tommywho70x
Rookie
- Apr 15, 2010
- 826
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- Banned
- #21
Gold has essentially no industrial use. It is a nice, shiny, yellow metal. It is only valuable because we "say" it is.
This is simply not true.
Gold is one of the best conductors of all metals. It also has enormous heat retention capabilities, and radiation reflection capabilities too. And maybe most importantly, it last forever. It does not rust and rot away like most other metals do. Some day we will abandon it as any kind of monetary specie, jewelry, etc, and utilize it for its most important aspects.
How much of gold production is used by industry? Don't bother trying to tell me, I already know -70% of gold is used to make jewelery, 20% is used for investment purposes (bars, coins etc..) and 10% is for industrial applications.
if your figures are accurate, that still makes it more than a pretty shiny yellow metal.