Gyroscopic Investing

Sounds like an interesting idea. Whether this specific implementation is the one that will catch on is unknown at present, of course.

http://www.mountainvision.com/en/update ... al-system/

Nothing new here.  E-gold was offering the same since the late 90's and it turned into nothing but a money-laundering scheme for fraudsters.  The Fed's eventually shut it down.

Gold is not money.  It never will be again.

From the article:

The main benefit of this payment system is the fact that it appears to be 100% backed by physical gold.

Not for me!  One of gold's biggest positives is last resort financial security.  I don't really want it only accessible digitally and stored outside the country when I might actually need it most.

Libertarian666 wrote: That claim is against thousands of years of history, so I assume you have convincing evidence for why it is different this time?

I think you're confusing a medium-of-exchange with a store of value.  What about the enslaved little girls, seashells, trinkets, cows, etc. that were used for thousands of years?  Money is whatever people want it to be.  A store of value is a different concept.  Gold still serves that role when money is unreliable.

MachineGhost wrote:

Libertarian666 wrote: That claim is against thousands of years of history, so I assume you have convincing evidence for why it is different this time?

I think you're confusing a medium-of-exchange with a store of value.  What about the enslaved little girls, seashells, trinkets, cows, etc. that were used for thousands of years?  Money is whatever people want it to be.  A store of value is a different concept.  Gold still serves that role when money is unreliable.

I'll be happy to consider anything money that has served that role for as much of history as gold has.
Unfortunately, I can't think of anything that fits that bill; certainly paper "money" doesn't come close, and many people have found out how worthless that becomes when the government that issues it goes under. The same cannot be said of gold.