Banks are going to be essential participants in the final emergence into use of Paper Bullion Bank Bills. But bankers may lack the imagination required to pioneer the new currency. I may have to look to companies that have exploration and daring in their corporate DNA and in the spirit of their operations.
Gold miners, have a strong interest in all forms of gold bullion that might be adopted and widely used in this world. Paper Bullion Bank Bills are the newest and most innovative way to open up the bullion market, and give miners continuous strong demand for their gold product.
In the meantime, whole generations of people in USA have failed to save for or plan for their retirement. They need a new chance. Paper Bullion Bank Bills are an investment in the idea of having some buying power 30 or 40 years from now, when social security and medicare are just memories known only to historians.
Gold has given buying power to its possessors for at least 10,000 years in this world. Maybe longer, in ancient India and Egypt.
A young person today who buys one Paper Bullion Bank Bill per month, say at the 1/10 oz denomination, and pays a bit more or less than $130.00, depending on the gold price, every month, will be giving themselves some buying power when they retire. In 1938, a one ounce gold Deutchmark would buy an entire block of downtown Berlin. Nobody today has any way of knowing how dollar denominated investments or retirement funds will be valued 40 years from now. Your annual payout from such sources might just be enough for a single can of tuna fish, or one week’s rent.
The government of the USA is $22 Trillion in debt. The service costs on that debt are a substantial part of the Federal budget. There are three ways to get rid of that debt: pay it down, repudiate it, or monetize it. Monetizing it just means printing dollars and using those paper money dollars to pay off the debt. Zimbabwe, Argentina, Venezuela are names that may or may not ring a bell in your mind, but most of use know about the wheelbarrows of paper currency that were needed in Germany in 1938 to buy as loaf of bread.
Please want to know more, and visit me here at robertfentongary.com where I have posted many articles on Paper Bullion Bank Bill and will continue to keep you updated.