Did we just get a confirm on Marker [9]?
Hunter pleads guilty to all 9 Counts.
And just for kicks... Hunter could face 17 years
(media.greatawakening.win)
LET'S GOOoOoooo!!!
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The Gold Standard is going world wide, or at least will be the new world currency if the US implements it...the way it should have been, or even now, but not based on oil.
I have crypto, but at most, it'll be a store of value currency but not what some think it'll be. The tech will probably be used on the back end, but it's not what every person will transact with in daily life. Call it the new SWIFT system if it gets that far.
On the Gold Standard how do you fix the problem of paying extra security fees and transportation costs. Also long distance travel takes time, how will we have near instant transactions on a gold standard?
I don't think you understand how a block chain works, you don't need a 3rd party bank like you would if you routed money through the SWIFT system and its not controlled by a central authority.
Crypto and blockchain will be much more than a store of value, it will be THE way of exchanging vaiue in the future. People will use crypto and block chains everyday whether they know it or not. If you think otherwise then it's not worth holding as a "store of value".
You don't send the physical, that's held in vaults like it used to be. That's also how you have actual backed paper money. If it's pegged on, let's say the blockchain, now you have an electronic version that can be sent. If not, you also have the paper form, but that's not nearly as efficient, but beats physical delivery of course.
I was using SWIFT as an example of every day transactions that society does. They'd use it without ever really knowing it, kind of how we all use a card for transactions. We already have multiple blockchain projects that utilize a payment card. People will have the option to send it directly themselves of course, if they already have wallets setup. But your every day normie would use a debit card just how they do now.
I was referring more to store of value, because once crypto starts being used across the world, it will no longer be a massive rollercoaster in price swings. The ones used will be much more stable. If it's not, then it's just another form of highly volatile money, and that's not sound.
Then your not fixing the problem, just the symptom. Whoever holds the gold and controls the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.
Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.
You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves. I don't think that is possible.
You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.
Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.
If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.
If used like money everyday, eventually you are going to have a few people controlling all the crypto just like you have now with dollars which make the crypto not so decentralized anymore. The big difference is there is a much more streamlined process to improve on previous mistakes and the decay should be a lot slower. No more Triffins Dilemma for a world reserve currency either.
Blockchain data is public. They can not fib the numbers like they can now. Just how goldbacks and silverbacks had serial numbers that were directly tied to the physical. Tie these two together, and we now have a fully transparent money system anyone can go verify for themselves.
Yes, there would have to be trust in how it's held, but we all anons seem to have that trust in Trump and his plans. There has to be trust, or else each individual is forced to hold their own, which isn't feasible. We would have to have regular audits done to keep the trust, but we'd also have to trust the people doing the audit.
Let's hypothetically state that we don't go back to a gold standard, and solely use crypto...what's backing this? Without no backing, we are just going back to using 1s and 0s as money, backed by nothing. Again, that wouldn't be sound money, and just a new form of fiat that has zero intrinsic value.
The banking system will greatly change. If the new gov't only gets money from tarrifs, that should eliminate any money printing. Banks would be forced to only be able to lend what they have on hand. With all money being forced to be backed 1:1, if they don't have it, they can no longer lend what they don't have, as we see today in the derivatives market.
I do believe we will be using crypto for daily transactions, but without it being backed by something, we are entering CBDC territory.