I know for a fact there was a gold bank in Dallas Tx.
Deposit $100k of dollars or a few bricks of gold and you have $100k worth of either in your account. Drive over and make a withdrawal of cash or physical Gold. Put in a pound of gold, you always can take out that pound. But $$ value is always changing.,
Eliminate selling to a coin shop or pawn shops and get bent over.
Tony Beets even said all his gold goes into a gold bank.
As gold prices go up or down, so does your account.
It eliminates the middleman. Now the Government can come in and confiscate like they did back in 1920s.
Only works if you have great wealth to protect.
I’m far from that. So I just buy some physical a few times a year and it sits in my safe. Just enough to pay off my house if the dollar crashes. I rolled all my debt into a fixed rate below 3% for the next 30years. I welcome Bidens inflation. But if the dollar dies, I got my back up. What I stew over, how high can gold and silver go if the dollar becomes worthless? How much metal should you hold today as it’s pretty much flat. Bullets will be more valuable at that point.,
How much Silver per every $10k in debt should you hold today?
I think throwing in cryptos into that scenario muddies the crystal clear water.
To make a gold back crypto, someone has to pony up the gold.
Russia could do it. But Soros would buy up the coins and drain Russia’s gold. You could never get physical gold for a coin. There would have to be a transfer into a fiat currency.
A crypto back gold coin has been tried. I think it stayed flat while Bitcoin would cruise 20-200% a day., Thise days are long gone. Sort of like Ben parking a $500m company assests into AESO. That run is done on the news. Your going flat till they build the Company..
I know a guy that bought $20k of Bitcoin very early. He banked. He also already had owned a citation jet. Just another day for him.,
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