First Ever Debit Card Backed by Gold in Real Time

Posted by ProjectC 
<blockquote>'First Ever Debit Card Backed by Gold in Real Time


Transactions in gold and settlement in gold, in real time are now possible.


I still view gold as money. Widespread acceptance of a BitGold card will go a long ways towards alleviating any doubts and disagreements some have over this issue.

My intent is not to use BitGold for major purposes as I believe gold is to be accumulated over time, and a core position held at all times. Yet, I do intend to use the card occasionally as I want to encourage merchants to accept the idea that gold is money. Once merchants become convinced that the price of gold has bottomed, many will choose to hold a percentage of their profits in gold.

Moreover, merchants will like the idea because BitGold does not have processing fees. It does have fees for exchange to other currencies, but those fees are lower than normal processing fees.'

- Mike "Mish" Shedlock, '..Why BitGold?' June 26, 2015</blockquote>


<blockquote>(Banking Reform - English/Dutch) '..a truly stable financial and monetary system for the twenty-first century..'

'..the theorem of the economic impossibility of socialism .. is fully applicable to central banks..' - Jesús Huerta de Soto

Malaysian Province Moves To Gold And Silver-Based Currency In "Main Islamic Event Of The Last 100 Years"

Oklahoma Recognizes Gold and Silver Coins as Legal Tender - '..promoting sound money..'

The Ethics of Money Production - '..the care of souls.' - 'The point is to return to a universal respect for property rights.'

(Praxeology) - 'Economics .. is about human choice and action.' - '..books by Mises, Rothbard and Hayek are already translated .. online bookstore in China..'

'Jürgen Stark .. says "The System is Out of Control".'

'..memorable peers that include 1906, 1929, 1937, 1966, 1972, 2000 and 2007 .. this moment as historic..'</blockquote>