This is very interesting, and fits perfectly with Catherine Austin Fitts' ideas of decentralised community owned crypto.
Just like anything to do with money, it needs to be started in a community which trusts each other. One advantage with this is that even though people outside the community may not trust this crypto, it should be fairly trustable within the community. This means all the local businesses can accept this crypto from each other. As long as the crypto is in circulation, its creating business for the local community - an additional win.
On top of that, your investment suddenly becomes liquid. How nice is that?
Some downsides:
There needs to be a way to ensure that the holding company indeed holds all the silver its supposed to hold.
What about when people want to withdraw their silver. It's imaginable that some people deposit silver bars, but later might want to withdraw a few grams. Liquidity will be a problem since its not easy to break down bars into grams.
Having the facility open to investor based inventory audits would make them honest about what they hold. Ensuring the holding company has EXACTLY what it's supposed to have (and not a percentage more/less), based on customer inventory AND company physical on site holdings, while also ensuring there's no "fractional reserve" type business model, i.e. The Fed is what's stopping me from liking this proposal.
I don't like the idea of banks, trading firms, holding companies, or any other type of "financial institution" in general, and I'm sure I'm not the only one here or anywhere else that feels the same. It's just too easy for unsavory type characters to manipulate things to benefit only them. And getting something like this off the ground WITHOUT any help, support, or involvement from [them] is gonna be almost impossible. No one really knows how many "allies" [they] really have.
So, I'm inclined to stay out of this and just keep collecting and holding physical assets myself.
And getting something like this off the ground WITHOUT any help, support, or involvement from [them] is gonna be almost impossible. No one really knows how many "allies" [they] really have.
You overestimate their need in the society. ANYONE can start a new currency, as long as there are enough people who trust that currency.
The only think the Bankers bring to the table is this trust factor and they do it by manipulating public perception via media, experts, intellectuals etc.
At a community level, if there are respected people within the community that everyone trusts, then you dont need the bankers to get this off the ground. The framework is already there. You just need to run your own blockchain and there are plenty to choose from. These respected people can become the guardians of the physical silver.
To create transparency, what needs to happen is the common vault where the silver is stored needs to be in a very secure area and needs to have multi-keyed entrance. As long as, say, 50% of the guardians are available with their keys, you can open the vault and access the silver.
Every couple of week there should be a specific time when the silver vault is opened while any member of the community can watch, and new deposits added and withdrawals taken out. All silver tested with a purity machine in front of everyone. This will make it transparent, and the whole community gets to feel like they are running this currency together.
If you haven't seen her video from last year (I think August or so), you should. Its the one where she explains what BLM was doing (Urban redevelopment in the guise of riots), but also she goes into a lot of details about the financial aspects and she touches upon this community based crypto currency,
I have been scratching my brains a lot about how this can be implemented. Your post outlines pretty much a good blueprint for this, even though as I explained, I would implement this at local community level. Each community would have their own silver backed currency.
We are thinking seriously about leaving the city and moving into a farm community (except we have no farming experience). This kind of stuff would work only in a cohesive community, and thats what we want to find. Not a city life where no one knows anyone else.
This is very interesting, and fits perfectly with Catherine Austin Fitts' ideas of decentralised community owned crypto.
Just like anything to do with money, it needs to be started in a community which trusts each other. One advantage with this is that even though people outside the community may not trust this crypto, it should be fairly trustable within the community. This means all the local businesses can accept this crypto from each other. As long as the crypto is in circulation, its creating business for the local community - an additional win.
On top of that, your investment suddenly becomes liquid. How nice is that?
Some downsides:
There needs to be a way to ensure that the holding company indeed holds all the silver its supposed to hold.
What about when people want to withdraw their silver. It's imaginable that some people deposit silver bars, but later might want to withdraw a few grams. Liquidity will be a problem since its not easy to break down bars into grams.
Having the facility open to investor based inventory audits would make them honest about what they hold. Ensuring the holding company has EXACTLY what it's supposed to have (and not a percentage more/less), based on customer inventory AND company physical on site holdings, while also ensuring there's no "fractional reserve" type business model, i.e. The Fed is what's stopping me from liking this proposal.
I don't like the idea of banks, trading firms, holding companies, or any other type of "financial institution" in general, and I'm sure I'm not the only one here or anywhere else that feels the same. It's just too easy for unsavory type characters to manipulate things to benefit only them. And getting something like this off the ground WITHOUT any help, support, or involvement from [them] is gonna be almost impossible. No one really knows how many "allies" [they] really have.
So, I'm inclined to stay out of this and just keep collecting and holding physical assets myself.
You overestimate their need in the society. ANYONE can start a new currency, as long as there are enough people who trust that currency.
The only think the Bankers bring to the table is this trust factor and they do it by manipulating public perception via media, experts, intellectuals etc.
At a community level, if there are respected people within the community that everyone trusts, then you dont need the bankers to get this off the ground. The framework is already there. You just need to run your own blockchain and there are plenty to choose from. These respected people can become the guardians of the physical silver.
To create transparency, what needs to happen is the common vault where the silver is stored needs to be in a very secure area and needs to have multi-keyed entrance. As long as, say, 50% of the guardians are available with their keys, you can open the vault and access the silver.
Every couple of week there should be a specific time when the silver vault is opened while any member of the community can watch, and new deposits added and withdrawals taken out. All silver tested with a purity machine in front of everyone. This will make it transparent, and the whole community gets to feel like they are running this currency together.
If you haven't seen her video from last year (I think August or so), you should. Its the one where she explains what BLM was doing (Urban redevelopment in the guise of riots), but also she goes into a lot of details about the financial aspects and she touches upon this community based crypto currency,
I have been scratching my brains a lot about how this can be implemented. Your post outlines pretty much a good blueprint for this, even though as I explained, I would implement this at local community level. Each community would have their own silver backed currency.
We are thinking seriously about leaving the city and moving into a farm community (except we have no farming experience). This kind of stuff would work only in a cohesive community, and thats what we want to find. Not a city life where no one knows anyone else.
CAF was one of the first red pills for me back in 2015. Her talk on the Black Budget tore the veils from my eyes on a lot. Early red pill.