The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance. Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class disparity, and eventual hyperinflation. All of which progresses slowly and inconspicuously at first.
Digix, a company based in Singapore selling cryptotokens (DGX) redeemable for real gold announced a partnership with SilverGoldBull.com (SGB) today. A mutual benefit, however, strong partnerships usually create tougher competition. The partnership greatly increases the offering for customers of both Digix and SGB. Digix will have their metals stored in custody with Silver Gold Depository, which uses Brinks for the vaulting of precious metals.
Admiration of gold predates history. The earliest known history of gold is a golden treasure dating back to 4600 BC. One of the earliest known Egyptian maps, the Turin Papyrus Map, shows detailed plans for a gold mine. The Aztecs regarded gold as the product of the gods, calling it literally “gods excrement”. Civilizations from every corner of the world clearly made great connections with their Gods and Gold. Today the world is full of gold symbolism: ‘golden years’, ‘good as gold’, ‘golden rule’, ‘golden age ‘ and ‘gold standard’.
IAMGOLD Corporation today announced that it has made a strategic investment in Emergent Technology Holdings LP, a financial technology company that uses blockchain technology to track the provenance of responsibly sourced gold. IAMGOLD joins partners that include Sprott Inc., Valcambi sa and Yamana Gold Inc., in investing in EmTech’s innovative gold supply chain and digital token platform. EmTech’s Responsible Gold™ supply chain application is the only blockchain solution that automates the tracking of responsibly sourced gold from origin to vault.
The selling of US treasuries has been wildly popular and widely reported. China has been a seller for 3 months now. Japan has flipped to selling in August, now having the lowest amount since 2011. It should be of no surprise that Russia finally has no US treasuries, having sold off their remaining holdings as of August. Russia chooses to invest in gold instead. They are not alone, many countries are. Including most recently Poland and Hungry. Hungry has increased their domestic gold reserves ten-fold, to 31.5 tonnes in just the two weeks starting October 2018!
Many knew it all along; blockchain is secure, transparent, flexible, universal, efficient. Anyone not implementing mainstream blockchain today is being left in the dust, like a business still using file cabinets in 1999. One of the best use cases for blockchain is the banking industry. Nasdaq claimed blockchain has potential for reducing settlement time and risk exposures over 99% when the exchange implemented its own blockchain-based platform in 2015. At the time, former CEO of Nasdaq Bob Greifeld said…
There are many gold misconceptions distributed about. The propaganda is meant to keep us from buying gold. The Federal Reserve is a private institution representing the interests of 12 US banks. The Fed’s foremost agenda is to defend their banking system. Secondarily it represents broad economic interests as mandated by US Congress. Those objectives do not always work in harmony. Gold is the central bankers Achilles heel. Interest in gold means people are losing faith in the fiat.
Article by Brandon Smith via Birch Gold Group, Blind faith in the U.S. dollar is perhaps one of the most crippling disabilities economists have in gauging our economic future. Historically speaking, fiat currencies are essentially animals with very short lives, and world reserve currencies are even more prone to an early death. But, […]
Canamex Gold Corp (CVE:CSQ) signed terms of agreement with Harmonychain, a Norwegian fintech company. The pair are considering issues around an ICO, one potentially backed by gold / silver using Ethereum technology. Following taken from CanamexGold.com Your opportunity to be part of the “Silver Standard” in the new wave of silver-asset-backed security […]
The gold industry is looking into the possibility of tracking the precious metal using blockchain. The Perth Mint is already working with the London Bullion Market Association (LBMA) and two or three other parties to work out which technology is the best and if the gold industry will adopt it. Blockchain is best known as the basis of cryptocurrencies such as bitcoin. But it has many other potential applications such as securing digital contracts and supply chain data. The technology allows a publicly available, tamper-proof…