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I do not think its safe these days particularly for large amounts. Guy could tip off before or after the delivery to make you robbery target at best.
Why not some crypto???
1. Money comes into existence through lending.
But banks/lenders DO NOT create money.
An honest bank could easily provide this. As history has shown, if they prove reliable at appraising coins, and always having full account balance on hand
Patrick says
Looks dangerously woke though.
It's not.
People would have to pay for the bank to store the coins though.
Patrick says
Looks dangerously woke though.
It's not.
We should just start our own country and call it "patrick.net-stan". We could buy an island or some offshore oil rigs...we will be fine. We should probably grow some crops in greenhouses on them. Then we will issue our own currency....which will be great!
The transaction could be done as promises to deliver gold or silver. Those promises can then be re-spent.
Money comes into existence through lending.
5 silver dollars would have $100 to $150 silver value, depending on who you sold it to.
And what happens when mining is fully roboticized?
Cowry shells were used as money. So have been beads. Ledger entries of wheat stored in the silos of Ancient Egypt was used as money.
And what happens when mining is fully roboticized?
We finally mine one of those NEOs, there will be millions of tons of gold, platinum and silver flooding our markets.
Then you should easily be able to buy gold and silver coins, and get delivery for far below current spot right?
Barter and underground economies based on gold backed rubles, like the Russians used to do with dollars and parallel economies during the hard core Kommie times..
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There's .71 ounces of silver in every $1.00 of silver coins, so it works out to be about 3.5 ounces and that's around $70 bucks - maybe $85 as of today.
It's like coming up with a cunning plan to outsmart the casino at their own game
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Something totally independent from Wall Street.