Re: Stupid question about vintage braided lead wires...
They are two conductor, however, they are both built into the same "unit." The outside tube of bare braided wire is usually used as the ground wire.
It's sometimes cool as a space saver, but it also sometimes doesn't give you enough movement to rout the wires in the most convenient way.
Note: You need to push back the black cloth insulation from the center wire, and you need to push back the braided wire from the black insulation. If you don't do that second step, the ground wire and hot wire run the risk of connecting, which will give you a dead pickup.
