uppy: then we dont need the banks!!!!
Yep... Would certainly be the next idea for a money transfer system. A friend and I at work today were discussing it.
If you opened a site like paypal where people could buy and sell gold and books and other merchants could buy and sell gold it would seem you would be flawless. How would the US government tell you you cant sell gold??? Gold is sold to some of the biggest criminals in the world and no one has ever stopped it.
Sean
If you opened a site like paypal where people could buy and sell gold and books and other merchants could buy and sell gold it would seem you would be flawless. How would the US government tell you you cant sell gold??? Gold is sold to some of the biggest criminals in the world and no one has ever stopped it.
Sean
I'll start. If you were to send $6800 (10oz Gold) to a book. You wager for a while and you break even at $6800 and request a payout of your $6800. But gold has dropped in value to say $580 per oz. The book would have to send back way more than the 10oz you had originally sent. So not only would the book be in the business of booking bets but also forced to hedge their post up cash (gold).
Unbelievable ... I and others have been agitating for years to try to get sportsbooks and bettors to embrace gold payment systems (no need to start one -- there are several already.) Despite advantages over bank-linked systems like PP and Neteller, everyone consistently shit on the idea. Now that the bank-linked systems are all folded up or barring gambling, it's an idea worth discussing. Welcome to 2001 guys! Did you hear about Enron?
Phaedrus
Phaedrus
If we pull out of Iraq, the dollar is going to collapse even further.
I spoke with some very intelligent currency traders Friday night, and they are convinced the only reason the US is in Iraq is the oil. They are also convinced that the only reason China continues to lend to the US is because they know if/when we can not pay our debt, it is now collateralized by oil since we control a huge country full and don't really like IRan much.
-sean
I spoke with some very intelligent currency traders Friday night, and they are convinced the only reason the US is in Iraq is the oil. They are also convinced that the only reason China continues to lend to the US is because they know if/when we can not pay our debt, it is now collateralized by oil since we control a huge country full and don't really like IRan much.
-sean
