"Liquid Gold" ... wtf?

Discussion in 'Gold' started by rbaggio, Jan 15, 2011.

  1. rbaggio

    rbaggio Active Member Silver Stacker

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    Anyone have any idea what this ebay item is all about?

    230574166965
     
  2. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Bam!! there it is, buried in the 3rd last paragraph;

    "The manager will make a margin on every ounce of gold it holds on deposit for investors."

    To be fair, this is an innovative business concept and just shows how resourceful some entrprenures are, but I think it will only be viable when the westies and bogans are using this service to boast they're gold investors in a gold-mania phase.

    What it does reinforce is how important holding physical bullion is. No brokerage fees, no management fees and definately no counter party risk!
     
  4. loki.verloren

    loki.verloren New Member

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    running a gold warehouse (also known as a bank) is a viable future business as the experiment of fiat comes to a fittingly chaotic end. it is not a given that anyone operating such a business is a scheisster... however for the most part red tape is gonna strangle the emergence of such business in most places, i'm not sure how it can, or if it will, or if there is such red tape existing, but knowing how governments work if there isn't red tape yet, there will be soon. the lack of it doesn't help with stopping the dodgy brothers operators but it's not like it was even in the early 00's, reputation acquisition in the days of facebook happens pretty fast.

    i personally have been considering the many business opportunities that present in the situation of the transition from fiat to commodity currency... i don't know which to take seriously, of course brokering is probably the hottest trade right now, but that naturally can expand into other fields so easily.
     
  5. Austacker

    Austacker Active Member

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    How is this any different than a Paper based holding ? What you get a credit card to spend your Gold and then rewarded for spending with more Gold instead of an inflated points system... Or did I miss something.

    As they say there are no free lunches.
     
  6. mickjohn

    mickjohn New Member

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    I like it. I wont be partaking. But I think its a pretty smart venture. Listing it on ebay though, instant loss of credibility.

    A microcosm of a gold backed currency accessed by data transfer into fiat whenever you want. As long as the commision isnt too hefty....
     

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