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gozinsa

2,213 Posts.

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23/03/19

12:13

Post #: 37861204
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Originally posted by slay22: ↑

Imo the new gold standard will be compatible with the 21st century's modern way of life and will have an electronic form, probably with banks using blockchain technology and maybe paper just backed by gold. The Canadian Mint are already using this technology for trading gold that is physically redeemable through Vaultchain (blockchain technology).

The banks will still control the monetary system as they will hold the lion's share of gold and will be able to control a monetary reset. Basel III is changing gold to a 0% risk asset for the banks along with cash (because gold = money). Also Basel III and IV is increasing the percentage of assets required to back bank loans, expect some banks to fold over the next couple of years. Banks will soon have incentives to hold more gold, all important preparation steps for a gold backed standard... It's coming

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Of course you're right, just like coins and notes are being phased out by electronic systems. The means of exchange is completely separate to the monetary system. You'd have to be a complete imbecile to think otherwise.
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