Central banks continue to purchase gold - Gold Standard Restoration Act

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The credit system is a major stumbling block but digital tokenisation of assets maybe a way around that. We could end up with digital currencies with inbuilt functionality that covers all that a bank does for you AND a token market where you can invest in virtually anything offered. That is to say you loan your money directly to the end user for an agreed return secured against a tokenised asset that you can trade out of at will. The asset might be Trump Tower, a house down the road, a fleet of aircraft etc... whatever needs finance to get up and going. You could even finance a rising sports stars career!

This does side step the whole fraction reserve thing, with money "at call" that isn't actually there. It also kills the banks off and hands the risk and profit back to the originator of the capital... YOU.

I find the idea attractive, at least on first blush.
 
I've heard a discussion of this very subject on the car radio. According to the speaker he researched where the gold was going to (central banks) and where it was coming from (gold dealers) and the status of the gold (gold certificates). Gold was coming from gold dealers (in the US) who were selling the certificates because is suited their gold profiles and it was just time to get rid of the certificates. The big buyers were China, India, and just about all the central banks.

I really don't see the attraction of gold certificates rather than purchasing physical gold. I rather have physical gold than in any other form. If you have the gold certificates you may not have anything on the day of settling. So what's the attraction any why are they saying that they sold 20 tons of gold when all that was transferred was a piece of paper.

The moderator was talking about that this may be a time to buy. He may be right.
 
walkingnam said:
I've heard a discussion of this very subject on the car radio. According to the speaker he researched where the gold was going to (central banks) and where it was coming from (gold dealers) and the status of the gold (gold certificates). Gold was coming from gold dealers (in the US) who were selling the certificates because is suited their gold profiles and it was just time to get rid of the certificates. The big buyers were China, India, and just about all the central banks.

I really don't see the attraction of gold certificates rather than purchasing physical gold. I rather have physical gold than in any other form. If you have the gold certificates you may not have anything on the day of settling. So what's the attraction any why are they saying that they sold 20 tons of gold when all that was transferred was a piece of paper.

The moderator was talking about that this may be a time to buy. He may be right.
Click to expand...
The fun part is that there are more than 100 gold certificates for the each ounce of gold those certificates represent. This is not a deep sekrit at all.

It'll be first come, first -- and only first -- served. :cautious:
 
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