Virtual Gold?
tneig
Posts: 1,505 ✭✭✭
Forget about the gold standard. Forget about one small ebay deception. The world is a virtual fiat system, gold or not.
From what I've been learning lately about the validity of Central Bank and other gold respositories, there will never be an accurate accountible base of gold to build a gold standard upon. Its more likely now in my mind that the only gold anybody or any nation has is what they hold themselves. Even, then considering the systems, the people, the greed and corruption, no national repository would ever seem safe to me.
Just one story of many..... (linky)
Another previous Coinflation listed article describes how even Gold is a virtual system based on the credibility of the repository system, rather than it being actually accountible gold. It gets leased, used, and moved around. It describes how its a virtual game that everyone is playing and its expected that no one takes out all their gold or the system could collapse, and thats the game with gold as well. Shocking to me and make feel like the entire worlds monetary system is inherently Fiat, and build on virtual foundations.
From what I've been learning lately about the validity of Central Bank and other gold respositories, there will never be an accurate accountible base of gold to build a gold standard upon. Its more likely now in my mind that the only gold anybody or any nation has is what they hold themselves. Even, then considering the systems, the people, the greed and corruption, no national repository would ever seem safe to me.
Just one story of many..... (linky)
Another previous Coinflation listed article describes how even Gold is a virtual system based on the credibility of the repository system, rather than it being actually accountible gold. It gets leased, used, and moved around. It describes how its a virtual game that everyone is playing and its expected that no one takes out all their gold or the system could collapse, and thats the game with gold as well. Shocking to me and make feel like the entire worlds monetary system is inherently Fiat, and build on virtual foundations.
COA
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It is and has been since 1933. At least the US has, which alternatively is a global standard.
With a simple keystroke things change dramtically nowadays.
Edited to add: If you don't have the gold in your hands, you don't own squat. All you own is virtual currency or a piece of toilet tissue.
Too many positive BST transactions with too many members to list.
<< <i> All you own is virtual currency or a piece of toilet tissue. >>
But that piece of toilet paper will buy you a roll or put food on the table
<< <i>Forget about the gold standard. Forget about one small ebay deception. The world is a virtual fiat system, gold or not.
From what I've been learning lately about the validity of Central Bank and other gold respositories, there will never be an accurate accountible base of gold to build a gold standard upon. Its more likely now in my mind that the only gold anybody or any nation has is what they hold themselves. Even, then considering the systems, the people, the greed and corruption, no national repository would ever seem safe to me.
Just one story of many..... (linky)
Another previous Coinflation listed article describes how even Gold is a virtual system based on the credibility of the repository system, rather than it being actually accountible gold. It gets leased, used, and moved around. It describes how its a virtual game that everyone is playing and its expected that no one takes out all their gold or the system could collapse, and thats the game with gold as well. Shocking to me and make feel like the entire worlds monetary system is inherently Fiat, and build on virtual foundations. >>
All the more reason why there wont be any gold backed currency.
Knowledge is the enemy of fear
I knew it would happen.