00:00 The podcast episode titled "SYSK Selects: How Gold Works" discusses the historical significance and cultural perception of gold, including the Egyptians and Aztecs' belief that it was divine and precious.

05:23 Gold has been mined in Africa for a long time, and the shorthand for gold on the periodic table is AU, which comes from the Latin word "orum" meaning shining dawn; all the gold ever mined is only 161,000 tons, and 85% of it is still around.

10:08 The Greeks and Romans were the first to mint gold coins, while the Peruvians were skilled at hammering gold into sheets and creating gold leaf; Europeans, inspired by Marco Polo, set sail in search of gold, with Christopher Columbus being influenced by Marco Polo's writings about palaces of silver and gold, leading to the search for El Dorado.

14:45 In Brazil in 1700, the Minas Gerais region became the largest gold producer in the world, using slave labor to pan for gold.

19:26 Gold rushes occurred in the US, Australia, and South Africa in the 1850s and 1860s, with South Africa currently being the leading gold producer followed by the United States, specifically Nevada.

24:04 Gold is extracted from load deposits by blowing up the rock and hauling the ore out, while placer deposits are panned for loose gold in streams or beaches, and the extraction process involves crushing the ore into gravel, turning it into a powder, adding water and cyanide to extract the gold, filtering out the carbon, and finally using electro-winning to separate the gold from the solution.

28:27 During the refining stage, pure gold is often combined with other metals to form alloys.

33:02 Different countries have different preferences for the caratage of gold, with the United States favoring 14 carat gold, India favoring 22 carat gold, and Europe favoring 18 carat gold. Gold is also used in electronics due to its conductivity and resistance to corrosion, and NASA used over 40 kilograms of gold in the construction of the Spatial Columbia. Gold is also used for crowns because it is chemically inert and does not affect the taste of food.

37:48 Gold mining is not great for the environment, as it requires extracting 250 tons of rock and ore to obtain just one ounce of gold, and the process often involves the use of cyanide, which is then dumped into the ocean, leading to environmental concerns.

42:59 The gold standard was a system where every dollar amount had to be backed by a certain amount of gold in reserve, but it was abandoned in 1971 when more money was printed than there was gold, leading to a fiat currency.

47:41 The episode ends with some closing remarks and information about how to contact the podcast.