Static wicks are used to disipate the "static" electrical charge that builds up on the surface of the skin of an aircraft as it moves through the air. The faster the aircraft, the more likely the probability that a static charge can be generated. Different atmospheric conditions can accelerate the accumilation of the static charge, such as temperature, humidity, dust, clouds, rain, etc.
Spinning turboprop and helicopter blades are excelent generators of a static charge even when sitting on the ground...
The instalation of static wicks helps to encourage the disapation of the static charge buildup before it reaches very high levels i.e. thousands of volts. If the static charge is allowed to build up, it will eventually discharge...at a time and place of its own choosing...into the surrounding air. Although the discharge may not be visually seen, it does occur and has the same properties as its big brother, the lightning bolt. The only difference is the power density. The generated EM field is extremily large for the lightning bolt and small for the static wick discharge. I would expect some of my electronic nav aids to hickup with nearby lightning bolts, but not when I only have aircraft generated static charges being disipated through the static wicks.
So, without the static wicks installed, and a large static charge being built up, the discharge is going to happen. The wings and fuselage are the biggest static generators, and the charge is happy to stay right there on the surfaces. But then the A/C has control surfaces, and they have somewhat sharp trailing surfaces (relative). The static charge tends to be concentrated around these sharp surfaces and when the voltage exceeds the breakdown voltage of air (or whatever we happen to be flying through at the time), a static discharge will occur. If static wicks are present, the static discharge occurs at a much lower voltage level. No wicks...a higher level.
The discharge path from (say) a wing to an aileron would be through whatever bearing / hinge material connects the two. This hinge may not be a perfect conductor, so it is possible that the charge will generate a small static spark in the hinge material and cause a small microscopic pit. Do this thousands of times and you may end up with a bad /binding bearing.
So, how do you provide a low impediance path between the wing and the aileron? Answer: We provide a bond wire between the two. This provides a desireable discharge path to the static charge that does not pass through the aileron hinge.
The bond wire is usually a braded wire, but it does not have to be. It does not need to be insulated. The use of a braded wire allows for flexability, plus the many, many strands of individual wires provides a large surface area (skin) to take advantage of the skin effect related to any high frequency components within the static discharge event.
(skin effect relates to the ability of a conductor to transfer high frequency electrical energy along the conductor. DC current can be thought of as traveling through the entire cross section of the conductor. Low frequency AC signals (60Hz in U.S homes) / currents also travel in the entire cross section of the conductor. As the frequency increases, say 50 to 100 Mhz, then the currents move away from the entire cross section and towards the outer surface of the conductor. The higher the frequency, the more pronounced this becomes. So for a given wire size, the wire can carry more DC current than a high frequency signal of the same power delivery without power loss.) This is why "fat" braded wires are sometimes used as the bonding "wire" of choice. This is also why VOR's use one type of coax, and txponders use another, and GPS's use yet another...depending on how long the coax wire run needs to be.
Hope this helps...