• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Are the banks preparing to use Blockchain technology to get rid of cash?

Scorpio

Hunter of Chin Li's Boo Hoo Flu
Founding Member
Board Elder
Site Mgr
Midas Supporter ++
Joined
Mar 25, 2010
Messages
32,802
Likes
47,888
#1
Are the banks preparing to use Blockchain technology to get rid of cash?
Ken Schortgen, Jr.



It has been a few years since J.P. Morgan's commodity head Blythe Masters was 'let go' from the bank in 2014, only to resurface as the head of a new digital finance company focused on Blockchain technology. And while there have been many startups around the world creating their own blockchain innovations, many of which are centered around Bitcoin and other crypto-currencies, one has to wonder what agenda Blythe Masters intends for the technology in her new company.

The reason this question is important is because a new report came out on May 2 of a secret meeting between 100 financial executives where blockchain technology was used to create a Larry Summers frankenstein...

Purely digital dollars.

“On a recent Monday in April, more than 100 executives from some of the world’s largest financial institutions gathered for a private meeting at the Times Square office of Nasdaq Inc. They weren’t there to just talk about blockchain, the new technology some predict will transform finance, but to build and experiment with the software.

By the end of the day, they had seen something revolutionary: U.S. dollars transformed into pure digital assets, able to be used to execute and settle a trade instantly. That’s the promise of a blockchain, where the cumbersome and error-prone system that takes days to move money across town or around the world is replaced with almost instant certainty. The event was created by Chain, one of many startups trying to rewire the financial industry, with representatives from Nasdaq, Citigroup Inc., Visa Inc., Fidelity, Fiserv Inc., Pfizer Inc. and others in the room.

The event — announced in a statement this Monday — marked a key moment in the evolution of blockchain, notable both for what was achieved, as well as how many firms were involved. The technology’s potential has captivated Wall Street executives because it offers a way to free up billions of dollars by speeding transactions that currently can take days, tying up capital. But a huge piece of that puzzle is transforming cash into a digital form. And while some firms have conducted experiments, the Chain event showed a large number of them are now looking jointly at a potential solution.

“We created a digital dollar” to show the group at Nasdaq an instant debit and credit on a blockchain, said Marc West, chief technology officer at Fiserv, a transaction and payments company with more than 13,000 clients across the financial industry. “This is the first time the money has moved.”” - Bloomberg
Ending physical cash and moving money into a purely digital construct is the maniacal dream of dozens of central banks who have now found themselves forced into policies of negative interest rates. And as basic human nature is proving out in places like Austria and Japan, anytime depositors have the power to remove their money from a banking system, the power of negative interest rates becomes moot without the use of capital controls, and a banning of physical cash.



There are many signs that Western banks are desperate to control all outflows of cash, especially when just this weekend Charles Schwab informed customers they were cutting off money market accounts in favor of storing customer cash in U.S. Treasuries. And in addition, Interactive Brokers on Sunday announced they were imposing negative interest rates on all Yen based accounts they manage.

Lack of liquidity was the real underlying factor in the 2008 financial collapse, and as the world divests themselves from dollar denominated assets in increasing numbers, this same fear is causing governments and central banks to reach for new draconian ways to keep their corrupt systems afloat.

And it appears that banks are now racing against the clock to try to bring online a blockchain based system that will accommodate the end of cash, and force the world into a completely digital currency of their making.



Rogue Money is a economics-based digital magazine and radio show with in-depth news and analysis which stays ahead of the market and global events. Top market strategists and think tank contributors capture tomorrow's headlines here. Read the behind the scenes information from the boardrooms to your screen. Market Warnings, Preserve Wealth, and Plan for the Future. It's all here at Rogue Money, be sure to stay tuned for special events!







www.roguemoney.net

http://www.silverbearcafe.com/private/05.16/blockchain.html
 

Malus

Gold Chaser
Platinum Bling
Joined
Mar 31, 2010
Messages
3,392
Likes
2,797
Location
In a world gone mad....
#2
Force the world? People will do what they need to do to get around this. Regardless, gold will still have a place....
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#3
Why would anyone use a centrally planned and controlled digital currency when there are scores of decentralized ones to choose from?
 

solarion

Midas Member
Midas Member
Sr Site Supporter
Joined
Nov 25, 2013
Messages
6,921
Likes
10,888
#4
Why would anyone use a centrally planned and controlled digital currency when there are scores of decentralized ones to choose from?
I agree, but I regularly see comments from sheeple that see this as a negative. Goes something like "There's nothing backing bitcoin...not even a government." SMH
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#5
I agree, but I regularly see comments from sheeple that see this as a negative. Goes something like "There's nothing backing bitcoin...not even a government." SMH
There is no government backing this silver buffalo round in my hand either. ;)

People will have a hard time with digital currencies until they find a use for them and actually start to use it. Otherwise, it is just too intangible. Unfortunately, you really have to have a desire to investigate how to use it to your advantage - the process isn't automatic.

Same with stacking silver/gold I guess - most will never try to understand why they should do it...
 

oldgaranddad

Platinum Bling
Platinum Bling
Midas Supporter ++
Joined
Feb 21, 2012
Messages
6,087
Likes
12,140
Location
On the top shelf.
#6
If the banks handle digital currency like they do credit card security then this is going to make a lot of criminals rich. Heck! The bad guys won't have to steal it they'll just conjure it up out of the digital nothing with the stolen algorithms.
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#7
QWAK,In GOLD I trust --- take digital currency and stick it ware the sun don't shine!:thumbs up 2:

the DUCK :winks2:
 

Joe King

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
11,328
Likes
13,795
Location
Instant Gratification Land
#8
By the end of the day, they had seen something revolutionary: U.S. dollars transformed into pure digital assets, able to be used to execute and settle a trade instantly.
That is exactly what I've been trying to tell people is necessary for a cashless society. Electronic currency.
...but every time I have, a certain someone keeps telling me how words on paper say they can't do that. Yet here they are working feverishly on just such a system.

Tie it in with biometric ID and it'll be the bankers and bureaucrats ultimate wet dream.


Once this works, you'll then be able to take your digits with you for spending outside the baking network. You just won't have any privacy when doing so, as the currency itself will tell where it's been.
...but the majority won't give two craps about that. After all, they've been well conditioned to the "if you've nothing to hide, you've nothing to fear"....mantra.



Force the world? People will do what they need to do to get around this.
Why would anyone use a centrally planned and controlled digital currency when there are scores of decentralized ones to choose from?
No one will have to be forced and the masses will flock to it, once they see it's necessary in order to purchase their bread and milk and other necessities of life.
 

Rollie Free

Midas Member
Midas Member
Site Supporter
Joined
Mar 31, 2010
Messages
6,109
Likes
7,200
Location
Nebraska
#9
I think you're all just whistling in the dark. Yes, you might be able to hermitize parts of your commerce personally with others of your thinking but 99% of commerce will be forced into whatever digital and highly controlled system they want. The younger generation, perhaps the most informed yet gullible people on earth, will comply. Its in the cards. Compliance with the one world order is what they unknowingly (or maybe they do know) have been bred to do.

I don't look forward to a world where personal sovereignty is repudiated but I am a realist and know it is inevitable.
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#10
QWAK,In GOLD I trust --- take digital currency and stick it ware the sun don't shine!:thumbs up 2:

the DUCK :winks2:

I agree with your gold sentiment, but disagree with the digital currency opinion. They both have their uses, and it is only when you confuse those that you run into trouble.

For example, I can instantly send you any amount of BTC no matter where you are - and do it semi-anonymously and outside of the SWIFT system. That is a very powerful tool. I wouldn't leave my life savings in it however...
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#11
No one will have to be forced and the masses will flock to it, once they see it's necessary in order to purchase their bread and milk and other necessities of life.
How on earth will they manage that? They "force" me to use fiat now, but I can still spend silver rounds at many farmer's markets. "They" are not powerful enough to shut down black or grey markets now, how will introducing electronic currency make that any different?

The younger generation, perhaps the most informed yet gullible people on earth, will comply. Its in the cards. Compliance with the one world order is what they unknowingly (or maybe they do know) have been bred to do.

I don't look forward to a world where personal sovereignty is repudiated but I am a realist and know it is inevitable.
I don't disagree with much of this sentiment, but I disagree with your conclusion. The more tightly controlled that people find themselves, the more "leakage" out of the formal economy and into grey markets there will be.

If you actually believe what you are saying, why bother stacking gold/silver?
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#12
I agree with your gold sentiment, but disagree with the digital currency opinion. They both have their uses, and it is only when you confuse those that you run into trouble.

For example, I can instantly send you any amount of BTC no matter where you are - and do it semi-anonymously and outside of the SWIFT system. That is a very powerful tool. I wouldn't leave my life savings in it however...
QWAK,itchy166,The sun never shines on digital currency it gets pulled out of some ones ass and always has and will!:oriental:

I never heard of any one who could shit GOLD bricks or coins.:ponder:

the DUCK :winks2:
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#13
QWAK,itchy166,The sun never shines on digital currency it gets pulled out of some ones ass and always has and will!:oriental:

I never heard of any one who could shit GOLD bricks or coins.:ponder:

the DUCK :winks2:

The exact same argument could be made of fiat currency. But it still has its uses as well.

What do you buy your gold with?
 

Joe King

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
11,328
Likes
13,795
Location
Instant Gratification Land
#14
How on earth will they manage that? They "force" me to use fiat now, but I can still spend silver rounds at many farmer's markets. "They" are not powerful enough to shut down black or grey markets now, how will introducing electronic currency make that any different?
Not saying they'll "shut it down", but not everything is available for everyone in the black and grey markets. For most, once the electronic coin of the realm is accepted at places like Wally World, Target, grocery stores, car dealerships, real estate, and the tax man, people won't have to be forced into it. They'll sign up voluntarily. Especially so if laws are passed incentivizing its use and/or laws that dis-incentivize the use of cash.
Once a critical mass of people use it, everyone else will go along out of sheer necessity. If for no other reason.
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#15
The exact same argument could be made of fiat currency. But it still has its uses as well.

What do you buy your gold with?

QWAK,I send a check by US mail --- Paitence is golden ;):dduck:

the DUCK :winks2:
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#16
Not saying they'll "shut it down", but not everything is available for everyone in the black and grey markets. For most, once the electronic coin of the realm is accepted at places like Wally World, Target, grocery stores, car dealerships, real estate, and the tax man, people won't have to be forced into it. They'll sign up voluntarily. Especially so if laws are passed incentivizing its use and/or laws that dis-incentivize the use of cash.
Once a critical mass of people use it, everyone else will go along out of sheer necessity. If for no other reason.
QWAK,Joe King,It still will NOT be money GOLD is MONEY 5000+ years and counting!:2 thumbs up:

the DUCK :winks2:
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#17
Not saying they'll "shut it down", but not everything is available for everyone in the black and grey markets. For most, once the electronic coin of the realm is accepted at places like Wally World, Target, grocery stores, car dealerships, real estate, and the tax man, people won't have to be forced into it. They'll sign up voluntarily. Especially so if laws are passed incentivizing its use and/or laws that dis-incentivize the use of cash.
Once a critical mass of people use it, everyone else will go along out of sheer necessity. If for no other reason.
It doesn't matter to me whether 'everything is available for everyone'. It is available to anyone who puts the effort into finding it, and will continue to be.

Your forecast is correct that they will abolish cash, but I have an exception with "everyone else will go along" with it. Most will, but I don't think globally. I think only in terms of the individual, and there will be many individuals that will ignore "them". Just like there are many individuals who ignore them now...
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#18
QWAK,Rich or poor it always pays to have MONEY and we all know that GOLD is MONEY!:thumbs up 2:

the DUCK :winks2:
 

Mujahideen

Bin Laden double.
Midas Member
Site Supporter
Joined
Mar 31, 2010
Messages
12,736
Likes
24,737
#19
Gold has its place as having intrinsic value.

Digital currency as its place as being able to move digitally.

Both have pros and cons.
 

Joe King

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
11,328
Likes
13,795
Location
Instant Gratification Land
#20
QWAK,Joe King,It still will NOT be money GOLD is MONEY 5000+ years and counting!
While I agree in principle, ask yourself what happened to those who rejected the notion of FRNs in '33 and thought they could keep their gold for trading in order to survive.

Think of what happened during the great depression. While many may have kept some gold at the time, it wasn't used for bartering and buying food in the black market. If it was at all, it was done by an exceedingly small minority of people. So small a minority that if it happened at all it was to such a small degree as to not have any effect on the over-all use of fiat.
...and Duck, if you use a check to buy gold, I got news for ya. That's fiat you're spendin'. See? You have a use for it too!


Do you really think such a system as what we are discussing here would not also come with lots of incentives with which to entice the people to use it?
Believe me, if the masses think there's a lil something in it for them, they'll flock to it, and that'll just make it that much harder to not use it too.
Now, if they came out with such a thing and no matter the incentive people mostly rejected the idea, then it wouldn't work.
...but trust me, people will do whatever it takes to be able to easily purchase their necessities of life. That, you can count on as much as you count on your gold.
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#22
JM Bullion will sell you gold and silver for Bitcoins if you like.

To further confuse the issue.
I've purchased silver through them using BTC.
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#23
While I agree in principle, ask yourself what happened to those who rejected the notion of FRNs in '33 and thought they could keep their gold for trading in order to survive.

Think of what happened during the great depression. While many may have kept some gold at the time, it wasn't used for bartering and buying food in the black market. If it was at all, it was done by an exceedingly small minority of people. So small a minority that if it happened at all it was to such a small degree as to not have any effect on the over-all use of fiat.
...and Duck, if you use a check to buy gold, I got news for ya. That's fiat you're spendin'. See? You have a use for it too!

QWAK,joe I know all about the FRAUD perpetrated by the BANKERS and corrupt government and judicial officials concerning the only legal constitutional money back in the 30s and on going since then.:thumbs down:

I also know that $$$ in a bank is NOT money it aint even paper any more ---- that is why I use $$$$ in my checking account to buy GOLD and SILVER and do not allow it to stay in any bank! :thumbs up 2:I only keep minimal amounts (enough for monthly bills ) I my bank account.

the DUCK :winks2:
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#24
QWAK,Joe , any $$$$ over what is needed for monthly bills gets converted in to GOLD or SILVER ASAP!

I am totally aware of the FRAUD the BANKERS and the corrupt government officials and judiciary pulled in the 30s and continues on going to this day!!!:thumbs down:

the DUCK :winks2:
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#25
QWAK,bitcoins and all other digital currencies = digital suppositories!:dduck:

the DUCK :winks2:
 
Last edited:

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#26
QWAK,very soon the whole world is going to understand that FIAT is not MONEY when they get cought holding the bag full of worthless SHIT!

the DUCK :winks2:
 

Joe King

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
11,328
Likes
13,795
Location
Instant Gratification Land
#27
QWAK,Joe , any $$$$ over what is needed for monthly bills gets converted in to GOLD or SILVER ASAP!
See? you use it just as much as anyone. Or is duck chow priced only in gold these days? Last I checked it was $19.95frn's for a 35# bag of it, but I'm sure you get a bulk discount. lol
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#28
QWAK,bitcoins and all other digital currencies = digital suppositories!
I didn't know Ducks were so stubborn.

QWAK,very soon the whole world is going to understand that FIAT is not MONEY when they get cought holding the bag full of worthless SHIT!
I agree 100%.

But, I use a Forex account to trade paper silver. I don't keep a large balance - but am able to trade "silver" (more correctly, silver derivatives) at 50-1 leverage.

All of it is imaginary of course - the US dollars that the account is settled in, and the silver derivative itself. All of it is ephemeral.

During the last run in silver, I used $338 imaginary dollars, to make a $333 imaginary profit. I was too slow to trade the leg back down, so I didn't profit on the reversal.

All profits out of my trading account are converted to gold or silver. (I currently favor silver).

This is similar to how I use BTC. It's imaginary of course, just like the US dollars in my trading account. But, used correctly, it allows me to increase the amount of actual wealth I have.

Perhaps I could interest you in a digital enima?
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#29
I didn't know Ducks were so stubborn.



I agree 100%.

But, I use a Forex account to trade paper silver. I don't keep a large balance - but am able to trade "silver" (more correctly, silver derivatives) at 50-1 leverage.

All of it is imaginary of course - the US dollars that the account is settled in, and the silver derivative itself. All of it is ephemeral.

During the last run in silver, I used $338 imaginary dollars, to make a $333 imaginary profit. I was too slow to trade the leg back down, so I didn't profit on the reversal.

All profits out of my trading account are converted to gold or silver. (I currently favor silver).

This is similar to how I use BTC. It's imaginary of course, just like the US dollars in my trading account. But, used correctly, it allows me to increase the amount of actual wealth I have.

Perhaps I could interest you in a digital enima?
QWAK,Itchey "Perhaps I could interest you in a digital enima"----- why don't you just use a garden hose?

Any one who uses the fake $$$ in Any form helps the ongoing FRAUD continue longer :thumbs down:

Granted some times one must BUT beyond that I feel is a bad thing to be doing!:thumbs down:You are either helping make it better or helping the FRAUD to continue:totally steamed:

the DUCK :winks2:
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#30
QWAK,Itchey "Perhaps I could interest you in a digital enima"----- why don't you just use a garden hose?

Any one who uses the fake $$$ in Any form helps the ongoing FRAUD continue longer :thumbs down:

Granted some times one must BUT beyond that I feel is a bad thing to be doing!:thumbs down:You are either helping make it better or helping the FRAUD to continue:totally steamed:

the DUCK :winks2:

Come on Mr Duck.

It is not I who am committing the fraud, and you know it. I was born into this fraudulent system - and believe me, my choices and my lifestyle do nothing at all to reinforce it. Quite the contrary in fact. I live in a system that I had no say in building that taxes my time at almost 50%, and then deflates away what I am left with at 2% per year.

If I can claw back some of it by gaming their shit system before I cash in - that's exactly what I will do. No apologies from me. In fact, my way converts more of the economy into PM's than yours does - so who is doing more to end the fraud?
 

the_shootist

Old Pasty White Guy
Midas Member
Midas Supporter ++
Joined
May 31, 2015
Messages
52,942
Likes
96,335
Location
Earth
#31
I agree with your gold sentiment, but disagree with the digital currency opinion. They both have their uses, and it is only when you confuse those that you run into trouble.

For example, I can instantly send you any amount of BTC no matter where you are - and do it semi-anonymously and outside of the SWIFT system. That is a very powerful tool. I wouldn't leave my life savings in it however...
What would you rather have?
$100,000 in the bank or $75,000 in bullion and $25,000 in the bank?
 

the_shootist

Old Pasty White Guy
Midas Member
Midas Supporter ++
Joined
May 31, 2015
Messages
52,942
Likes
96,335
Location
Earth
#32



I'd hit it!
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#33
What would you rather have?
$100,000 in the bank or $75,000 in bullion and $25,000 in the bank?
I would take 75% bullion 25% bank if that is my only two choices.
 

the_shootist

Old Pasty White Guy
Midas Member
Midas Supporter ++
Joined
May 31, 2015
Messages
52,942
Likes
96,335
Location
Earth
#34
I would take 75% bullion 25% bank if that is my only two choices.
Thanks, I would too. There's value in both and you can still move from one to the other as long as the financial house of cards is still being propped up. If it falls you'll be happy with the bullion. For a useless relic gold is still commanding over $1200 an ounce
 

GOLD DUCK

Mother Lode Found
Mother Lode
GIM Hall Of Fame
Joined
Mar 31, 2010
Messages
13,688
Likes
6,749
#35
See? you use it just as much as anyone. Or is duck chow priced only in gold these days? Last I checked it was $19.95frn's for a 35# bag of it, but I'm sure you get a bulk discount. lol
QWAK,Joe now you are talking stupid shit!

the DUCK
QWAK,I'd hit it too ---- with my truck then back up and hit it agen to be shure it was dead!:thumbs down:

the DUCK :winks2:
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#36
Thanks, I would too. There's value in both and you can still move from one to the other as long as the financial house of cards is still being propped up. If it falls you'll be happy with the bullion. For a useless relic gold is still commanding over $1200 an ounce
Don't get me wrong - I value gold much higher than I value an equivalent bank deposit, or an equivalent BTC balance in my wallet.

My only disagreement with Gold Duck is that he thinks that gold is the only tool in the toolbox. I prefer to use a mixture of what is available.

Different forms of currency for different jobs.

Gold and silver for their superior ability to store wealth.

BTC for its superior ability to cross international borders, it's pseudo-anonymity, and it's ability to instantly settle a debt over any distance. (and recently, their ability to earn interest).

US or Canadian dollars (or their electronic equivalents ie debit cards) for their mandated ability to settle tax debts, their widespread (total) acceptance in the countries where I reside, and their ability to be tracked by the government and financial system.
 

the_shootist

Old Pasty White Guy
Midas Member
Midas Supporter ++
Joined
May 31, 2015
Messages
52,942
Likes
96,335
Location
Earth
#37
Don't get me wrong - I value gold much higher than I value an equivalent bank deposit, or an equivalent BTC balance in my wallet.

My only disagreement with Gold Duck is that he thinks that gold is the only tool in the toolbox. I prefer to use a mixture of what is available.

Different forms of currency for different jobs.

Gold and silver for their superior ability to store wealth.

BTC for its superior ability to cross international borders, it's pseudo-anonymity, and it's ability to instantly settle a debt over any distance. (and recently, their ability to earn interest).

US or Canadian dollars (or their electronic equivalents ie debit cards) for their mandated ability to settle tax debts, their widespread (total) acceptance in the countries where I reside, and their ability to be tracked by the government and financial system.
Duck is a pretty smart guy and a big gold fan. I'm more inclined to agree with you. I avoid putting all my eggs in one basket but do have a fairly substantial amount of my wealth in bullion. That being said I'm also hedging my bets that the world still holds value in fiat. Spread it out and cover as many bases as you can afford to.
 

Joe King

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
11,328
Likes
13,795
Location
Instant Gratification Land
#38
QWAK,Joe now you are talking stupid shit!

the DUCK
No, I was talking about your use of fiat.


Any one who uses the fake $$$ in Any form helps the ongoing FRAUD continue longer
Apparently you help it along too, because per the following 100% of your transactions are in fiat.

any $$$$ over what is needed for monthly bills gets converted in to GOLD or SILVER ASAP!
So you do need fiat for monthly bills and to buy gold and silver with. Why not just pay those bills with gold and silver and skip the fiat if it's so bad?
Does the taxman accept gold? Does the grocery store you shop at accept gold as payment? There was a time they did, but then the masses went along with the new system of fiat.
What do think will happen when the masses adopt the next new system? Same thing as when they adopted the current one when the last system broke due to gov mismanagement.
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#39
Avoiding tax is the actually the most effective way to build wealth.

In fact, that is what makes bullion great, it avoids the most dishonest and insidious tax there is - inflation.

BTC can avoid other types of taxes if you are so inclined to use it that way. And remember, it too was designed to avoid inflation, it just hasn't proven itself successful at it yet.
 
Joined
Apr 30, 2016
Messages
107
Likes
131
#40