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Bitcoin worth more than gold ounce
Prices in US dollars.
http://www.coindesk.com/bitcoin-price-sets-new-all-time-high-second-day/
Unlike the 2013-2014 price spike this trend seem to long term growth.
Gold Standard discussed in Swiss Parlaiment
Swiss German with English subtitles.
“Save our Swiss gold”
This is what the initiative wants:
1. No further Gold sales by the SNB!
2. All our gold stored in Switzerland!
3. Physical Gold share minimum 20% of SNB Reserves!
Note its worth pointing out the Swiss never joined the European Union or adopted the Euro as its currency, despite being surrounded with European union countries. Ironically Switzerland hoards vast quantities of gold in bank vaults for the worlds elite but the common man on the surface still deals in worthless unbacked paper fiat called Swiss francs (CF). Bankers in Switzerland are called the Gnomes of Zurich for a reason.
Aurum: filling the gap between polymer notes and gold
Aurum: a thin layer of pure gold between printed polymer plastic layers.
This is an interesting idea. Actually trading in gold in a familiar pocketable, foldable format.
Pros:
It is actual gold, not a purported/flimsy claim to a thing.
Can be melted back down to pure gold.
Denomination are small about 1 -2 dollars AUD.
Fills the gap between ounce bars making gold more divisible.
A familiar format for people; a note of value.
Customizable note images.
protected from central bank manipulation largely.
Cons:
Could be forged with a gold appearing foil.
Gold cannot be tested with out destroying the note.
One denominations 1/20 of a gram meaning you would need approx 622 to make an ounce.
Gold is normally measured in troy ounces making the maths weird: i.e 622 to the ounce, a quarter of an ounce is 155.5 Aurum notes.
For small gold units people can and have used links in gold necklaces, more easily testable.
Unknowns:
How much premium is there on this gold format over ounce bars? 300%, very steep margin!
will there be other denominations such as 1/40th gram or 1/10 gram, will denominations be in fractions of ounces to match the standard troy ounce system.
Ideas/ suggestions:
A system of 1/500th of an ounce ( and 1/1000th) would have made more sense, like the metric system or not, gold has been in troy ounces for a long time. No problem adding the metric equivalent along side this number, but still the unit should be based on troy ounces (1 troy ounce being 31.1 grams).
More security features, holograms, weird difficult to copy patterns etc. A way to optically (non destructively) verify that is really is gold and not a polymer illusion.
Accept Bitcoins for these, it think the trade would be brisk as a lot of Bitcoin investors we those a little late for the gold bug and may now wish to diversify.
Has any one considered silver coins with a small individual, removable plastic container, similar idea to this.
more info:
http://www.peakprosperity.com/podcast/84359/new-way-hold-gold
The seven stages of empire
A good explanation of how monetary systems evolve starting out fair with real money and then slowly debased and corrupted to pay for expansionary wars, public works largesse and some pure waste.
Finally the currency is abandoned often with the empire that minted it, and the cycle starts again.
which stage of they cycle are we at, make up your own mind.
?Gold Gone? Germany baffled as Fed bars access to bullion!
Oh oh! Where’s the money [gold] gone?
This post leads to a great series of comments, check it out.
The world is losing trust in the dollar as a safe haven. A major blow came after Germany’s Bundesbank demanded the repatriation of a big chunk of its gold being held in the US. Because as RT’s Gayane Chichakyan reports, some are concerned the assets of foreign nations in the Federal Reserve are not secure or even there. The Germans were infuriated when the US Federal reserve didn’t even let them examine their own assets properly. Peter Boehringer, the founder and chairman of ‘German Precious Metal Association’, says that’s a bad sign. Source:  24HGold¨By Charleston Voice – Knology |
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