October 15, 2009

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Different Myths About Gold

Humans have always been interested in complicating matters. They do not want sorted out stuff and would go for a mysterious or difficult task because of their curious nature. They also intertwine myths with materials that are precious or are not easily available. Take, for example, the myth surrounding gold, and jewellery items made from gold. Gold was discovered more than five thousand years ago, though from only a few locations in the world and only in very small quantities. This scarcity of gold, coupled with its value, resulted in its use in ornamentation and jewellery.

People believed that gold possesses heavenly powers and make the possessor lucky. They started to relate gold with magical and mythical believes. People used to think that gold possesses healing powers that can cure diseases and its possessor lives longer than an average person lives. Because of its scarcity, it was considered as a jewel of kings and queens in old Romans and Greek periods. These nations were so fond of wearing gold that they were ready to pay anything in order to get a small piece of gold.

Its example is the story of a well- known king Midas. He was entirely obsessive in the love of gold. At last, he converted his own son into gold. Midas was willing to convert everything, including human beings, into gold. Unluckily, he got hold of magical powers that let him convert everything in to gold that touched his hand.

After he had converted his own son into gold, he realised what has he done and then he bent down and asked for forgiveness. Gold eventually forgave Midas and took away his magical powers. Babylonian, Egyptian and Roman emperors were also greedy of gold but not like Midas.

For long periods, Muslim scientists made efforts to invent a chemical that can convert an ordinary piece of metal into gold. They were not successful in finding any scientific or mechanical process of doing that. However, they invented a large number of acids and bases during this process. They named this branch of science as ‘Alchemy’, which was later on converted to ‘Chemistry’.

Studies reveal that some people have been totally ruined in lust for gold. They are ready to leave anything, forget everything and nothing in this world admire them, but gold. Some experts blame gold to be the cause of every evil in this world. They say people must try to make their life better by building strong relations amongst humanity. Collecting gold and precious stones can give someone nothing and this lust for gold is endless.

The importance of gold and its significance in human history prompted economists to start equating currency with gold value. Each country was allowed to have a specific amount of gold and it could only mint new currency, as per the value of that gold.

Any excess minting could result in inflation. That formula is still applicable today though many countries now do not adhere to the original principle of equating gold with currency. That is the reason behind the huge inflation rates of modern era.

Jack Wagon is an investment expert and has written various books on this topic. To get more information about how to buy gold visit his recommended site http://www.goldmadesimple.com/




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