bumblethebard

Now that we are members of the inner sanctum of the Illuminati, do we get to make suggestions about the future of the world? Which governments to topple? Which presidents to assassinate? Or am I confusing you with the other Illuminati?

On an equally whimsical but more serious note, I suggest each member who wishes to contribute to the site adopts…[Read more]

When you say buy ‘tobacco’ – is that a euphemism for cannabis? I know cannabis stocks have been all the rage recently, but I’m starting to think they may be overpriced. My worry about big tobacco is that broke governments will look at them as potential sources of windfall taxes or charges to offset healthcare costs. They are an easy target and a…[Read more]

Guaranteeing that the gold holdings exist is of course a problem for any kind of vaulted gold service. At the end of the day you are trusting the provider of the service, just as you would if you used Bullion Vault or GoldMoney, or some private Swiss vault.

I am more concerned about two other problems. First, there may not be enough users willing…[Read more]

I made a post about confiscation on your other thread under Chat with Greg. I think bankrupt governments will raid your bank account first. Gold is much harder to confiscate now than it used to be. But to be on the safe side, it is not a bad idea to store some in safe jurisdictions such as Switzerland or Singapore. I would guess that if an Indian…[Read more]

Another difficulty that affects many cryptos, particularly those that use ‘proof of work’ such as Bitcoin and Ethereum, is that there is no built-in mechanism for creating price stability. With the prices of regular goods, demand and supply is a self-regulating negative feedback mechanism. If some good is in short supply, the price rises and this…[Read more]

I think the concept behind cryptos is excellent and I can understand why libertarians are in favour. They offer to provide a form of currency that governments can’t control, which is to say that governments can’t debase and corrupt.

But there are huge problems. There are too many of them. They keep forking, which reduces the level of trust. The…[Read more]

For myself, I don’t think confiscating gold would be the first option for a bankrupt government. It is just too difficult to do. There are likely to be riots and civil unrest, so the police and the military will be too busy to come knocking at your door with a metal detector. Also, if you are sensible, you are holding at least some of your gold in…[Read more]

Is there anywhere left in the world that is a good place to live? Stable, affordable, welcoming?

Most of south and central America and caribbrean – crime, drugs, poverty.
Japan – expensive, not welcoming to foreigners.
Singapore – expensive.
Most of Africa – crime, poverty, poor health care.
Scandinavia – cold, not particularly welcoming to…[Read more]