Investigation into Gold Informal Investigation

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My name is Asher and lets begin
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Today we are opening an informal investigation into Gold
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At the time this podcast is being recorded it is 2020 and the VID is upon us. That is the COVID19 pandemic. Gold prices have soared to around $2000 an ounce. This should not be a surprise. It is during times of crisis that gold prices rise. People still turn to gold when uncertain about their nation's currency. In my mind, the price of gold going up is a harbinger of badness.
Gold is element number 79, labeled Au, in group 11, period 6 on the periodic table.
Aside for being shiny and having some industrial uses gold gets its value from being currency
In order to understand how the element with the atomic number 79 gained its relative significance, we need to first understand currency.
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The journey started when I picked up the book https://www.amazon.com/dp/B07BPM3GZQ/ref=as_sl_pc_as_ss_li_til?tag=iipodcast-20andlinkCode=w00andlinkId=b9c911fa66444f57280fc216009347a7andcreativeASIN=B07BPM3GZQ (“The bitcoin standard” by Saifedean Ammous) - Apologies for butchering his name. At the time, I was interested in bitcoin - but that is going to be a discussion for another time. He starts his book explaining primitive moneys and monetary metals. The first couple chapters completely changed the way I look at money.
The purpose of money is “to move economic value over time and space”
The most primitive way this is done is with barter or the direct exchange of goods. You want a loaf of bread and I want a dozen eggs so let's trade - easy rite?
This works great but only on a small scale.
However in a larger economy people start to specialize. They become more efficient at making specific products. Because of this specialization many more products come to market. This is good but also creates some obvious trade problems:
coincidence of wants - I want what you got but you don’t want what I got - You want a case of my pumpkin beer for your party tonight. However, you make cars and I already have one. What do we do now? How do you pay me for the beer so your party isn’t a total bust?
Coincidence of scales - What this means is lets say I do want that car you make and you want a case of beer that I make. Are you going to trade me 1/1000 of a car for my case of beer? Or do I need to give you 1000 cases of beer for a car. Not very practical.
Coincidence of time - Let's say we agreed on 1000 cases of beer for one car. However I need the car now and your ragger isn't scheduled till next year.
Coincidence of location - How are we supposed to exchange your car for my 1000 cases of beer if you make your cars in china
If your curious about all these pumpkin beer references, make sure to listen to our previous episode where we investigate pumpkin beer.
The solution to these issues is to have a medium of exchange
A middle man so to say, an item that can hold value that you can give me for the case of beer that I can use whenever I want to acquire whatever I want - AKA money
What qualifications does this money need to have?
Conveniently divided into smaller portions, easy to transport, and holds onto its value over time(restraint on...