Tuesday, April 1, 2014

Chapter 13 DS summary

At different points in time different elements have been used to both prevent the creation of counterfeit money as well as aid in creating the fake money itself. In an ancient legend King Midas was said to be able to turn anything into gold just by touching it. It is known understood that his kingdom had a lot of zinc and when zinc mixes with a normally bronze alloy it creates brass, which has a more golden color and would have appealed to humans' ever-insatiable desire for gold. 3 Irishman accidentally stumbled on a massive deposit of gold which caused a gold rush, although it turns out it was fool's gold. When tellurium combines with gold, it doesn't combine in whole number ratios and it creates calaverite (one of many products) which smells strongly of garlic. Because of everyone hoping to strike it rich supplies ran short and riots erupted although someone then discovered that they could actually melt the gold out of these rocks at low temperatures and the miners practically tore the town apart. Although both of these were honest mistakes, in the era of coin money, counterfeiters had an easier time than they do today by just alloying other coins. Now, though, the EU uses special ink that is treated with europium actually functions as a fluorescing dye that can only be seen under a special laser. Although elements have also held enormous value at certain points. Aluminum at one point was thought to be the most valuable element in the world until it was discovered how easy it was to refine and Hall, after founding the Aluminum Company of America successfully brought the price of aluminium down from $550 per pound to $18 per pound almost single handedly.

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