If you are to believe Robert Allen Bartlett, in his book The Way of the Crucible, you would have to grasp a wider context of Alchemy. There is Plant, Mineral and Metallic Alchemy at the very least, and whereas Spagyrics http://en.wikipedia.org/wiki/Spagyric speaks to the making of Decoctions, Tinctures, Elixirs and Stones (including Elixirs of Life), Metallic Alchemy speaks to the Stone of Projection, the Red Powder, the literal substance that when added to metallic Mercury, can allegedly transmute Mercury into metallic Gold.
There is Psychological Alchemy, and on a higher 'octave,' Spiritual Alchemy, both of which constitute Human Alchemy in the transmutation of the Psyche and Pneuma of the tripartite human being. Mineral Alchemy, some of which can be found in the practices of Ayurvedic medicine in India, which uses precious stones and specially detoxified metals for health and longevity purposes.
So, to try and answer you question, I would have to say that one would have to specify to which level of reality you are referring. I have begun the practice of Spagyric Alchemy after a couple of decades of Psychological and Spiritual Alchemy which I developed through years of Jungian analysis. I am now doing laboratory work. I hope to complete a series of Elixirs that correspond both to the 7 main astrological planets, as well as to the 7 chakras. I will then consider Mineral Alchemy, say, Oil of Rose Quartz.
But, you see, a 'puffer' is not an Alchemist. Puffers are the unredeemed, secular, 'base' human beings, living exclusively in the lower chakra fields, and as such, are identified with the physical body primarily, along with its desires. Such people want to make Gold metal to sate their base desires; exceeding survival needs to greed, exceeding sexual partnership for unbridled lust, exceeding a modest income for financial power. According to the principles involved with Alchemy, transmutations in the metallic domain are only going to happen when one's inner life is in correspondence to the the outer life. Thus, the 1st chakra is Lead, the 2nd chakra is Tin, the 3rd chakra is Iron: Saturn>Jupiter>Mars. The higher centers sometimes have slightly different orders, but Venus, Mercury, Moon and Sun correspond to Copper, Mercury, Silver and Gold respectively.
"The stone which the builders refused is become the head stone of the corner." -Psalm 118:22
This Psalm is quoted in Acts 4:11 to refer to Christ as 'the stone.' Similarly, in Tibetan Buddhism is the Diamond Body - the Jewel in the Lotus of the Heart - the immutable, eternal Reality. So in Spiritual Alchemy, the Stone is figurative, as in Hermetic philosophy wherein the Stone is a Conjunction of opposite principles: Fire and Water, symbolized by the interlacing triangles into a Hexagram. Or again, Earth, Water, Fire, Air and Aether into the Quintessential 5th Element, symbolized by the Pentagram.
The "One Thing" of The Emerald Tablet manifests on different levels of manifestation, which is why Alchemy utilizes (in the West) the Qabalistic Tree of Life as a map, in combination with astrological, mineral, metallic and plant correspondences. It is all based on Synchronicity (or, sympathetic magick if you prefer), rather than cause-effect linearity, and thus Alchemy is decidedly not a primitive or precursive to chemistry, although chemical procedures are utilized.
Contemporary rendering of Latin text of THE EMERALD TABLET
[It is] true, without error, certain and most true, That which is below is as that which is above, and that which is above is as that which is below, to perform the miracles of the one thing. And as all things were from the one, by means of the meditation of the one, thus all things were born from the one, by means of adaptation. Its father is the Sun, its mother is the Moon, the Wind carried it in its belly, its nurse is the earth. The father of the whole world [or "of all of the initiates"?] is here. Its power is whole if it has been turned into earth. You will separate the earth from the fire, the subtle from the dense, sweetly, with great skill. It ascends from earth into heaven and again it descends to the earth, and receives the power of higher and of lower things. Thus you will have the Glory of the whole world. Therefore will all obscurity flee from you. Of all strength this is true strength, because it will conquer all that is subtle, and penetrate all that is solid. Thus was the world created. From this were wonderful adaptations, of which this is the means. Therefore am I named Thrice-Great Hermes, having the three parts of the philosophy of the whole world. It is finished, what I have said about the working[s] of the Sun.
Much elaboration would be needed to tease the Tabula Smaragdina (Emerald Tablet) apart.
-------------------- γνῶθι σαὐτόν - Gnothi Seauton - Know Thyself
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