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JonathanW

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  1. Part 1 taking about the first Aurums, Part 2 will be a lot more detailed and talk about the Utah Gold backs.
  2. Hello, I have been on Yourube for 9 years but now am working on making silver/gold related content for my channel to go along with my other content. Here’s my latest creations 2019 South Korean Tiger Medallions RMC, Asahi and Sunshine Mint Silver Bars Gold Aurum Note Discussion Part 1 Hope you enjoy and I’ll be uploading more in the future.
  3. If all factors are the same in terms of using strictly gold only and the premiums are the similar to current market products than it’s a completely subjective choice at that point. It’s down personal preferences. In regards to the weight of the gold notes they currently go to a gram in weight and are intended to by used in smaller denominations than the smallest coins available. They will only be used for small purchases and never intended to take over large items as large coins will work fine for that. however we are not at the point yet and the price gap is quite drastic that makes it harder to be accepted. I believe it’s a novelty in this state and price but deserves more merit or interest than complete dismissal of the concept.
  4. Good points and thanks for taking the time to give your opinion on the topic. I highlighted something important that I just want to clarify that these are not IOU or Silver certificates. They themselves are made of gold and can be melted down into the pure form of gold if desired. Not sure if that got missed but these don’t represent the old gold standard the US use to have. I may be misreading it but I figured I mention it just in case
  5. Solid points but I don’t believe the coins address the issue of most youth don’t use coins in regular day to day life. It would take a lot more effort to teach a new generation that coins are the new primary currency compared to a new type of note that they already grew up using their entire life. Cash/notes are the most widely accepted means of transactions after Credit/debit cards. Coins are typically heavier and bulkier to carry in todays standards. convenience is king in our modern world and having to get special wallets or coin holders To deal with the bulk of silver is less practical in my opinion. If these notes entered mass production at a national scale and the premium was 5-15% would you consider this as an alternative to fiat currency?
  6. Hello, I’ve been on YouTube for around 9 years making small videos from my teenage years; skateboarding, to now firearms content. I plan to branch out in to reviews certain types Silver and Gold items that interest me. Here’s my channel, I’ll update when I have more silver content. https://youtu.be/CCnqXpJzwxo
  7. I checked and a couple years ago they legalized foreign currency within the country but the exchange fees might be high. I’ll double check with my family. Update: USD is exchanged through the black market as the government won’t exchange them so they(black market providers) are likely adding large fees to exchange the currencies. Greatly diminishing the true exchange value
  8. USD is king In private sales but I believe the government makes it illegal to do deals in USD(Would have to double-check) and may be subject to confiscation if businesses are caught using the USD. The government is extremely tyrannical and anti US so even though dollars are used mainly, it’s not officially accepted. Gold is still usable as currency and is the only official thing left with value. Even the vast amount oil there is extremely crude and difficult to refine especially with all the government refining facilities are a complete mess.
  9. Gold is still highly valued culturally in Latin American especially in Venezuela and is still used/demanded regardless of the food crisis.A llot could not afford the 50 gram credit card but most could accord the 1/10 gram notes . Allegedly the government central bank considered switching to these notes in 2016 to try fight the inflation and terrible government policies but it went with the crypto currency . The country fell deeper to political crisis and instability so it was never adopted officially. im going to reach out To the large Venezuelan communities on Facebook and poll their interest in the concept. I’ll post the results if I get some results either way
  10. My original had the link to the free gold sample but being a new member it looked like a scam/spam. However it’s a genuine deal and lots of people received them
  11. How do you purchase small items with $50 gold size bars? And also how do you provide change in the event cash was not an option. We’d be forced to only buy items in $50 increments or more. Genuine question, not sarcasm
  12. I do not know if it’s wide spread in use as power is routinely shut off for hours and/or days so you might not be able to use it to buy something at the store during this time. The government tried to make a petro dollar in cyprotcurrency but I think that’s a global currency But shunned by most of the world. Also it’s the norm for people to not use phones in public as it increases your chance of being robbed/killed. In private it might be used but out of the dozens of Venezuelans I have met, I never seen one talk about Cyprto currency
  13. That’s an excellent point but I’d think if something drastic happened in the US and dollar hyper inflated than Greshams law would be less of an issue for transition to gold currency. We do have coins now but currently I can’t find anything of this size made of gold that could be realistically Used to barter. You would pay $150 worth of gold for day to day purchases using penny size gold coins. My Wife is actually from Venezuela and with their extreme hyper inflation, cash has become almost unusable. Their cash is no longer a viable. They are forced to use other forms of payment such dollars(used on the black market) or bartering gold jewelry. Which means because they don’t have lower denominations of gold and lack of dollars, they are spending $100s over the value of basic items for simple goods. This “gimmick” would likely help them in this event have a functioning barter system and although they would be paying high premiums for the notes, they are not spending $100 on a loaf of bread. I have thought of sending some of these to my parents in law currently living in Venezuela In of the thick of the collapse. In the next food box we send to them(only way to get large quantities of food) I’ll add them and see if they work well in their situation. I think we would all benefit to see the effects in a real world economic collapse.
  14. The biggest flaws I see are: 1. The Percentage of Premium over spot price is way to high to be accepted broadly by the Gold/Silver community. Quantities of Gold in these such low denominations that are usable like cash has not been effectively tried before so the cost of production is drastically higher than minting a regular much large quantity coin. I see with more states accepting this currency, the drop in production and premium costs. Hopefully to match the premiums of the smallest coins. 2. Fiat Money is king of our economic system and that is a simple fact of life. It’s hard to change such in trenched concept that this new currency faces a uphill battle the whole way. 3. Public Unaware of value in money backed with PM. A huge percentage of people are completely fine with fiat money and the status quo that any change would seem unneeded (until the next recession or Financial crisis). A lot of people don’t even know the value/importance of food and silver. It’s not as mainstream as it probably should be. Spreading the word would be a huge obstacle to over come. 4. Also suffers from Greshams Law and would likely be Hoarded in Utah as the gold currency has more physical value than fiat currency. People would actively have willing to spend their goldbacks at stores to continue the cycle and spread of currency.