I’m clearly no economist so maybe I’m missing something obvious, but I cannot wrap my head around why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be. Why do we assume that the dollar will always be valuable?
I could be incorrect, but it seems like there is no guarantee that there will be a rebound after a crash (see: 2008). It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.
So, boom and bust seems like the greatest misnomer of all time.
Gold's used regularly for electroplating stuff, and is used to solder the ends of wires. It's a good conductor and there's a fair chance that whatever device you used to compose this message has gold circuitry in it.
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Not even, aluminum is useful as a structural material for vehicle and building applications. Gold is only ever functionally needed as a thin sheet.
Fun fact: when Napoleon had important guests to dinner, he didn't use his gold silverware. He used aluminum silverware. Because it was more expensive than gold.
Yes but all of those applications require miniscule amounts of the stuff. The reason it's expensive is because shiny.