Users Online Now:
New! GLP MERCHANDISE STORE
Back to Forum
Back to Thread
REPLY TO THREAD
Goldtard/Cryptotards we Ride
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 30194358:MV8zNzQ1ODM1XzY3MDY1MTg5XzdFNDQwQUM3] [quote:Anonymous Coward 74514248:MV8zNzQ1ODM1XzY3MDY1MDQyXzQ0RTFGNjc0] The US Dollar was once backed by Gold, we know how that turned out. What makes you think a crypto backed by Gold would be any different? Wouldn't trust it long term. If you want gold... just buy gold... [/quote] The problem is fixing some paper currency value to an ounce of gold or silver and or equating a fixed amount of silver to gold. That requires a 'middleman', i.e. banks and tax authorities. That overhead then drags the economy down. Real bills do not need banking middleman, and now with the internet and encrypted databases they are entirely possible. So you'll see state and or government mints making crypto coins fungible with physical in repository, with accounts completely transparent unlike the central banking system where their accounting is opaque. It's the solution to the world's unpayable mountain of debt. States or governments will just issue minted coins from the repository upon demand with the face of coin saying 1 ounce 0.999 fine, that's it instead of saying $50. Also, repositories need to offer interest on gold or silver deposited, like 2% interest then people who have hoarded gold or silver will deposit their metal in the repositories, that is key to keep the system growing and operational. Commercial economic activity then occurs via electronic real bills, that offers a system of 'credit' and allows the economy to grow. The past 400 years of 'economic science' will be relegated to the trashcan where it deserves to go. [/quote]
Check this out, I must admit I am a silvertard. I hold no crypto nor gold anymore.
Someone smarter then me can anaylize this, just thought I would bring it our publics attention.
link to www.sgtreport.com (secure)
Eric Sprott and Rick Rule are very smart gentlemen.
SO...carry on and analyze.
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
Disclaimer / Copyright Info
Cancellation Policy / Billing Help
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd. Godlike™
Website Design Copyright © 1999 - 2020 Godlikeproductions.com
Page generated in 0.031s (6 queries)