History of Gold (continued)

During the 1920s, colloidal gold, that is gold suspended in a solution, was used with considerable success as a treatment for rheumatoid arthritis.

In 1933, with the world in the depths of the Great Depression, President Franklin Roosevelt, in order to halt the bank panic, prohibited private holdings of all gold coins, bullion, and certificates. The next year, The God Reserve Act halted the minting of gold coins and gave the government permanent title to all monetary gold. This law would remain in effect for the next 40 years until rescinded on December 31, 1974.

Beginning in 1935 with Western Electric Alloy #1, gold (with silver and platinum) was put to use as an electrical conductor.

In 1935, the Fort Knox Gold Bullion Depository was established in Kentucky.

In 1947, gold contacts were used in the first transistor at AT &T Bell Laboratories. In 1960, they would develop the laser, using gold-coated mirrors.

In 1965, during the Gemini IV mission, Colonel Edward White, USAF made a space walk. Part of his equipment was a gold-coated visor as protection from direct sunlight.

In 1968, Intel developed a microchip whose transistors were connected with gold circuits.

In 1982, new gold deposits were discovered in North America and Australia.

The World Gold Council was founded in 1987 to establish, develop, and sustain the demand for end uses of gold.

Conclusion: Gold Production: Producer Nations

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