Tuesday, August 23, 2011

PayPal to create new virtual gold standard

Gold bars © fintag

News comments:
OK, its not strictly true. But it may come true.

Gold is the new world currency. Unlike oil or other speculative commodities, there is something about this bling of choice that attracts frightened money. Gordon Brown, the ex prudent PM, sold half the UK's gold reserves at around $300 during 1999 to 2001. A great trade. But that is history.

What the future will hold is a new PayPal currency pegged to gold. Why not? My UK peanuts are worthless compared to that really sound currency the Yen. And the Swissie.

Today's shorts:
Brown makes a bad trade (times)

Today's longs:
Goldman prep up for legal action (telegraph)

Gold rolex wearers to be taxed.


Mark Herpel said...

PayPal and gold? Never happen, but thankfully for the past decade we already have plenty of great Digital Gold Currencies such as www.goldmoney.com www.pecunix.com and others.