Hard Money: A Quick History on the Noble Metals – Gold, Silver, Platinum, Palladium
We’ve all heard the macroeconomic arguments to own gold. Today I want to talk about the actual scientific chemical reasons that separates gold from all of the other metals on the periodic table.
I am sure you will be surprised by what science has to say.
First, gold is inert which means it’s very inactive. It does not react with oxygen like iron does (think rust).
That makes gold an excellent store of value.
If all the elements in the periodic table were characters in a reality TV show, gold would easily be the most “boring.”
Why? Because gold is inert. It isn’t hooking up with anyone.
Yes, gold is the ultimate celibate element.
Let me explain why this is important—chemically speaking, of course.
The Alchemist’s History on Hard Money
There are 118 elements on the periodic table, of which gold is one.
Take away the 17 gases (gases are of no value for this exercise).
Also remove the six metalloids, which are elements that don’t know if they are a metal or a non-metal since they have traits of both (e.g., antimony, arsenic, silicon).
Thus, we end up with ninety-five elemental metal contestants on our Currency Reality Show.
Of the ninety-five metals on the periodic table, eighty-five are “active.” This means they are fun to watch on our reality TV show because they are always hooking up with another element.
But remember, activity always results in oxidation or corrosion.
If you want a metal for long term storage value, you don’t want it to change. You want it to hold its own, maintain its integrity, and not degrade.
For example, iron has many useful applications, but it oxidizes, then rusts. Iron is active and would be fun to watch its decay on the reality TV show for entertainment value.
But it’s bad if you want to use it as a currency. The coinage will rust away. And the last thing you want is a metal that debases itself.
Politicians and central bankers don’t need any help doing that; they do a wonderful job of making debasement of currency happen on their own.
#gold #silver #copper
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