Originally published at: NEWS AND VIEWS FROM THE NEFARIUM MARCH 20 2025
Podcast: Play in new window | Download (Duration: 12:21 — 17.0MB)Utah authorizes a bill allowing vendors to accept gold and silver in transactions… but there’s a catch and you know what it is: New Utah law allows state vendors to be paid in gold and silver
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Gold trap is an interesting term. I agree with your comments about how the state bullion / currency initiatives are going. I would offer a few thoughts to ponder though:
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Counterfeiting - the states aren’t currently in a position to print physical notes that aren’t easily counterfeit-able. Criminals (stateside, and/or abroad…some even nation states) would quickly start to empty the vaults with counterfeit certificates.
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Trust - The China gold certificates from the 1930s come to mind. Say the state bullion treasury issues certificates - I’m talking bearer bond type certificates rather than currency increment notes. What’s to keep them from declaring that the certificate they provided you is a fake and deny you receipt of your bullion?
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Transaction Legality - Declaring precious metals legal tender for any lawful transaction seems like a great idea to the citizen (at whatever valuation the buyer/seller deem appropriate at the time of the transaction as you suggest). Trouble for the state is that they don’t have a dollar denominated value to tax you on. It may be at the root of why they’re setting things up the way they are.
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Good points all! Thank you for posting them!
… all of these types of “initiatives” will ALWAYS only be set up to benefit those who set them up and will ALWAYS screw any one who attempts to use them. Unless you can somehow get in on the “ground floor” they will ALWAYS prove to be yet again nothing but a different kind of Ponzi scheme for members of a Club that you and I are not members of and never will be.
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Agreed, it’s always been that way, and skimming on currency those who hold the most of it or have the right to mint it, was always a case since inception of the coins as currency. Nihil novi sub solo.
There is an account on X.com I follow.
ȺɾìҽӀ@Prolotario1
I am not sure what to make out of this guy yet. Some of the info he posts are in a range of “falling down from the branches of HOS into an abyss”, but sometimes the scoops he gets are very intriguing.
He is on the case of new Iraqi dinar, that will be block chained and backed by gold. It is a project backed by US intel.
Purposes for this new currency most likely are:
- Beta test for rest of the world
- Stopping China from closing on influence in ME
3.Stopping largest counterfeit US dollar printing operation that is going right now in Iran
The development is definitely worth following.
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An interesting X account, agreed. And there are dissenting voices allowed/present. I like the comment by ‘Tape’ .
“Crypto was created by NSA as a covert way to introduce CBDC. Over time the blockchain grows so large that individuals can’t afford storage, at which point it effectively becomes centralized.”
I’ve not previously heard the comment about blockchain storage size/cost. It perhaps dovetails with creation of the datacenters we’ve been discussing on other threads.
I’m open to new solutions. We definitely need some. Crypto is in it’s infancy and nefarious hu-mans are already finding ways to defeat it (decryption, backdoor robbery of wallets etc.). Another way that unless prohibited worldwide by law (unlikely) is the creation of trading markets where futures can be manipulated. There was a time before there were gold futures markets, oil futures markets, and I expect currency futures markets. As soon as a market for a particular cryptocurrency is put in place that allows futures contracts the big money players (banks, nations, NWO principals) can begin the process of using naked puts onto the value of the coins. You can already trade Bitcoin futures. I have not yet heard any bitcoin holders complain about manipulation but I would expect it’s only a matter of time.
We can hope there is a technology solution that does not too badly compromise security/freedom. But I contend the era of hu-man creativity to compromise and make parasitic profits from the crypto markets has only just begun.
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