I just checked the price of a US Silver Eagle (1 oz.): $39
The spot price is around $33. The vigorish on silver coins always pisses me off. There's vigorish when you try to sell a silver coin, too. Coin dealers, including the US Mint, remind me of the money changers in the Temple.
Been stacking for many years, Gary. Thanks for posting this article shining the light on the silver lining to the dark clouds ahead. Sorry, couldn't resist 😜
As a backing for digital tokens/stablecoins, silver and gold should work fine as a once all the countries convert their paper money into digital tokens which would go onto a blockchain.
Pricing of goods and services could be determined by how many tokens you own. As an example, if you have no tokens all your essentials will cost zero. Might sound good if you're broke, but you can only get tuna in a can - no goodies for you.
Low level token owners get a deal on essentials. Stuff like bread and tuna might only cost say 1 token. If you have lots tokens that same bread and tuna might cost you 50 tokens for the high rollers. You get the idea.
This could all be set up on blockchains by and for citizens in each country. AI programs could be readily available to compute all the pricing and monitoring the purchases. It might seem like a big project, but with quantum computers anything is going to be possible. This is how we can get control of our own money. No government required.
There is just something about the sound a silver (or gold) coin makes when you drop it on a counter. Music to my ears.
I just checked the price of a US Silver Eagle (1 oz.): $39
The spot price is around $33. The vigorish on silver coins always pisses me off. There's vigorish when you try to sell a silver coin, too. Coin dealers, including the US Mint, remind me of the money changers in the Temple.
Been stacking for many years, Gary. Thanks for posting this article shining the light on the silver lining to the dark clouds ahead. Sorry, couldn't resist 😜
~~ Johnny
As a backing for digital tokens/stablecoins, silver and gold should work fine as a once all the countries convert their paper money into digital tokens which would go onto a blockchain.
Pricing of goods and services could be determined by how many tokens you own. As an example, if you have no tokens all your essentials will cost zero. Might sound good if you're broke, but you can only get tuna in a can - no goodies for you.
Low level token owners get a deal on essentials. Stuff like bread and tuna might only cost say 1 token. If you have lots tokens that same bread and tuna might cost you 50 tokens for the high rollers. You get the idea.
This could all be set up on blockchains by and for citizens in each country. AI programs could be readily available to compute all the pricing and monitoring the purchases. It might seem like a big project, but with quantum computers anything is going to be possible. This is how we can get control of our own money. No government required.
Great stuff Gary. Thank you