Hey I talk about this RMG in chat room some. I will say gold is my passion! I got into domaining just to buy gold related domain names (they are 80% of my profile). One of my first posts here started the 'gold and silver showcase and discussion thread'. Also, I love blockchain. I like bitcoin too, but I like gold better. Most pundit can not figure how I liked both (gold and bitcoin BOTH
can't be major currency)! The reason I like bitcoin is blockchain tech, the open ledger. Blockchain, compared to current transactions though banks and other 3rd-parties is night and day.
I have researched economies with a focus on gold my whole life, for almost 20 years since I was 14 years old...lol maybe that's weird?
Also, I have been aware and study bitcoin since a long time too (below $3 price). Now you see, this is always of interest to me - I am not into this because some 'trend'. That said, I want to offer my opinion on this! Some here said some things I agree with too, but i will just re-say it myself. Basically, I see many asking questions like 'what is this', or 'why'.
I don't believe in USD or any paper money at all. I know it is a scam, and a genius one that has been planned for a long time in order to steal real assets! Dollar is an inflationary currency and will always lose value. It is based 100% on debt. As debt grows, more money has to be printed in order to service that higher debt. The federal reserve would like you to think they can balance all this and make it last forever, but they cannot. The large debts are actually the biggest problem. Most believe we debt is very high because of misuse. Yes, lots of misuse, but most importantly, this would happen no matter what! The inflation happens exponentially over time. All in history it just goes parabolic toward the end. Most recently you can see German mark, Zimbabwean, and Argentina (many more too). There is so much intricacies and tangents how this is all perverted too, but that could fill a book. Point is, there needs to be a solution, and before everything takes a major dump.
So there needs to be some gold standard. It's accepted and recognized worldwide. Of all the things, the population as a whole will accept this. It is good for the banks and governments too, because they have large amounts in their vaults! (compared to general population, probably you, basically have none...another reason might be in such denial of what I'm talking about here). When such hyperinflation happening people will beg for a legitimate solution to save them. Even though people have no gold, they will believe they can earn it, besides no one else they know has gold...so level playing field. Also, the gold blockchain is in place already (rather conveniently eh?), being traded on the major exchanges throughout the world! It's better than earning dollars that are worth less and less everyday. Anyways, you won't have a choice. It will be money by decree. It's not a bad thing though contrary, this needs to happen.
You know these governments / banks want 'power', and I will tell you, 'power' is mostly perceived! When gold is money, they will have the real thing in their vaults. Plebs like you and I will be transacting it digitally, practically never being able to get real thing. Not a big deal, this digital stuff is way more convenient anyway. The psychology of them having the real, physical stuff, will give the perception of power they need however. That is very important fact, and don't underestimate it. Besides this obvious reason there is another reason: The fear that they can stop backing this digital blockchain with their gold, effectively destroying our whole economy and probably throwing us into dark ages. It sounds crazy, but with capability to cause such damage so easily gives us fear, and again, that is more perceived power!
Am tired of writing now. Most u think I lost my tinfoil hat
time well tell, eh? It just makes perfect sense this happens. The blockchain is such good tech. This money can be transferred instantly, publicly and inherently safely. There will be no more hiding from taxes, etc. There is every reason for this to happen. To me, the pieces make so much a clear picture I am in awe that anyone can think otherwise! Digital gold will be the future money! If it is called RMG or not, I have no clue.
