Saw this video about gold, it’s chemical structure and malleability. I still don’t understand why gold is worth anything at all……
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It’s valuble because there is a very finite amount of it, and it really doesn’t have many practical uses. Not having very many practical uses means that it’s market value is relatively stable, because it is not being bought & consumed in large quantities. Rather it is hoarded as a means to insure against economic downturns.
This is one reason why it, and other precious metals (copper & silver) were often used in currencies. The idea is that the coin cannot possibly be worth less than the raw material it’s made of, no matter what the currency is backed by. So the coin essentially “backs itself” to a point. And it’s harder to counterfeit coins made purely from precious metals in a way that’s worthwhile.
However, gold’s incredibly stable price is also why it’s *not* really that valuble. Gold is a good way to beat inflation, and insure against an economic collapse, but it isn’t at all valuble as an *investment*. The modern capitalist economy of the world is built on economic growth, gold usually doesn’t get any more or less valuble as time passes by, so having gold doesn’t really make you any more or less wealthy.
Now, if you *find* gold, like a previously undiscovered vein of gold that hasn’t been mined or claimed by somebody, that can make you more wealthy, but most of the world’s gold has already been found & claimed.
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