Gold and gold backing in modern society,

MalteseFlcon
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Gold and gold backing in modern society,

Everyone knows how expensive gold it is right? But have you ever asked yourself why?

Let me start off by saying gold is super rare, very hard to mine / find, and very expensive people who own lots of gold typically have lots of wealth. BUT, There are several other elements that are many times more rare than gold. Take IRIDIUM for example cheap but very very very rare.

My point to all this is gold's real world utility is about 0. The only thing gold is really good for is coating electrical connections. Imagine a time in the future when gold is the currency used could you imagine toting around tons of gold chiseling off little bits and pieces as you need them testing them for purity and proving what you have is real gold and then the change that you get would have to be tested and weighed. You'd have to be versed in metallurgy. To me gold is just a pretty peice of metal. And with the price being what it is unrealistic to use as a currency. All the testing and measuring and weighing that would be involved places would only accept 24 or 22 carrot gold you might have 10 or 12 carat gold you might not be able to buy your food that day. CRYPTO CURRENCY IS THE FUTURE. Having a fiat backed by gold is useless and unrealistic. A world without gold I see. A world without digital currency I cannot.