Mar 112017
 
GreenFire DAO, Announces A Cryptocurrency Crowdsale for Its GLD gold backed currency, a Landfill Mining Asset Currency The GreenFire DAO project has announced its upcoming crowdsale of GLD cryptocurrency, a gold backed currency for current and future Landfill Mining and “Children of the Landfill” projects. Panama City, Panama – The Panama-based GreenFire DAO studio. GreenFire DAO is launching a crowdsale of its GreenFire DAO (GLD) cryptocurrency. The soon to be launched crowdsale will involve custom gold backed tokens based on the Infinity-Economics’ next generation blockchain. The GLD cryptotokens, sold during the crowdsale will serve as an in-project currency for the landfill mining projects and the “Children of the Landfill” eco-village development. The GLD and the IoT for the projects are developed by GreenFire DAO Studios. Subscribers to GreenFire DAO crowdsale can use the tokens on the Infinity-economics exchanges — a cryptocurrency,universal wallet and exchange. With the GLD cryptotokens, investors will be able to buy the many manufactured items produced by the 3D printing manufacturing included in the “Children of the Landfill” eco-villages. All purchases made on the platform get recorded on the Infinity-economics blockchain, enabling GLD holders to share, trade, sell, register and safely store digital assets. The use of the advanced blockchain by Infinity-economics also allows investors and asset owners to verify their holdings at any time. Assets owned by the investors on GreenFire DAO network are free from third-party intervention. It prevents others from seizing, deleting or modifying the assets or the markets on which they are exchanged. The GreenFire DAO team continues to develop both the current as well as new sub-currencies. All the sub-tokens developed by GreenFire DAO will support and use the native Infinity-economics blockchain and exchanges just as GLD tokens, all will be interchangeable. The GreenFire DAO team will be creating tokens according to the GreenFire DAO asset value on deposit. Presently GreenFire DAO has assets to issue 2 million tokens at an assured base price of $50USD. 100,000 GLD tokens, out of 2,000,000 GLDs will be made available to the crowdsale participants. The rest of the 2,000,000 GLD tokens will be held on deposit for later distribution GreenFire DAO has already made its whitepaper and supporting credentials available on the website. It will soon announce the exact dates for the upcoming GLD Crowdsale as well. In preparation for the Crowdsale, you may download your free Infinity-Economics wallet at http://infinity-economics.org/ About GreenFire DAO The (more…)
Jul 262015
 
Gold – Visualized in Bullion Bars There’s surprisingly little Gold in the world & this infographic shows all the Gold ever mined. In this Gold infographic everything is calculated with Gold price at $2000/oz. When Gold reaches $3110/oz, 1 oz of Gold & a $100 bill will have equal value in weight and it won’t matter if you have 1oz of $100 bills or 1oz of Gold. Gold is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.   Gold – Size Chart This is a chart of standard Gold bullion size comparison. The cubes are measured by volume & Gold weight of 19.30 g/cm?3. The plates are typical Gold bar dimensions of same Gold weight. 1 Gram of Gold Photo Example 10 Grams of Gold Image of woman Holding 10 Grams  20 Grams of Gold 5 Grams of Gold 1oz of Gold( 1 Troy Oz = 31.103 grams) 50 Grams of Gold 250 Grams of Gold 100 Grams of Gold 500 Grams of Gold 1KG of Gold   There’s surprisingly little Gold in the world & this infographic shows all the Gold ever mined. In this Gold infographic everything is calculated with Gold price at $2000/oz. Gold – Visualized in Bullion Bars There’s surprisingly little Gold in the world & this infographic shows all the Gold ever mined. In this Gold infographic everything is calculated with Gold price at $2000/oz. When Gold reaches $3110/oz, 1 oz of Gold & a $100 bill will have equal value in weight and it won’t matter if you have 1oz of $100 bills or 1oz of Gold. Gold is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.   Gold – Size Chart This is a chart of standard Gold bullion size comparison. The cubes are measured by volume & Gold weight of 19.30 g/cm?3. The plates are typical Gold bar dimensions of same Gold weight. 1 Gram of Gold Photo Example 10 Grams of Gold Image of woman Holding 10 Grams  20 Grams of Gold 5 Grams of Gold 1oz of Gold( 1 Troy Oz = 31.103 grams) 50 Grams of Gold 250 Grams of Gold 100 Grams of Gold 500 Grams of Gold 1KG of Gold   There’s surprisingly little Gold in the world & this infographic shows all the Gold ever mined. In this Gold infographic everything is calculated with Gold price at $2000/oz. 400 Troy Oz of Gold 999.9 (more…)
Jul 212015
 
Cryptocurrencies are the first self-limiting monetary systems in the history of mankind, and could be our greatest chance to check the growth of political power since the Magna Carta. Cryptocurrencies could be greatest revolution in human history, and the foundation of a truly free and prosperous planet. There’s a lot to say, but hopefully I’ll make the case here. Bitcoin is great technology and the premiere example of the coming crypto-technical world, global commerce by cryptocurrency. . Cryptocurency is genius. The public ledger of value transfer and information copyright, deeds, wills, almost anything you can think of can be implemented in the Cryptocurrency architecture. It is one of the greatest economical innovations in human history. As business interests and financial interests gained more presence in the government the voice of the people became more distant. This country became an oligarchy. It’s a government in which the wealthy class rules. It’s a modern day plutocracy. We all know this to be true and my position is that it is the fiat currency that enables this tendency in most governments and it is the politics of the fiat currency that make an oligarchy. It is cryptocurrency that can stop an oligarchy and stop a lot more besides. How is cryptocurrency a solution? What was the original money historically? Solid gold is the correct answer. Aristotle defined money as having five characteristics. It had to be portable. It had to be long-lasting and not perishable , It cannot lose its value. It had to be divisible to smaller denominations and be reassembled to primary denomination, and it has to have intrinsic value. The most important characteristic of money, intrinsic value, is that it is limited. Gold has those properties. It lasts long. You can slice it up. It retains its value. You can reassemble it and it has intrinsic value because people historically have come to value it. It’s has thousand of years of perceived value. Cryptocurrency has the same characteristics as gold, except of course, it’s digital. Cryptocurrency is divisible. It is portable. It will last as long as it is used. Once established it will not lose its value. A cryptocurrency only has value in its exchange – it has no inherent value – this is precisely the same as with a ‘conventional’ fiat currency. A dollar is only actually worth what someone is willing to give you in exchange for (more…)
Jan 092015
 
My point about gold and silver is that throughout the history of mankind’s commercial interaction, they have been money. Every attempt to do away with them as money has failed as indeed the current attempt will. In 1971 the dollar was worth one thirty-fifth of an ounce of gold now it’s worth about one 1800th of a dollar. The dollar has lost a lot of value and so there is a lot of risk attached to the dollar. I’d rather own gold than own a paper currency because at least I know that the supply of gold continuously grows by no more than one or two percent a year. Where as the supply of a paper currency can grow infinitely if the government wants it to. There’s no limit on how many zeros the government puts on the bill it’s creating. Gold is holding its value. Today gold can buy the same goods and services that it did 10 years ago. If you had ten thousand dollars in the year two thousand, could you take that same ten thousand dollars today, even after a recession, and buy the same goods and services, you can’t. A dollar today is a dollar tomorrow the dollar value is not going to change but what changes is the buying power, what can you buy with it. I think over time if you compare the purchasing power of the dollar or any other fiat alternative for that matter to gold, gold wins. Gold is a better store value and it protects your purchasing power better than fiat currencies Gold and silver may not be official currencies, but they are still the only real and honest form of money. Protect yourself and your financial security. Buy gold and silver now, there is nothing like having these metals in-hand. Buy Gold & Silver Online & Get Free Shipping At CBMint.com! Safe, Secure Transactions! Click Here! Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Dec 302014
 
Our growing national debt is like being a passenger on the Titanic, and trying to change directions to do spending reform is almost impossible. We are going to crash. The citizen taxpayers of today and tomorrow are stuck with the bill and with ever increasing crushing debt obligations. We seem able only to watch helplessly as political leadership in Washington DC continues expanding government obligations — borrowing what they can and simply printing what they cannot. Each day more Americans understand the money bubble will burst, its coming. Our government is increasingly insolvent. The “global reserve dollar” is becoming less used for trade and “the Petrodollar” to be preferred less, and it may not survive at all. The Federal Reserve problem is delusional, they live in the world of dishonest money. FED officials are free to print as many dollars as they wish, the more they print the less purchasing power the dollar has. End the end, the purchasing power you had yesterday is not here today, that loss comes directly from your savings. Real money in the form of “metal-in-hand”, that is, physical precious metals, gold and sliver is a solution. Gold and sliver coins, bars, and rounds represent value that cannot be inflated away. In the long run, no other asset offers the same track record — particularly during turbulent times. Families who save using private, portable, and enduring gold and sliver have been passing wealth from one generation to the next for literally thousands of years. History shows, investments in precious metals do more than simply hold value; they produced real profits. We are likely living in the next of these periods now. Inflation is a worldwide phenomenon forcing entire populations to look for alternatives to the paper in their wallets. “What’s in your wallet”. As more and more people turn to real money, gold and silver, personal purchasing power will rise – it will be amazing — as people bid more aggressively for available stocks. Now is a particularly opportune time for wise people to invest in themselves and buy physical gold and silver coins and bars — both for protection and profit. In every instance of fiat currency collapse, throughout history, gold and silver immediately became “the money”. Why, for the time being, you can exchange your paper currency for real money, gold and silver, by making a simple and direct purchase. A person with (more…)
Dec 182014
 
Submitted by John Rubino via Dollar Collapse blog, To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn’t an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price changes in local currency terms that says more about the local currency than about gold. But when currencies collapse, gold shines. Consider the above from the point of view of a typical Russian. The ruble is tanking (no need to understand why — all fiat currencies go this way eventually and the proximate cause is almost irrelevant). Russians who trusted their government and kept their savings in, say, a bank account, are losing their shirts. But those who own boring, doesn’t-pay-interest, in-a-bear-market gold have seen their capital appreciate in local currency terms by about 60 percent in just the past month. They’re not “making money,” but they are preserving wealth. This is how it has gone always and everywhere when governments have destroyed their currencies. In the Roman Empire, revolutionary France, revolutionary America, most of Latin America in the 20th century, and now big parts of the developing world, local currencies evaporate but gold just sits there, buying the same amount of stuff as ever, impervious to the games governments play. It won’t be long before this chart is replicated in a whole lot of other places. But by then it will be too late to prepare. The gold will be gone and those who trusted their governments will have to make do with promises. Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Nov 192014
 
  Submitted by GoldCore on 11/19/2014 12:13 -0500 Gold Rises After Unusual Russian Central Bank Gold Buying Announcement Russia’s central bank bought about 150 metric tons of the metal this year, announced Governor Elvira Nabiullina yesterday. The pronouncement immediately created buying in the market, prompting gold to rise to a two week high at $1,200 an ounce. Head of Russian Central Bank Elvira Nabiullina -Jr/Bloomberg Russia’s central bank Governor Elvira Nabiullina told the lower house of parliament about the significant Russian gold purchases. She is an economist, head of the Central Bank of Russia and was Vladimir Putin’s economic adviser between May 2012 to June 2013. This announcement is unusual and to our knowledge has not happened before. The announcement by the Russian central bank governor was likely coordinated with Putin and the Kremlin and designed to signal how Russia views their gold reserves as a potential geopolitical and indeed financial and currency war weapon.  Gold currently constitutes for around 10% of the bank’s gold and forex reserves, she added. Official purchases were about 77 tons in 2013, International Monetary Fund data show.MARKET UPDATE Today’s AM fix was USD 1,200.75, EUR 957.61 and GBP 766.08 per ounce. Yesterday’s AM fix was USD 1,202.00, EUR 959.68 and GBP 767.81 per ounce.Gold climbed $10.40 or 0.88% to $1,196.80/oz yesterday. Silver rose $0.06 or 0.37% to $16.22/oz. Gold remained firm at $1,200 an ounce as the market digested very robust Russian central bank demand and announcement and await next week’s Swiss gold referendum and later today, the U.S. Federal Reserve minutes at 1900 GMT.If the Fed increases interest rates it could hurt non-interest-bearing gold in the short term. However rising interesting rates are more bearish for stocks and bonds as was seen in the rising interest period of the 1970s when gold prices surged.The Swiss gold referendum is around the corner on November 30th and if passed this could force the Swiss National Bank to keep 20% of its holdings in gold bullion, force the SNB to repatriate gold holdings and end all gold sales.The dollar hit a seven-year high against the yen today. Silver was up 0.5%  at $16.24 an ounce. Spot platinum was up 0.5% at $1,206.65 an ounce, while spot palladium was flat at $769.98 an ounce. Shares fell in Europe and Asia on Wednesday while the dollar rose broadly, hitting a new seven-year high against the yen, as investor nervousness on the (more…)
Dec 132013
 
Chinese yuan dominates global bitcoin trade Tuesday, 03 December, 2013, 1:10pm Business›Banking & Finance CURRENCIES Patrick Boehler patrick.boehler@scmp.com With the digital currency’s value rising sharply, 58 per cent of day’s global volume done in yuan as non-professionals wade into new market The yuan accounts for most of the trade in bitcoins as trading of the unregulated digital currency soars in the world’s second-largest economy. By noon yesterday, about 58 per cent of the global trade during the preceding 24 hours occurred on exchanges trading the mainland currency, according to open-source research project BitcoinAverage [1]. A Bitcoin logo is seen at the window of a restaurant that accepts Bitcoin, a form of digital currency, as payment in San Francisco. Photo: Reuters[2] According to the aggregator of market data, China’s trading volume in the period reached 827 million yuan (HK$1 billion). Trades in US dollars account for roughly 37 per cent of global volume. Trades in euros account for slightly less than 2 per cent. No other currency accounts for more than one per cent of trade, according to BitcoinAverage. Fortunes have already been made in China via the virtual currency. The value of a bitcoin in China soared 861.02 per cent from 844.75 yuan on September 3, the earliest data available on BitcoinAverage, to its peak value last Friday of 7273.47 yuan. The virtual currency was trading at between 6,300 and 6,400 yuan on Tuesday morning on major Chinese exchanges. Unlike with previous virtual currencies, China’s deputy central bank governor Yi Gang said last month that bitcoins could be freely traded, although the government would not accept them as currency.  A provincial subsidiary of state-run China Telecom even said it would accept payment in the virtual currency. Jiangsu Telecom said last week it would accept the virtual currency for pre-orders of a new Samsung phone[3]. “China is driving the volume predominantly for two reasons: speculation and mining,” said Zennon Kapron, managing director fo the Shanghai-based financial advisory firm Kapronasia. “Returns on Bitcoin this year have surpassed real estate which previously was the best performing mainstream asset class in China, which has naturally attracted more attention and further driven the price up.” Kapron said it was natural for China, the world’s biggest manufacturer of bitcoin mining equipment, to play a large role in the trade. Li Lin, head of the Beijing-based Huobi trading platform, told the Beijing Morning Post last week that the majority of new bitcoin (more…)
Jul 132011
 
Federal Reserve Chairman Ben Bernanke today said that the Federal Reserve is prepared to act with an additional round of quantitative easing if there is any weakening of the U.S. economy and threat of deflation. Bernanke also said that the Fed could act in other ways to stimulate the economy, such as cutting the interest rate that the Fed pays to banks on their $1.5 trillion in excess reserves that they currently keep parked at the Fed. NIA believes this $1.5 trillion alone would multiply into $15 trillion once it circulates through the U.S. economy and if Bernanke on top of that unleashes any additional quantitative easing, it will just about guarantee hyperinflation. Bernanke has made it very clear that he is prepared to print money until the U.S. dollar becomes worthless and the incomes and savings of all U.S. citizens are destroyed. Ron Paul today asked Bernanke whether or not he watches the price of gold and if he thinks gold is money. Although Bernanke admitted that he does watch the price of gold, Bernanke said that gold is not money, but it is only an asset. Bernanke explained that central banks only hold gold as a “tradition”. The truth is, gold has been accepted as money throughout all civilizations over periods of thousands of years. Bernanke doesn’t want U.S. citizens to wake up and realize that they can opt-out of the criminal Federal Reserve system if they get rid of their U.S. dollars and store all of their wealth in gold and silver. To see a video of Ron Paul’s exchange today with Bernanke, simply visit our blog at: http://inflation.us/blog/2011/07/video-of-ron-paul-asking-bernanke-if-gold-is-money/ The U.S. Constitution defined gold as legal tender and the current fiat currency system we have today where Bernanke can steal from the purchasing power of the poor and middle-class and redistribute this wealth to his banker friends on Wall Street is unconstitutional, immoral, and illegal. The U.S. dollar originally only had purchasing power because it was backed by gold. Today, the U.S. dollar is a fiat currency that is backed by nothing. Any remaining purchasing power the U.S. dollar still has is just an illusion and will soon evaporate due to Bernanke’s actions. In order for an item to function as money, it should be liquid and easily tradable, easily transportable, and durable. It should be divisible into smaller units without destroying its value and should also be (more…)
Jul 112011
 
Kalen Smith, provided by Thursday, June 30, 2011 Gold is one of the most widely discussed metals due to its prominent role in both the investment and consumer world. Even though gold is no longer used as a primary form of currency in developed nations, it continues to have a strong impact on the value of those currencies. Moreover, there is a strong correlation between its value and the strength of currencies trading on foreign exchanges. To help illustrate this relationship between gold and foreign exchange trading, consider these five important aspects: 1. Gold was once used to back up fiat currencies. As early as the Byzantine Empire, gold was used to support fiat currencies, or the various currencies considered legal tender in their nation of origin. Gold was also used as the world reserve currency up through most of the 20th century; the United States used the gold standard until 1971 when President Nixon discontinued it. One of the reasons for its use is that it limited the amount of money nations were allowed to print. This is because, then as now, countries had limited gold supplies on hand. Until the gold standard was abandoned, countries couldn’t simply print their fiat currencies ad nauseum unless they possessed an equal amount of gold. Although the gold standard is no longer used in the developed world, some economists feel we should return to it due to the volatility of the U.S. dollar and other currencies. 2. Gold is used to hedge against inflation. Investors typically buy large quantities of gold when their country is experiencing high levels of inflation. The demand for gold increases during inflationary times due to its inherent value and limited supply. As it cannot be diluted, gold is able to retain value much better than other forms of currency. For example, in April 2011, investors feared declining values of fiat currency and the price of gold was driven to a staggering $1,500 an ounce. This indicates there was little confidence in the currencies on the world market and that expectations of future economic stability were grim. 3. The price of gold affects countries that import and export it. The value of a nation’s currency is strongly tied to the value of its imports and exports. When a country imports more than it exports, the value of its currency will decline. On the other hand, the value of its currency will increase when (more…)