The American Empire in a Changing World


Wednesday, November 21, 2012

Freegold: ''Gold bubble or new monetary paradigm?''

a MUST READ...................From Bullion Baron

''Freegold, not FREE Gold (sorry to disappoint!). Freegold (or Reference Point Gold, RPG) is an environment where Gold is set free from the bounds of a fiat price, where it is used solely as a store of value and reference point for all other currencies. The 'price' of Gold floats freely in all currencies or as defined on Wikipedia:''

''Freegold derives its name from a monetary environment where gold is set free, and has no function as money. Gold is demonetized, and has one function only: a store of value. The function of legal tender changes only slightly: it is a medium of exchange and unit of account, but stripped of the store of value function. In this environment, currency and freegold will coexist to supplement each other, without interacting with each other.''

read more 

No comments:

Post a Comment