Why Gold? Why Not Argon?
How gold was picked from all the elements to back global currencies.
iStock photo via Thinkstock
Gold has historically been the backbone of currencies around the world.* But why exactly is that? There are 118 chemical elements in the periodic table that might have been chosen, but gold got the nod.
David Kestenbaum and Jacob Goldstein from NPR’s Planet Money explain the rationale for settling on gold in the video below, the latest in a series about economic issues produced in collaboration with Slate’s video team.