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Your Money in Transition

A series of 1934 $100,000 gold certificate. This is the highest-denomination note ever issued by the United States. These notes were only used in transactions between Federal Reserve banks up until the early 1960s. The largest notes ever to circulate publicly were $10,000 gold certificates and Federal Reserve notes.

A bill authorizing gold and silver as legal tender passed the statehouse and with the governor’s signature will become law. This pushback against the Federal Reserve was truly a bottom-up effort, initiated by a group of activists and two freshman legislators keenly aware that the debt-based dollar is a significant drag on the U.S.

Are precious metals really a good protection of wealth in a hyperinflationary and taxed regime? Does an "inflation tax" wipe out most of the gains one could stand to make by investing in precious metals while a currency collapses? Are additional strategies required to realize appropriate gains from metals speculation?

'The South Carolina General Assembly finds and declares that the State is experiencing an economic crisis of severe magnitude caused in large part by the unconstitutional substitution of Federal Reserve Notes for silver and gold coin as legal tender in this State.

Most science fiction is silent on the issue of money. Usually characters swap nondescript digital “credits”. The currencies of the future must combine the stability of precious metals, and the fluidity of digital exchange.

The issue is whether Bitcoin will ever be so widely adopted that it acts like a real, stable currency. Right now, it’s more like a commodity with wild price swings on rumors, articles, anonymous chat-board postings, and well-publicized problems with theft. Most people should wait at least until those issues are resolved. Generally, however, average folks shouldn’t be making direct forays into currency trading; Bitcoin feels a bit like online investing, but it’s more like diving into foreign exchange with even less information on which to make currency calls.

In the town of Braintree Massachusetts you must be 21 years old to sell precious metals to a dealer and the dealer must wait 30 days before selling acquired precious metals to a refinery. Do they realize how much the price can swing in 30 days? Not to mention the use of gold and silver is specifically authorized in the Constitution, which I would agree is a worthless piece of paper.

Already bigger than many sovereign currencies, Bitcoin has broken the $1 billion in value mark this week. In the wake of continuing economic crises and liquidity shortages, this new virtual currency is poised to challenge the euro and US dollar.
By not being tied to any particular financial institution and independent from world governments, Bitcoin will become a safe haven for anyone trying to save their money from the crippled international banking system, claimed Max Keiser, the host of RT's Keiser Report.

New bitcoin trading site, Coinabul.com, is now accepting bitcoins in exchange for gold. Orders are currently live during the private beta. Coinabul is the only true Bitcoin-to-Gold exchange in the world. Bitcoin is a digital stored value vehicle, able to provide near-instant transaction capability in a global Internet economy. Bitcoin users are able to trade in bitcoins to their national currency via currency exchanges, but for users who prefer to save their money in gold, Coinabul provides instant gold purchasing capabilities.