Are any world currency's backed by gold, page 2
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reply posted on 31-8-2006 @ 02:56 AM by jlc163
Originally posted by ArbitraryGuy
Originally posted by ajh91
If so how could the USD crash if all the other major currencies are worth just the same. Nothing!!!

Seriously, what's the inherent value of gold?
Thought to be rare, it became one of the few standards.

There is plenty of uses for gold.
Some help
Apart from the obvious use of gold alloys in dental restorations, there are also a number of direct applications of gold in medical devices. As with dental applications, these are related to the excellent biocompatibility of gold as a material. Applications include wires for pacemakers and gold plated stents used in the treatment of heart disease.
...
Two of the most commonly referred to gold compounds in such treatments are Myocrisin and Auranofin.
...In the last few decades the properties of gold compounds have been of interest as potential HIV agents and cancer treatments. Researchers at the National University of Singapore have just patented novel gold complexes for use in pharmaceuticals for the treatment of cancer. Currently, the most widely used treatments for many types of cancers are platinum based drugs, with the major drawback of serious side effects. Associate Professor Leung Pak Hing and his team have discovered that phosphine supported gold complexes have excellent anti-tumour activity and clinical trials are likely to begin in the near future.
Basically, most people aren't allergic to pure gold, so it's good to put inside the body. Here
One of the most exciting things about catalysis by gold are the 'light off' temperatures that are achieved (that is the temperature at which the catalyst becomes functional). Potentially, gold catalysts operate best in the temperature range 200-350K compared to a platinum catalyst's optimum performance in the range 400-800K.
Here

It is hard for a metal to be useless. Anything that conducts electricity is useful. You cut open a phone chord, the the tube is usually copper, but when you look at the jack end, in some cases, the metal the goes through the plastic end nub is gold.


reply posted on 31-8-2006 @ 05:22 AM by jlc163
Older uses of gold:
Nearly all of the gold mined by the ancients was wrought into idols, shrines, bowls, vases, flasks, cups and jewellery. Later, about 1000 BC., gold and silver came into general usage for coins as a medium of exchange, certainly in all countries between the Indus and the Nile and probably on a much more widespread geographical basis. By Philip of Macedon's time (356 BC.) gold and silver were generally valued in the ratio of 10:1. This value ratio did not change much through the centuries that followed for we find that in England the ratio in 1464 was 11:1 according to the recorded mint price. Since then there has been considerable fluctuation in the value ratio as shown in Table I. There is an interesting comment in the Engineering and Mining Journal (vol. 95, p. 1163, 1913) with regard to the origin of the ratio of value between gold and silver that merits quotation:
...
It was supposed that the Lydians were unable to separate the gold from the silver, but when we find by assay that the proportions in these old coins of gold to silver were approximately as 73 and 27, calculating gold as 13 1/3 times as valuable as silver, and we find that an electrum coin would be worth exactly 10 silver coins of the same weight, we cannot help but admit that the Lydian assayers must have been well versed in the science and practice of their art, and that such figure cannot be mere coincidences.
Remember Gold is really malleable, and simple (while not necesserily easy) to find. It is perfect to make into graven images.

In many places, it looks like Iron was mroe vaueable:
Here

In many cases, I don't think that Gold was as precious as we make it today. Yes, it bought a lot because metalwork was rare, but it's value in accordance to other things was lower.



reply posted on 7-9-2006 @ 08:26 PM by TeslaandLyne
Originally posted by RetinoidReceptor
Originally posted by Stratrf_Rus
Silver is not rarer than Gold, where'd you hear that crap?


Actually yes silver is rarer than gold.

news.silverseek.com...
www.moneyweek.com...

Don't knock it until you know it dude


The closest I am to it is stock in a canadian zinc mine that says it will have
silver too. Not that keen on public stocks but metals are important.
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