Score
Title
23
How To Search ELI5: A Quick Reminder About Rule 7
1375
ELI5 Why does water turn white when going over a waterfall? My 8 year old asked me and I was at a loss to explain.
440
ELI5: how did women shaving their legs/armpits come about and why did men not do it too?
8399
ELI5: Why does a familiar word sound unfamiliar after you overly repeat it?
1205
ELI5: There's 21% oxygen in air. When we breathe out, there's still 16% oxygen in the exhaled air. Why's our lung so inefficient?
108
ELI5: How close to 50/50 are genes from our parents? Is it possible to have more genes from one parent than the other?
177
ELI5 why is there so much activity with the Ring of Fire recently? How do we know which earthquakes are directly linked? Should California be as worried as the media makes out?
13
ELI5: Why does having "good lawyers" get people off with lesser punishments even if they're obviously guilty?
5
ELI5: Why is older wine considered "better"?
90
ELI5: Why might it be so hard for me to fall asleep again after waking up, but once my alarm goes off and I'm supposed to wake up, I suddenly can't stop hitting snooze and going back to sleep?
13
ELI5 How do civil engineers determine if a building is structurally sound after an earthquake?
18
ELI5: Why do we feel tense in our shoulders when we are stressed?
8
ELI5: Why didn't the US experience hyperinflation that many economists and politicians said was going to happen when the FED did its quantitative easing during the Great Recession?
182
ELI5 If symptoms of a cold serve the function of ridding our body of the illness, then do cold medicines that reduce these symptoms slow our recovery?
3
ElI5: How does anesthesia make us unconscious but doesn't harm or shut off unconscious functions?
3
ELI5; why is it that people snore when they are asleep, but don't have the same breathing pattern when awake?
4
ELI5: How can a cable possibly be stretched across the entire Atlantic Ocean?
7692
ELI5 why is it that we always see so many new awesome ways to fight cancer and yet it seems nothing of it is ever being used?
5
ELI5:Banned weapons in war
2721
ELI5: Why is CTE brain damage such a hot topic in the NFL, but don't hear anything from the Rugby community?
4
ELI5 Why do so many conservative groups use the word "Patriot" in their name?
2
ELI5: Why does the ESRB have a "Real Gambling" descriptor if online real-money gambling is illegal in the USA?
2
ELI5 why we tend to raise our voice when we're mad
3
ELI5 How do certain animals have the exact same pattern as a leopard?
4
ELI5: Why do indian people and other asian people have different skin tones despite being so close geographically?
4
ELI5: Why can my body handle heat or cold somedays better than others?
3
ELI5:Why is there such a huge disparity in airline prices (example in text)?
6
ELI5:Why must the Pythagorean Theorem contain squared values? Is there a relationship between sides prior to squaring them?
5
ELI5: Would inflation still happen if the population didn’t increase?
17
ELI5: Why are there still a few operating Blockbusters, and where does the money that they make go?
3
ELI5 - I'm driving on a Rosario with my 5 year old and she asks me how power lines carry electricity
0
ELI5 why can't we smell anything wen having a cold?
93
ELI5: That feeling you get when you’re traveling in a car and you go over a small but quick hill and your stomach has that weird sensation in it right as you reach the top and are hearing back down.
11
ELI5: What exactly is happening when one has water trapped in their ear?
3
ELIF: Why do people in black and white movies and tv shows sound the same?
2
ELI5: How does someone end up in extended domestic captivity and remain there?
1
ELI5: Why aren't service animals regulated by any sort of governing entity?
5
ELI5: Why didn't the confederates ever march on Washington D.C.?
8
ELI5:Why do some books have "This page has been intentionally left blank" page?
2
ELI5: why does a combination of weird scents, audio, and visual stimulation make me feel nauseous?
0
ELI5: How are satellites able to show such high definition photos from outer space
6 MakeUSAGreatAgain It doesn't back currency anymore. And it's valuable bc it is a rare earth metal. It has unique physical and elementary properties.
3 unaskedforopinion Keep in mind currency is only as valuable as the confidence behind it, so backing currency with gold says "hey, if you want to, you can turn this in for gold, so believe me, you can trust it." How did gold become the standard: 1) It's rare, not easy to acquire. Figures of over 70 tons or raw ore to process resulting in one ounce are not unheard of, and less than 5 tons to gain an ounce is considered very rich ore. 2) People agree that it is attractive. 3) It is VERY useful for plating, designing, decorating, you can flatten gold so thin that a one inch square of it can easily float in the air and take a long time to land. Which means you can convert it into jewelry, gold plated items, which people find attractive and they want it. 4) It has many uses in manufacturing. Edit: 5) it's very compact, dense, easy to transport and hold.
2 ForSturgis Peter Schiff would disagree, but arguably gold has little intrinsic value. If gold was supplied in a purely utilitarian way, there'd be a surplus for practical purposes. Historically, gold was a useful universal currency due to its presence on all continents, and due to its scarcity and beauty was almost globally recognized as a commodity. Currencies are "backed" against recognizable commodities like gold to add strength to them. If you're the United States in the 1870's and are rebuilding two different economies, trade will be impacted by investors acceptance of your currency. A good way to settle the issue is to simply promise gold in exchange for the dollar. Owning US currency is now as good as gold. Nowadays, the gold standard isn't in use. It impedes economic development. Gold, however, is still bought in times of uncertainty by investors looking for the safest way to store their capital. TL;DR: For historical reasons people gave gold value. For arbitrary reasons, the world accepts gold is the most intrinsically valuable commodity or currency.
1 edman007 Gold has always been a useful metal, it doesn't corrode, it's soft, and it looks nice. There has always been demand for it because of that. It use to be used to back money because there was significant demand (giving it value), and it was sufficiently difficult to obtain its price remained high. In effect, the first anti-foraging measure was simply to pick something difficult to obtain, so gold coins couldn't be forged (it would require mining and refining gold, a process so difficult that you wasted enough time to to equal the value of gold you go). It's not like modern coins that cost just a few cents to make and have a face value far higher. That kind of anti-forgery effect is really what drove gold to be the standard for money. Now we have floating currencies. It's backed by the goverment (they simply say if you have the cash I'll pay), and it's value is controlled by adjusting how banks (especially the central bank) deal with loans (specifically, when you deposit money into a bank, the bank can loan it to someone else while keeping it in your account, this creates money since you both have the money). Governments also issue bonds which can have some effect as well (they take money from the people and spend it, and pay them back with interest later)
1 Deuce232 Your submission has been removed for the following reason(s): --- Your question is based on a false premise, no one backs their currency in gold --- *Please refer to our [detailed rules](http://www.reddit.com/r/explainlikeimfive/about/rules)*.
1 cdb03b No country in the world uses gold to back their currencies anymore. All world currencies are fiat currencies currently meaning they are only backed by governmental power.
5 0 MakeUSAGreatAgain It doesn't back currency anymore. And it's valuable bc it is a rare earth metal. It has unique physical and elementary properties.
3 0 unaskedforopinion Keep in mind currency is only as valuable as the confidence behind it, so backing currency with gold says "hey, if you want to, you can turn this in for gold, so believe me, you can trust it." How did gold become the standard: 1) It's rare, not easy to acquire. Figures of over 70 tons or raw ore to process resulting in one ounce are not unheard of, and less than 5 tons to gain an ounce is considered very rich ore. 2) People agree that it is attractive. 3) It is VERY useful for plating, designing, decorating, you can flatten gold so thin that a one inch square of it can easily float in the air and take a long time to land. Which means you can convert it into jewelry, gold plated items, which people find attractive and they want it. 4) It has many uses in manufacturing. Edit: 5) it's very compact, dense, easy to transport and hold.
2 0 ForSturgis Peter Schiff would disagree, but arguably gold has little intrinsic value. If gold was supplied in a purely utilitarian way, there'd be a surplus for practical purposes. Historically, gold was a useful universal currency due to its presence on all continents, and due to its scarcity and beauty was almost globally recognized as a commodity. Currencies are "backed" against recognizable commodities like gold to add strength to them. If you're the United States in the 1870's and are rebuilding two different economies, trade will be impacted by investors acceptance of your currency. A good way to settle the issue is to simply promise gold in exchange for the dollar. Owning US currency is now as good as gold. Nowadays, the gold standard isn't in use. It impedes economic development. Gold, however, is still bought in times of uncertainty by investors looking for the safest way to store their capital. TL;DR: For historical reasons people gave gold value. For arbitrary reasons, the world accepts gold is the most intrinsically valuable commodity or currency.
1 0 edman007 Gold has always been a useful metal, it doesn't corrode, it's soft, and it looks nice. There has always been demand for it because of that. It use to be used to back money because there was significant demand (giving it value), and it was sufficiently difficult to obtain its price remained high. In effect, the first anti-foraging measure was simply to pick something difficult to obtain, so gold coins couldn't be forged (it would require mining and refining gold, a process so difficult that you wasted enough time to to equal the value of gold you go). It's not like modern coins that cost just a few cents to make and have a face value far higher. That kind of anti-forgery effect is really what drove gold to be the standard for money. Now we have floating currencies. It's backed by the goverment (they simply say if you have the cash I'll pay), and it's value is controlled by adjusting how banks (especially the central bank) deal with loans (specifically, when you deposit money into a bank, the bank can loan it to someone else while keeping it in your account, this creates money since you both have the money). Governments also issue bonds which can have some effect as well (they take money from the people and spend it, and pay them back with interest later)
1 0 Deuce232 Your submission has been removed for the following reason(s): --- Your question is based on a false premise, no one backs their currency in gold --- *Please refer to our [detailed rules](http://www.reddit.com/r/explainlikeimfive/about/rules)*.
1 0 cdb03b No country in the world uses gold to back their currencies anymore. All world currencies are fiat currencies currently meaning they are only backed by governmental power.