RE: Gold as the safe haven during the coming financial storm
Hello dear @julianhorack.
We must ask ourselves: why the gold of other nations is in the USA?
A little history:
Between 1921 and 1924, the worst hyperinflation occurred in Germany as
consequence of the suspension of convertibility of German marks
to gold since Germany had to pay the huge costs and debt of the
First World War. Germany had to borrow an amount
immense amount of money, and this caused a tremendous devaluation of the Framework
against the US dollar. The devaluation then accelerated after the
Treaty of Versailles and the London ultimatum, which basically demanded
Germany to pay massive repairs in gold or in foreign currency.
Origin [True Gold Coin White Paper] (https://www.truegoldcoin.com/GOLD%20BACKED%20ICO%20WHITE%20PAPER%20-%20SPANISH.pdf)
The fact of owning the gold as you raise it:
"... 2020 will be a decisive year, with the US elections, and instability as the new norm in half of the countries of the world, so buy gold and do not leave it in the bank. it's the only way to guarantee your safety as an investor in raw materials, it's as simple as that, if you do not hold it, do not control it. "
I do not think it's the most practical. Although it could give us more control. But we would have to face the risk of theft. The greed of the human being can be very dangerous.
There are many companies that are applying blockchain technology to the possession of gold by issuing backed tokens.
All best, Piotr.
Hi there Piotr,
good to hear your insights, much appreciated.
Gold history is fascinating, wrapped up in politics and economics.
I kniw what you mean about possible theft if you keep gold at home. I would bury it in the garden for safety. Here in South Africa crime is such a huge problem that nothing is safe unless all your windows have bars and you keep big dogs lol.
Good to hear that there are gold backed tokens. Is that perhaps Digix DAO - I think it may be backed by gold. Or DAI, something like that. I will investigate. Also a new token was launched recently backed by silver called Monarch, with a wallet to download.
Thanks for keeping me informed. I will read the link you posted.
Best wishes from
Julian