the Romans, the Greeks, the Persians, the Assyrians, gold was the one thing they all traded, and they all at one point had financial collapse when they tried to use an ancient form of fiat currency.
And yes wig, the great depression was a deflationary depression but it had a lot to do with the Gold Standard they switched to after WW1.
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"About 78% of the gold consumed each year is used in the manufacture of jewelry."
It's used in "everything" - It's even in the pills you take.
Cell phones have about 50 cents of gold in them (just those tiny cell phones) and over 1 billion cell phones are produced with Gold in them each year. Most of the connectors in your PC and devices that plug into them have gold pins. Ruby glass color building = gold in the glass.
Truly I can list the shit for ever... don't underestimate gold used in Industry.
Again, we have soooooooo much gold, we just throw it away.