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Thursday, August 29, 2019

No time to procrastinate!

No doubt you have witnessed the machinations of various central banks and world leaders and wondered at the clownishness of them all.  They are all True Believers in the fiat system.  All except Trump.  He knows they are all frauds and is calling them out.  With any luck, he'll crush the fiat system and reinstitute a truly hard currency as, for instance, was introduced in 1792 when silver was made the backing for money.  412.5 grains of .900 fine silver.  Copper added for durability.  The gold backing was added later as an accommodation but silver was money for a long time.  I remember when Johnson signed the order to remove silver from coinage as of January 1, 1965.  Then, Nixon removed us from the gold settlement standard in 1971.  In January 1973, I started back to college to get a second bachelor's degree, this time in accounting.  One of the classes (Business Finance) required a term paper and I chose to investigate how many US dollars were floating around for each ounce of gold.  Using the Almanacs in the university library from 1900, 1910, 1920, 1930, 1940, 1950, 1960 and 1970, I adjusted the calculations (the base year changed 3 or 4 times, not to clarify I'm sure but to confuse but I figured it out) and finally calculated that in 1970 there were 1,743 US dollars outstanding for each ounce of gold in the treasury. (Assuming the numbers were correct.)  The professor loved it and gave me an A+. 

Have you ever heard of Bill Holter and/or Jim Sinclair?  They do videos separately and together analyzing the currency and precious metals markets around the world and I learned to listen to them because they DO know what they are talking about.  In one particular video with Greg Hunter (one of the very few truly professional journalists left in this world), they expounded on the coming crisis and how the price of gold will go to a minimum of US$ 87,000 per ounce. Click here to hear it for yourself.

Then there is Egon von Greyerz, who is the head of Matterhorn Asset Management, who documented that the US Dollar has lost 98% of its purchasing power since 1971. See here. That's close enough to 1970 to use that for this little experiment.

That would mean the amount I calculated only represents 2% of the value in today's dollars.  OK.  So, when I divide $ 1,743 by 2% what do I get?  $ 87,150.  Exactly.  This is independent proof that Holter and Sinclair know what's going on.  That assumes Greyerz is hip to reality.  I've been involved since I started my mint in 1980 and, trust me, Greyerz knows this cold, too!

What are you waiting for?  Go buy some Gold! 

Sunday, September 2, 2018

It's been almost a year since my last post and a lot has happened.  The success of cryptocurrencies has made central banks jealous and they are more and more wanting to issue cryptocurrencies of their own.  Smart money will stay away from central bank cryptos.  They will just create more and more or create an initial of 100 billion trillion gazillion and then release the coins on an as needed basis in order to manipulate the value.  Nothing will be gained.  Stick to the currencies (coins and tokens are both cryptocurrencies but indicate a different sourcing) that are not controlled by central banks.  They have proven they can't be trusted. 

There is a special currency I want to mention ( DGX version 2.0 ) that is controlled by the DGD people.  There were only 2 million DGD tokens issued and there won't be any more but owners of DGD will be paid a portion of the transfer fees generated by people using DGX to send gold-backed value all around the world.  DigixDAO is the company name (click here to go to the website) and I refer to DGD as the million dollar coin because, when the world discovers what it can do with a truly gold-back coin, the demand and usage will skyrocket and DGD will become very valuable.  I've added  market quotes for both at the bottom of the page so you can reference them together.

There are other coins claiming to be gold backed but so far the ones I've checked out state that the backing is physical gold and ETF gold.  ETF gold is paper gold and immediately disqualifies the coin because paper gold will disappear as fast as fiat currency in the coming crises (plural).  I've read DigixDAO's white paper and examined not only the audit plan but the audit reports as they appear and it's as solid as anything I've seen as a financial professional for over 40 years.  Could it all be a lie?  Of course, but the likelihood of it is extremely low, especially because the management has shown a high degree of integrity in dealing with DGX 1.0 (which had to be recalled and everyone was refunded their money).  Then there's the issue with the government of Singapore where DGD is based taking a dim view of financial fraud committed from Singapore as a base of operations.  I hear that prison in Singapore is rather undesirable so expect that little extra should help assure the reader that there's is little likelihood of financial chicanery. That's for starters.  That's it for now.