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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 366.07-0.1%Nov 6 4:00 PM EST
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To: TobagoJack who wrote (172169)5/23/2021 4:37:00 AM
From: sense1 Recommendation

Recommended By
maceng2

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Saw an bit, today, addressing the announcement of plans by the UAE to build a very large new refinery and storage facility, the purpose of which will be to create tokenized gold, silver, platinum and rhodium coins, metals to be tokenized and to be kept on site... as backing for new PM backed digital currencies...

The talking head addressing it... was conflicted.

On the one hand, he was increasingly concerned about fraud in metals becoming an issue... so having a central issuing authority working to ensure the validity of the backing was a protection of some value...

On the other hand, he was very concerned that having tokenized ownership of metals would ensure that the ownership was traceable / trackable... along with any transactions... the potential lack of anonymity in ownership and exchange being as much or more of a cause for concern as the authenticity of the metal.

Gresham's law... likely applies to money that spies on you in new ways... ? Will have to ponder more.

I have not yet watched any of the items I've seen addressing the announcement of U.S. or Fed backed digital currency concepts....

As governments and banks clearly are seeking to use digital money concepts to enhance their own power and control over people... the world seems instead to be gravitating to the idea that money is far too important to allow governments to have anything more to do with it than they do now...

Of the risks that exist... I think the most manageable of them... is that of counterfeit metal... easily obviated in large part by choosing to engage with reputable dealers... and buying in forms that make counterfeiting improbable...
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