More on Bitgold from The Financial Post, this time courtesy of Laura Stein
Peter Koven
Wednesday, May 13, 2015
BitGold founder and CEO Roy Sebag (RIGHT) and fellow co-founder and chief strategy officer Josh Crumb (LEFT). Peter J. Thompson/National Post
Roy Sebag and Josh Crumb started their business with one simple guiding principle.
“We wanted to be able to go into Tim Hortons and buy a coffee with gold, with our credit card or debit card,” Sebag said in an interview.
“It went from being a hobby of how to do that to this whole company.”
Investors will start to get a better look at their vision on Wednesday, as shares of BitGold Inc. begin trading on the TSX Venture Exchange. It is the culmination of several years of hard work by the founders, and is being backed by George Soros, Sprott Inc. and other big-name financiers. The company has a valuation of more than $30 million.
BitGold is the first serious financial services platform ever built around gold. The online service allows users to buy gold, store gold, and pay for goods and services around the world using gold as the currency. The service has been active for less than a week, but has already signed up thousands of users.
As its name implies, BitGold takes inspiration from Bitcoin. But there are a lot of questions about the intrinsic value of bitcoins. While gold has plenty of non-believers, the metal has been a medium of exchange for thousands of years.
Sebag and Crumb, who are 29 and 35 respectively, got the idea for BitGold shortly after the financial crisis in 2008. Sebag was a hedge fund manager at that time, and the collapse of Lehman Brothers made him alarmed about counterparty risk. He talked to some mentors about his concerns, and they piqued his interest in gold, which has no counterparty risk.
He never embraced the end-of-the-world ideology so beloved by gold bugs. But he saw the value of using gold as a currency, and he was surprised there was no bank fully backed by gold. He teamed up with Crumb (who has a mining background) around this time, and they got to work creating a financial platform that would make gold more accessible and an easy medium for transactions.
Other people have tried to do something like this in the past, but they were never able to overcome the legal and technical impediments. Sebag and Crumb worked with lawyers and politicians to offer this service under Canadian bailment law. They got the world’s largest bullion banks to connect to their platform, and got Brink’s Company, a leading storage and security company, to serve as clearing house for trades. Through Brink’s, BitGold can track whenever gold owned by its customers moves in and out of vaults.
“It is a complicated (structure). But for the user — and this is the main thing — it’s just Paypal with gold. It’s a nice clean interface,” Crumb said.
As its name implies, BitGold takes inspiration from Bitcoin. Peter J. Thompson/National Post
After users go through an extensive sign-up process at bitgold.com, they are able to deposit funds and obtain gold stored in vaults in six different cities around the world. After that, they can pay for goods using that gold or redeem physical gold in 10-gram cubes (worth about US$400). Brink’s handles the transfer of the gold between the two parties. BitGold plans to launch a debit card in the next month or two which can be used at any ATM or retail location. That will allow users to buy that Tim Hortons coffee with gold, just as its founders dreamed.
BitGold has a one per cent fee to buy gold and a one per cent fee to redeem it. Storage is free. The founders argued this is a far more attractive fee structure than the popular gold exchange-traded funds, which have annual fees.
Sebag, the chief executive, has been telling the Street that he has a target of 50,000 customers for BitGold. But his hopes are an order of magnitude higher than that. Based on the rapid take-up of the platform in the first few days, he said it appears to be far more than a niche product for a small group of users. He noted that hardcore gold bugs make up less than 10 per cent of the user base so far.
“I’m seeing friends who signed up sending payments to each other,” Sebag said. “I know they bet on football, and now they’re paying each other.”
Posted in: Investing, Mining Tags: BitGold Inc.
Chris, nice trade. If I had known earlier about this stock, i would probably had purchased it but time will tell. I also agree with your assessment about going long here—there’s too much hype at this time and with a move like this you in all likelihood be close to a short term top. There will be plenty of time to watch the stock and process before making a long term commitment
I love those gold cubes! Very nice.
I’ve got one on order. When I get it I’ll post a picture.
My “opinion” is that when currencies die, the only solution is going to be gold and this is the doorway. I think XAU going to be giant. I turned down a PP in Feb at $.90 and I’ve been kicking myself ever since.
This solves a whole lot of very real problems and since I was talking to Roy about this three years ago, I’ve had a lot of time to think about it. I think it’s the future of banking. It’s a PayPal for gold and I think that’s going to be really popular.
Bob I would really like you to chime in on my question and give an honest assessment.
The giant, humongous 800 pound gorilla in the room is the taxing issue that governments across the world use now, and will continue to use to subdue and even outright discourage citizens from using something like this modern gold product.
I know eventually bitgold’s stock will be listed and traded on American exchanges. Subsequently, I also know at some point in the future bitgold’s service will be allowed to be used by Americans after massive unprecedented regulation with big-brother probably placed on the company board of director.
That filthy demonic George Soro’s already has his mitts knee deep in this company so there’s your first clue where this is going. That does not happen by accident.
That’s where the real roll of the dice comes to the fore and how much trouble and hassle are real everyday people going to want to put up with to use these gold produces in the future.
If anyone thinks this will be a new panacea, you better think twice and grab a clue. I absolutely love this concept and I personally want to use the product, if it is left alone and allowed to function. But you and I know better and it damn sure won’t be allowed to do that.
The US Fed, IRS, UK all of the rest of these Marxists governments are probably already scheming with 100 PhD’s sitting in a basement somewhere trying to figure out how they can track every gram ever bought and sold so it can be taxed.
So Bob I would like you to tell me with complete intellectual honesty that the governments in all shape and sizes won’t make every sale of a gram or every purchase of a product anywhere in the world using bitgold a taxable event that you and I will need to keep track of and report every year.
I’m trying to get people to think logically about this going forward and be willing to ask the uncomfortable questions that deep inside, you already know the answers to.
What say you Bob?
V
I might just order some myself. It’s been a long while since I owned any physical but this is novel enough to get my interest.
I think hell will freeze over before US citizens and residents will be allowed to use it. Any other jurisdiction will have their own rules. It’s an interesting issue about taxation. If you are in England and have a Euro account, how is that treated for tax purposes if the Euro goes up in value? I simply can’t answer.
You need to understand one thing about me that is different than 99% of the people you know or listen to. I spent two years in Vietnam. I have zero belief in the power of governments. Individuals can always outthink governments and where a need exists, they will find it.
BitGold is PayPal using gold as a currency. Governments may hate it but when the Euro tanks, and we know it will, Greece has already defaulted; when the Euro tanks and starts the dominos falling, people will realize that buying gold with a 1% premium and selling gold with a 1% discount is one hell of a deal.
This is the biggest financial platforml I have ever seen and I think it will take off while the bureaucrats are still scratching their behinds.
The prior company to this was Loma Vista and they did a PP in 2012 and those shares came free trading on Friday so there may be some more shares coming liquid next week.
Bob,
thanks for your reply and its good to know that I’m in your 1%. Because I too have zero belief in government to do anything other than turn everything they tough to complete **** and work against the people at every turn.
You make a great point about ever allowing Americans to use the product in the future. I think you may be right on that point and I will be wrong, but I think they will allow the stock to eventually trade in US markets because even these gutless moral-less fascists in the US want to make money anyway they can so they’ll make room for it while holding their noses.
I did say in a comment yesterday that I feel this will be so big from a global stand-point that bitgold founders and shareholders won’t ever have to relent to American crony control interests and sell their soul to enter US market. They just won’t and will say its just not worth it in the end.
The Soro’s involvement is a concern but what the heck are you going to do. Everything is permeated with some kind of big brother crap and slimy investors of all ilk and color.
Always good talking to you Bob.
V
It’s not Soros who is an investor but his sons. I’m not sure how much difference that makes.
Any US broker can request an OTCBB symbol. The company does not have to list in the US, the broker can do it. When there is a US symbol it will be worth owning.
I am biased, I am a gold bug, not a gold nut, not a perm bull but I believe gold is the ultimate currency and we are going to need it soon. I think this is the biggest financial thing I have ever seen. Pity Americans can’t get into it.
How do you know Americans cannot get it, Bob? I mean is it actually impossible? Why would that be when every other offering on Canadian exchanges can be easily bought and sold by Americans?
Americans can own the stock. Americans cannot sign up for the BitGold financial services. The company does the same due diligence that any bank or broker would do. Americans not allowed due to Facta.
OK, thanks Bob. Tough break though. So its mostly a tax thing.
Bob, I’m with you brother. I agree with everything you said 100%.
take care
V
BTW Bob, thanks for the clarification on the OTCBB listing in the US. I did not know that.
V
Learn something new , everytime BOB M. decides to post……….thanks V for asking, and thanks BOB for replying………….
I guess Karatbars and Hayek will be competing with Bitgold.
This has been attempted before with e gold? Failed I guess.
Gata has an article today.
Gold at 1% over spot? Sounds good to me.
Selling gold at 1% under spot is even better. These guys really do understand just what they are doing.
I’ve some questions/comments—maybe people can give me some answers.
1. Americans can own the stock.
2. Can Americans purchase gold and store it within the system
3. When a debit card comes out and transactions are made in the future, I assume those transactions are in the currency being used and converted back to its’ price in gold and the gold stored is debited out of the gold holders account.
RD:
1. There is no restriction on owning the shares. Americans can buy the Canadian shares through Etrade or Pennaluna or perhaps through your own trading firm if they allow buying foreign shares.
2. Due to Facta and other reporting requirements for the US, the company does not anticipate allowing US residents to own a BitGold account any time soon.
3. Yes. And there is a 1% fee, that’s how they make money. Considering the ability to buy at 1% over and sell at 1% under, that’s still cheaper than any other way of buying gold and you can use your gold as money anywhere that takes debit cards.
Bob, just an quick update on Etrade. They will no-longer allow acct holders to trade Canadian stocks starting in the next few months. That option is being phased out.
North American fascist companies are not trying to open things up for the customer. They are closing it down. Less choice, less freedom, less everything.
WOW. That’s scary. You just shook me to my core. It’s not even possible to make up a reason that makes any sense financially. With globalization anyone anywhere in the world should be able to buy any stock on a listed exchange. The US is going the opposite direction.
I’m sorry Bob if there was a misunderstanding. Of course pinksheet OTCBB stocks that are Canadian you can still trade just like normal.
I just mean you won’t be able to buy Vancover and Toronto listed companies that do not trade in the US anymore through Etrade. Now their just like all the rest of the big boys. They want to keep you captured.
I was going to open an account with them just for Canadian access, not anymore.
I had an indepth conversation with a Etrade rep lastnight for about 30 minutes so I have this from first hand sources.
It looks like it will be Penntrade for this old country boy.
I’m sure they’ll still allow trading under the U.S. listing (pink sheets, etc) for Canadian companies.
I don’t know why more people don’t use Interactive Brokers where you have direct access to nearly every exchange in the world.
Etrade might just be phasing it out due to lack of interest. A horrible, long bear in resource stocks, a plunging loonie, and the longest raging bull in U.S. markets could be the culprit. Oh yeah, and stupidity. Most investors get LESS interested in buying assets when they can get a better deal on them.
TD Ameritrade and Scottrade never allowed direct access to Canadian listings.
Scottrade use to. I had an account .
I had an account too and I could buy Canadian stocks but not using their Canadian ticker symbol. For example, instead of IPT for Impact Silver, you’d have to use ISVLF. That’s not direct access to the exchange.
I use to trade with their scottrade elite and I had direct access. They pulled the same thing E-trade is doing now. When I no longer had direct access I switched to E-Trade.
Thanks for the heads up on interactive brokers. Looks like they will be getting my business.
Thanks, I had no idea ST ever offered it. I had the IB account at the same time so I probably didn’t look at their services hard enough.
Doc, if an American has a brokerage account that allows you to trade Canadian stocks you can buy it just like any other stock. (XAU.V)
If you are an American you cannot even open an account with Bitgold, muchless buy and sell.
V
Is this really all that different from James Turk’s goldmoney?
Completely different. GoldMoney was/is for storage primarily.
Bitgold will be a hybrid financial platform outside the banking construct for transaction and storage all combined.
Bob is correct, this is the future for gold as the premier money of real value further translated for ease of use and commerce in everyday life.
American’s though get to watch from afar as the show unfolds.
Let me clarify. I am absolutely positive that James Turks Gold Money is an outstanding company and provides one of the best services as a gold buying and transacting platform.
My mistake if it seemed I implied that it wasn’t.
I need to watch more closely how I word things.
V
Turk’s patented GoldMoney platform is actually perfect for transactions but the PTB put a stop to that several years ago.
Gold storage fees their are just .12 -.18% per year.
The charge to buy more than $9,999 worth of gold is 2.19% and over $99,999 it drops to just 1.39%. Since there’s no charge to sell, this is very competitive with BG.
Thanks for that. I think there are many more similarities between Goldmoney and Bitgold than differences. Goldmoney is also a flexible platform that allows easy trading in “bits” or grams. It is much more than just storage. I don’t own Goldmoney…I am just curious why there is so much excitement of Bitgold when Goldmoney hasn’t really taken off.
Considering the sentiment that goes with a long bear market, $1.2B in stored precious metals seems pretty good to me. (It was well over $2B at the peak.) Especially when you consider all the competition that exists.
Unlike Maloney’s operation, when you sell at GM you get your money in a day or two -not 2-3 weeks AND you don’t get hit with a $200 vault fee. Bullion Vault is good too but GoldMoney is the best, in my opinion. I know a handful of people that have opened GM accounts because of me and all have been pleased.
Doc, yes on the debit card payment. Your gold held in your name/acct will just be reduced by whatever equivelent amount it took to purchase whatever item you did in whatever currency that was used against the spot price of gold at that moment, plus a 1% charge for completing the transactions.
Very simple and straight forward.
This will be huge, too bad for Americans though.
Roy Sebag was on BNN with Frances Horodelski.
http://www.bnn.ca/Video/player.aspx?vid=612913
Poor Fran almost chokes when she mentions “gold”
but to her credit she did the interview.
Some people do anything for a pay cheque.
Nice interview…….thanks………….
Guys, thanks for the info—just some followup questions___
1. If you have gold on account, can you at anytime take ownership of the gold for 1% over spot.
2. How difficult is it for an American to acquire dual Canadian citizenship
3. If it’s difficult to acquire dual Canadian citizenship—Bob, would you adopt me?
1. Yes
2. It’s possible but you would have to give up your US citizenship.
3. Hell no.
Would marriage work?
Bob, if you like you and Doc can marry in Canada where its legal. You get an official certificate and everything I hear. But its binding in law so assets are on the line. That Doc is pretty sharp….he might just clean you out and take half of 321gold to boot.
Now that’s funny.
I might open a BitGold account eventually, but silver and especially the miners are my focus now for all new exposure.
BitSilver?
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=2&mn=6&dy=0&id=p28201093471&a=401719496
The Sector Rank (SCTR) hasn’t been at this level since 2012.
http://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=5&mn=6&dy=0&id=p83638705257
So Americans cannot buy this at all? Why the heck is that? How about through TD Ameritrade? TD of course is part of TD Canada Trust so it is based in Canada and in theory would be able to offer Canadian broker accounts to Americans.
Might be an option. I would be curious to know the answer to that if anyone knows. Kind of bizarre that this would be blocked South of the border……are you guys really sure about that?
Don’t confuse trading the XAU stock with opening a Bitgold account and buying the bitgold.
Bird, I think they are excluding Americans because they are just starting out and there are too many Americans, they don’t want to be overwhelmed by demand. Eventually this will change if they become established. You have to know your market and what you are capable of, something Target failed at when they went gung hoe into the Canadian market.
By the way, I know you know, just keeping the lines of communication open. DT
No, I did not know until I read this thread today. I have not been following it. Actually I have been under the weather 3 weeks now and not well at all. I appreciate your answer. So you are saying its actually the company that won’t set up shop with American’s as customers. Bob mentioned up above its due to Facta rules.
Facta sure sounds like a real impediment, when we had Carney heading The Bank Of Canada he followed the American banking model to a tee, so I can’t imagine The Canadian Banking Rules and Regulations being much different from the US model. If that’s the case they will have their work cut out for them as Doc seems to suggest. All of those paper regulations have been building up for decades.
Is Canada planning to follow along with the US in world wide taxation regulations, DT? Have you heard that anywhere? Then Mexico too? North America really is an island in that sense. I just get the feeling that the idea behind this Fatca thing is to suck as many dollars back into the US as possible. Maybe it is an idea intended to be stimulative on some levels. Maybe it will drive inflation and even further asset price growth. There has got to be consequences to closing hundreds of thousands of bank accounts of Americans overseas that will impact on dollar flows and their direction. Maybe this is all part of the war on cash as in essence this would force a dishoarding of dollars or perhaps it is part of a program that creates the conditions whereby foreign investment flows of US citizens are directed back into the US. Got to be more to this story than meets the eye. I just don’t believe it is only about taxation as some guys assert.
I thought it had to do with facta, as Bob said.
There are banks now that wont take American cash because of it.
It might just be too much record keeping.
It makes perfect sense now. Thanks bb.
Fatca is going to create all kinds of problems for Americans and probably won’t accomplish what the Feds would like to accomplish. The reason Bitgold isn’t taking American money is and will be the reason why many other businesses outside our borders won’t in the future—it’s a record keeping nightmare and costly—so why even deal with American money. After perusing this business, I would seriously look at participating in it. The way America along with other western countries are proceeding, their citizens will have to find other ways to protect their assets in the future.
Thanks Doc. I have to learn more about this Fatca thing obviously. Seems to me though it is the ultimate form of capital control except once the regulations are in place it is actually outside countries that do the controlling of the capital. So you cannot even blame your own country when enforcement comes from abroad. How weird is that? And indirectly, US investment and savings dollars are being sucked back into America because they are being rejected by foreign companies and banks……but can that be the real intention? To turn the States into an economic island by reversing the flow of capital that might otherwise be finding a home in a myriad of offshore tax havens, investment destinations and overseas banks?
Seriously, has anyone ever tries to calculate how many dollars have been forced to return home because bank accounts of Americans were closed in Europe and Asia?
How many billions are we talking here? This cannot be just about taxes if I understand what is happening. It is about promoting (indirectly forcing) investment and savings accounts within US borders to expand and to repatriate dollars in the process.
Am I wrong? If you had a bank account in Belgium for example but the manager sent you a letter saying it had to be closed due to the Fatca problem and then you could not find another bank to keep your funds….well then you had to convert from Euros and bring your money back home.
Being Canadian I have not followed this story at all other than read snippets here and there but it sounds like a dogs breakfast. I know Armstrong insists its all about taxes but you know what…sometimes he does not get the whole picture.
To me this is a story about how America is insulating and isolating itself economically. But from what? What do they know is coming that the rest of us are in the dark about?
Hey Bird.
You probly knew already but Doug Casey spoke, wrote about these events years ago now.
If things go the way he foresees it, the N.American continent will be closed down, people will not be able to move capital and travel will become a hassle.
Its a police state Bird, expect them to do what previous police states have done.
They are broke too, so they are going to suck every dollar from every source they can think of.
Armstrong the other day said our hope, is that the military refuses to fire on their own people.
Geez, things are great when that’s our hope.
No, I never heard the bb. I don’t follow Casey although I have read International Man a few times so I get the gist he thinks everyone serious should have a second passport.
A lot of these ideas don’t seem quite real though…until suddenly they do. I mean you can live in a sort of suspended animation where you hear people talking about a police state on the rise and still not believe it until the day it shows up at your house.
I really thought nobody was more monitored than the English though. Right up until Snowdon’s revelations of course. But London…whew! If you have never been there it is a real experience. The city just bristles with thousands of pole-mounted Big-Brother cameras on every major street and plenty of side streets.
They actually rotate and follow you as you walk down the road alone at night. The next one is waiting pointed at you as you arrive so you are continuously under video surveillance. No idea if its automatic or controlled by people but I found it a strange unnerving experience after leaving a late night bar to get to my hotel.
Don’t even think about peeing in an alley. It’s all part of the public record!
Yankee go home – and STAY home!
-sounds good to me.
Goes for everyone else too.
“Being Canadian I have not followed this story at all other than read snippets here and there but it sounds like a dogs breakfast. I know Armstrong insists its all about taxes but you know what…sometimes he does not get the whole picture.”
Bird, what I find out interesting about legislation like this is that it often emanates from a perceived need (capital flow monitoring and taxes) and then morphs into strict capital flow or some other reason other then the original one. The irony is that as other currencies gain strength over time like the yuan and banks/individuals remove dollars internationally because of the onerous fatca, you can imagine the inpact ultimately on the dollar—the law of unintended consequences then comes into play.
Yes, the surveillance situation is so intrusive that they now have cameras watching cameras in case someone wants to tamper with them, and the memory cards can zoom into a small area if it is in a library and pinpoint the exact moment a book has left the shelve.
So much for the glory days of making out with your fling between the stacks. Guess that’s just old fashioned anyways. What’s a guy to do these days if he lives in the dorms? There’s always the microfiche rooms and First Aid….tell me they don’t have cameras there yet, DT!
BB:
All of the laws are in place now to enforce a police state. Closing the borders is their goal indeed. Soon there will be border checks going out as well as in.
Yup, exit Visas are the new thing, Bob. Got to get one before you buy a flight home. They already have them in some of these African countries. Seems to be a new thing lately to raise revenues (if that’s what its about). You can check in….. but maybe you cannot check out again.
Hotel California baby!
I don’t need convincing, I believe I see clearly the development of a police state.
But we are already here, they just putting on the finishing touches.
I try to convince my kids to take my grandkids somewhere. I don’t envy their life in 20-30 years.
One thing tho, the NDP got elected in Alberta maybe, just maybe people voted for them because they don’t like the “economic action plan” (banks own your deposits)”beyond Boarder action plan” (ndaa is applicable in Canada) and bill c51.(spy on Canadians)
More likely the people didn’t like being told they were partly responsible for the deficit.
But, I can dream some people are actually informed, ya never know.
Send the kids to Africa bb. It’s pretty darn friendly here, they adore foreigners for the most part, its peaceful and old fashion values still rule in most places.
You have the NSA with the collection of all kinds of personal data and then you have fatca which will close the loop on financial data. Another result of fatca will be the rise of a shadow banking system and the flow of western monies into the banking system of the east that will not participate in fatca. You can really see the current and future push/pull accelerating between the west and the east.
I believe one difference between the relationship of Europe and the U.S. with the east is that the east will never be a willing “lapdog” of the U.S.
Hong Kong has signed on to Fatca, Richard. So has Singapore, India and China with “agreements of substance” whatever that means. About the only places not participating are most of Africa, Russia, Iran and small parts of South America.
Map of Fatca countries in implementation or under agreements.
http://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act#/media/File:FATCA_implementation_agreements.svg
I knew Singapore had. Maybe this is a part of one of the recent goals of the IMF which was to focus on corruption globally. Even though China is not an official member of the IMF, they might have tacitly agreed with this since they’re going after a number of expatriates who have fled to the U.S. and Canada etal. with alleged “ill-gotten” gains.
I would like to correct that statement. China is a part of the IMF but not a part of the SDR structure
That’s a great point you made Doc. China has its own troubles with corruption and capital flow leakage (if I might call it that) so they really would have a big interest in mutually shared information on who has the money and where they put it. I recall reading at one time that more investment money was leaving China than entering anymore and that a large percentage of its wealthiest class had plans on getting foreign residence and passports. So the capital movement clampdown is going global specially amongst those countries with better developed financial sectors. I really don’t get the sense of anything unusual happening in Africa though. It is still the place that time forgot in many ways.
I believe that GDXJ priced in SPY is going to break out of its long downtrend soon.
http://stockcharts.com/h-sc/ui?s=GDXJ%3ASPY&p=W&yr=5&mn=3&dy=0&id=p23640679830&a=376575377
Here’s an alternate view in which a line was drawn from the high to the low and then parallel lines were added.
http://stockcharts.com/h-sc/ui?s=GDXJ%3ASPY&p=W&yr=5&mn=3&dy=0&id=p77397739959&a=408602918
From the BitGold support center:
http://support.bitgold.com/customer/portal/topics/789701-my-bitgold-account/articles
“I’m a U.S. citizen, why can’t I join?”
“The United States of America is currently not part of the List of Supported Countries.”
Just on Casey
He’s in a country that has MAJOR currency issues. Makes the U.S. LOOK like Switzerland.
If you listened to him you sold your North Vancouver home for $800k now worth$1.7 million. Watch out for the experts. Bob M you are one I know of every call you have made and so far a dissaster to say the least. I mentioned to you 1.5 years ago that the DOW would soar and you said “Gold would go way higher”. I have the emai. Would you like me to bring up 50 of your calls? Maybe you should compare a chart?? I know 2 people that manage real money and their on fundamentals only. Their doon FINE and one moved most of his 150 mil to th US 9 months ago and his fund has soared. Up 40% in 3 years.
Bill:
You keep suggesting people invest by looking in the rear view mirror. It’s never worked for anyone before, who knows, maybe it will for you.
Bobbo lets go toe to toe.
Time permitting as I run a real company that uses most of my time producing goods a services that push the world forward. Not a taking head making a pile off a web site site that weight in on opinions that are wrong 70% of the time. Or more.
And I’ll weight in again. There’s trouble brewing but NOBODY can call it. People have been sitting around waiting screaming 10-15 years about a collapse that never came.
Will it be another 10-15 ? 99.9% don’t have the luxury to be sitting around waiting.
I know a lot of folk that have increased their wealth big time the last 10 years and in which know nothing of the fear mongering and gold. If you have real tangable assets that pay you an income stream that is all you can do. Get out of debt but interest rates are going to stay low for a while. Back to my day job!
I bought Bitgold on Wednesday at $2.41 and sold it yesterday at $4.15. Interesting stock but I wouldn’t go long as of this moment. Need to see if management can hit their goals in a timely fashion. Also there is too much hype at this moment surrounding the stock. It’s a wait and see but the potential for very good returns is there.