Gibbs is amazing stuff.  I've used it on bare steel that would normally rust overnight and months later the metal still looks new.

 

When I was a kid, I remember my Dad keeping the wrappers off the blocks of butter and wrapping them around his wood saws and other tools. I often wondered why all the local cats hung around our garden shed  .

I use Boeshield T-9 on my boat, develop by Boeing, never let me down.

Great story !
Yes, one could spend a big wad of cash on all sorts of fancy lubricants, but the bottom line is that anything with oil or wax in it will keep oxygen and moisture  from getting to the metal. 
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