careinke wrote:
-Which BRICS country would you trust to hold the Gold?
-How would you trust the gold claimed even really existed?
-How do you audit the gold to make sure ALL of it is really gold??
-Can you name one country with a central bank currency backed by gold that did not eventually devalue their Fiat gold notes?
-Thanks in advance for your answers.
-Trust to Hold what gold? Their gold is their business, my gold is mine.
-It exists because it was mined and went into vaults. Does bitcoin exist? When the server goes down?
-Audits are meaningless, the gold is a symbol, it's ownership is verified every time it changes hands between one entity and another.
-Eventually devalue their Fiat gold notes? You mean abolish them. What do I care about events in the decades to come, I'll be long dead before any new gold back system gets corrupted into what we have now.
Paper Gold? Now that is a promise sold to suckers that have no idea about how paper markets work. It is a scam, an excess wealth sink where people put money they hope to spend in the future but don't have the intelligence to buy gold themselves. It's just another system based on trust in the dying fiat money system, just like Bitcoin, a digital paper system where you exchange an entry for fiat money then buy a car. Every Indian, Every Chinese, Every Arab on the planet knows the value of Gold. It is only the stupid people of Western societies that have lost the knowledge. They put their faith in stock markets and in faceless men running banks and Retirement funds. They trust men like Biden to keep the wheels turning.
Peace