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Thread: The Return of Sound Money

  1. #31

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    Quote Originally Posted by helmuth_hubener View Post
    Thank you, Pierz. I see now I have a LOOONG way to go before I can be said to have explained how Midas works in a easy-to-understand way.

    Because, with Midas, you are not holding dollars. You are holding gold.
    Well, it seems like you, or whoever runs the vault, is the one holding the gold. Not me. I get what you're saying about how it works. And it isn't like But the issue is that the whole point of holding gold is that I hold it, in my hand. Or at least I have easy access to it.

    And it still sounds like I'm left using dollars. You take my gold, convert it to dollars, that gets spent. I get what I bought, the company gets gold converted dollars (digital or physical), you get gold with whatever amount you take as user fees and such. That isn't a bad plan as far as economic go, except the dollar is controlled by madmen who are destroying it. That problem and its related problems of devaluation don't go away.


    And no, I don't hate you. I hate some of the ideas you've espoused. But that is not the same as hating the person.
    “Maybe I forgot to mention something to you: I don’t believe in queens. You think freedom is something you can give and take on a whim. But to your people, freedom is as essential as air. And without it, there is no life. There is only darkness.” -Zaheer

    "A man chooses. A slave obeys."-Andrew Ryan

    "There are three things the parasite hates: free markets, free will, and free men."-Andrew Ryan



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  3. #32

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    Quote Originally Posted by PierzStyx View Post
    Well, it seems like you, or whoever runs the vault, is the one holding the gold. Not me.
    True, physically. But legally, you are the owner.

    I get what you're saying about how it works.
    Excellent!

    And it isn't like
    ....???

    But the issue is that the whole point of holding gold is that I hold it, in my hand.
    The whole point? That is the only benefit of gold, to you? Because you can hold dollar bills in your hand too; they satisfy that standard.

    If you (a) want to use gold as money, and (b) you absolutely demand to hold it in your hand at all times, if that is your standard, then you have created a Catch-22 for yourself. You will need to first convince everyone with whom you wish to do business to accept gold. That is not practical. So, you're stuck with no solution.

    I broke open the Catch-22.

    Or at least I have easy access to it.
    Well, "easy" is relative. If you can ask for redemption in gold at any time and within a week your gold arrives in the mail, would that be easy enough? I think for many, it will be. For you, I don't know. Maybe so, maybe not.

    And it still sounds like I'm left using dollars. You take my gold, convert it to dollars, that gets spent.
    Have you heard of the concept of "Just In Time (JIT)"? It's a manufacturing and logistics concept. That's what this is. Your gold stays your gold until the last possible second. Only when you swipe the card does your gold get sold. At that moment. Why is it sold at all? Because the person you're paying wants dollars. Sorry, but he does. That's the way it is right now. That could change, and Midas is a bridge to that future, but first we have to deal with this side of the shore, as it really is, in order to build our way to the other.

    So, you are on the gold standard: you own and use gold, because you have been educated by Ron Paul and Rothbard and others and prefer the benefits of gold (inflation-proof). And at the same time, you can conduct business with everyone else, even though they are still stuck on the dollar standard.

    the dollar is controlled by madmen who are destroying it. That problem and its related problems of devaluation don't go away.
    It does for you.

    Your account is in gold. You keep gold. Your savings is in gold. You stick everyone else with dollars. McDonalds gets dollars. Home Depot gets dollars. Your barber gets dollars. They still are vulnerable to the madmen and their devaluation. You aren't.

    you get gold with whatever amount you take as user fees and such
    You should actually go to the page and read the intro. I think you'll find my fees very reasonable.

    https://Midas.gold/intro

    Thank you for the conversation, and keep it coming!
    The rebel of the 21st Century will be old-fashioned.

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