The Crude Life Content Correspondent and 8-year-old MultiMedia Kidtrepreneur Otis toured Treasure Island, a precious metals, rare coins and commodities investment center, and discussed how gold and silver work in today’s marketplace.
Otis asked if they sold Pokemon cards, “because Pokemon cards are worth a lot of money”, which Chris explained how they used to, but had to make an inventory choice with some trendier investments like Pokemon, comic books and sports cards or focus more on the traditional gold, silver, stamps and coins.
Gold and silver have served as mediums of exchange, stores of value, and symbols of wealth for thousands of years. Ancient civilizations such as the Egyptians, Greeks, and Romans extensively used these precious metals.
By around 1500 BC, Egyptians were minting gold-bearing shekels. The Romans revolutionized mining and used the metals to mint coins that supported their vast empire
Throughout history, gold and silver were valued for their intrinsic qualities—scarcity, durability, and divisibility—making them ideal for trade. Governments often set the gold-silver ratio to maintain monetary stability, though today, this ratio fluctuates based on market forces.
In the modern era, gold and silver are primarily used as investment assets, hedges against inflation, and in industrial applications like electronics and medical equipment. Both remain significant in the financial world, with investors turning to bullion during economic uncertainty.
The history of oil and gas in the marketplace traces back to ancient times when natural seepages of oil were used for waterproofing and medicine. The modern oil industry began in the mid-19th century with Edwin Drake's drilling of the first commercial oil well in Pennsylvania in 1859. This marked the start of petroleum as a key energy source, replacing whale oil for lamps and later powering the industrial revolution.
The 20th century saw oil and gas become the backbone of global economic growth. The rise of the automobile industry, powered by gasoline, and advances in petrochemicals further solidified its importance. During this time, major companies like Standard Oil, Shell, and BP dominated the market. The establishment of OPEC in 1960 shifted power dynamics, allowing oil-producing countries to influence global prices.
Today, oil and gas remain critical to energy markets, but the industry faces challenges due to climate change concerns and the shift toward renewable energy. Innovations like fracking have revolutionized production, particularly in the U.S., making it a leading producer. Despite this, global policies increasingly focus on reducing fossil fuel dependency through green energy initiatives and carbon reduction strategies.
Otis, the MultiMedia Kidtrepreneur behind Kids and Capitalism, is a young entrepreneur inspiring others through his work with The Crude Life platform. He promotes financial literacy and entrepreneurship, demonstrating how foundational economic principles can be communicated to young audiences in engaging ways. His initiatives aim to demystify complex ideas like capitalism, energy management, and business ownership, empowering kids to think critically and innovatively about the world around them.
Otis’s work underscores the importance of STEM education in fostering essential problem-solving skills and creativity. By integrating science, technology, engineering, and mathematics into his projects, Otis connects these disciplines to real-world applications like energy production and sustainable business practices. This focus helps kids understand the role of energy in everyday life and the importance of technological advancements in shaping the future.
Moreover, Otis effectively connects with mass audiences by leveraging multimedia storytelling. Through videos, podcasts, and interactive discussions, he simplifies complex concepts, making them accessible and relatable. His ability to merge educational content with entertainment ensures his message resonates with diverse demographics, cultivating a deeper understanding of capitalism and energy among younger generations.
(Interview and feature from 2016)
Everyday your story is being told by someone. Who is telling your story? Who are you telling your story to?
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