Buy Gold Bullion | Is <b>Gold Bullion</b> A Thing Of The Past? - Liberty Metals | News2Gold |
| Is <b>Gold Bullion</b> A Thing Of The Past? - Liberty Metals Posted: 11 Aug 2014 11:33 AM PDT Customers have asked us at Liberty Metals recently about bitcoin. Our advice generally is that bitcoin and gold are two very different things, and that perhaps there is some synergy there. But, as we were going over the week's news this morning at Liberty, something interesting came across our desk. In an article appearing in Forbes entitled, "A Crypto Currency Backed By Gold? How Retail Gold Investors Can Benefit From Bitcoin's Technology," Jan Skoyles, CEO of The Real Asset Company, laid out his vision for a new type of gold bullion. His company provides a platform for retail investors to get into gold bullion. His firm, essentially, represents wealth-management 2.0, offering an alternative for the retail investor. Jan wrote her dissertation on the importance of precious metals to the monetary system, in which she argued that historically unbacked currencies last merely 48 years, and always end up going back to precious metals markets. Buying gold is considered a safehaven purchase by mainstream western financial investors, though it is an increasingly popular trend in countries throughout the world, like China, India and Russia. The Chinese and Indian middle classes are new, and being more in tune with the temporary-nature of currency markets, are more inclined to protect their savings with precious metals, in particularly gold and silver. 'People don't like to think about the fact that once you have deposited your money into a bank account, it is no longer legally yours", Jan explains, "as more people realize this they are encouraged to divert their funds elsewhere… "The lack of real alternatives when it comes to depositing excess cash is what props up the existing banking system, but Bitcoin technology and gold can complement one another. I often hear people discussing their finances, bemoaning the fact that rates of interest are going up, "but what can you do?" they shrug. A gold-backed currency is an alternative way to diversify your savings." As we can tell in the charts below, gold has been a stabler currency than bitcoin.
Her platform enables investors to purchase gold bullion outside of the financial markets, but there is a major issue. When you buy from The Real Asset Company you are buying bullion that you yourself will not store. This is one of the main reasons to buy gold bullion – you get to hold onto it yourself. With the crypto-gold bullion, you will be trusting warehouses in London, Singapore and Geneva. Her vision is to bring gold into the 21st century, and we believe this is an important step for gold bullion, but, ultimately, if you cannot hold the gold yourself, then you don't own it. We wish the company all the best, but we at Liberty will continue to purchase physical gold and silver bullion as the ultimate hedge against inflation, economic crisis, and even fraud.  |
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