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digital
gold
The Case
For Owning
Digital Gold
PLUS:
An Interview With
Bill Cunningham
CEO of Global Standard
Digital Gold
U.S. National Debt (Trillions)
September 2016
D i g i ta l g o l d . m o n e y
DIGITALGOLD
CO NTENTS
Digital Gold MAGAzINE
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McShirley wrote:
The last two months have been a microcosm of the
past five years. Gold is being mugged in plain sight,
right in front of the cops, with no media bothering
to report the crime. It sounds like a broken record
but clearly this rigging is untenable. Epic rallies
come from markets that have become distorted. Gold
and silver arent merely being distorted; they are
being suppressed to small fractions of their true net
worth. Tsunamis come to mind when predicting the
outcome.
For years GATAs premise has been that this market
rigging could be defeated if it was documented,
exposed, and publicized well enough. But while
many people in the monetary metals industry
have come to understand what is happening, few
have acknowledged it in public. And while the
documentation has been presented and explained
to many financial news organizations, none in the
mainstream have dared to pursue it seriously.
Even some mainstream financial news organizations
that have approached GATA professing an interest
in the subject have dropped it quickly and fled upon
realizing how sensitive governments are about it.
Yet at least two major governments, those of Russia
and China, have acknowledged knowing all about
gold price suppression and even about GATAs work
particularly:
http://www.gata.org/node/4235
http://www.gata.org/node/10380
http://www.gata.org/node/10416
So GATA presses on in the morning, even as the
market rigging couldnt get more obvious. For it wont
matter that the emperor wears no clothes until more
people in his audience have the courage to exclaim
that hes naked.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Digital Gold Magazine | September 2016
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will have refugees but lets shorten the refugee
status and assimilate our brother and sisters into
the global economy fast. With dignity through
identity. I am sure everyone knows enough about
the Blockchain so I wont try and re-hash it! The
Blockchain for the first time allows people in
extreme poverty zones and in refugee situations
to own their information, access their information
and monetize their information - all while being
extremely secured and private. The blockchain
enables that breakthrough. One which we didnt
get with the Internet because data became more
and more centralized and specialized while
things happening to me became property of
social media, search and cloud app conglomerates.
Not a bad thing if you are in the 4.5 billion
subset and you have an identity. Pretty bad if
you are in the 2.5 billion subset. I am sure many
of you are jumping out of your seat saying we
cannot risk the security and lives of the billions
living in poverty and the 60 million refugees by
giving them blockchain economic identities!!.
I would humbly disagree. That is because (and
dont take my word for it do your on research)
the basic constructs of the blockchain - proof of
work, SHA-256, smart contracts, usage rights,
decentralized network etc. the list goes on and on
- have proven that it makes sense. Why else would
we have major banks adopting blockchain! The
ability to have all my information that I can access
and control as a refugee (or person living under $2
a day) is beyond empowering. It is birth a right.
Its is the basis of human dignity. That is the way
out and up.
So, as we all stare at the massive tsunami of
blockchain opportunities (billions invested alone
in the past 12 months) for the developed world to
get faster, better and richer, I am making a strong
humanitarian case. A case that is now based in the
truth that Blockchain is here to stay and it will
make the world a better place.
www.banquapp.com
Dignity Through Identity.
This article is a reprint from Ashish Gadniss
LinkedIn profiles. Click on this text to read more.
Editors Note:
We should be focused on advancing companies
and causes such as BanQu. The BanQu App
is the first of its kind, KSI (Keyless Security
Infrastructure) where every user has a unique
encrypted and hashed data block in the
blockchain. The BanQu App stores individual
personal identities securely and allows a client
to access and use the tool in local or global
commerce. BanQu maintains a permanent, timestamped, geo-tagged record of every customer
identity and all of its related transactions. Each
client can build on that information, history, and
progress to construct a stronger economic future.
Digital Gold Magazine | September 2016
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eople (like us) who work in new, unapproved ventures need to know that we are morally right
to do so. It is not enough just to be practical... as valuable as that may be. We must also know
that we are right. We need moral confidence.
So, I want to specify the reasons why digital currencies are morally superior to state currencies.
Perhaps you can add your own, but I think this is a nice first list:
Theft, via dilution, is wrong: Digital gold currencys value cannot be stolen. Fiat currency can
be printed indefinitely, diluting the value of all existing fiat, including the surplus production that
people spent large portions of their lives gathering.
By inflating away the value of the savings held in currencies, large portions of peoples lives are
being stolen from them. The time energy they spent earning that surplus is taken away by dilution.
The owners and operators of fiat currencies steal life.
DGCs, on the other hand, do not lose their inherent value: Gold is always gold. Some major
change in its value may occur in the future when gold asteroids are brought back to Earth, but
until then, gold remains scarce. And even then, it will probably always be preferable, valuable
stuff.
Surveillance is intimidation, and that is wrong: The vast majority of fiat currency transactions
have been forced through banking systems where they are very carefully tied to individuals,
tracked, and their exchanges recorded. On the other hand, many DGCs are already anonymous
and the rest are headed in that direction.
Surveillance is designed to make us self-censor. Lets say you learn that your local government
has behaved very badly and you think about protesting. But, you know that they have facial
recognition technology, and you know that they have every email sent in their country for the past
five years? Will you still act, knowing that government can (with the push of a button) call-up all
the emails you sent to your friends when you were depressed? Or every web site you ever surfed?
Surveillance negates free speech over time, and when nearly every financial transaction goes into
a surveillance database, surveillance is inescapable.
From the standpoint of a tyrant, a surveillance state is a perfect weapon: It chokes off all
dissent before it can form, but leaves the rulers looking pristine. The enforcement mechanisms are
fear and shame, and, being internal to all involved, they remain unseen, no matter how powerful
their effects. This is, obviously, an argument in favor of privacy, which digital currencies provide.
DGCs cure theft: The modern crime of identity theft is a direct effect of forcing identities to
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be joined to currency transactions. Anonymous cash (either digital or physical) eliminates identity
theft in a single stroke. Anonymity means there is no identity information to steal.
States world-wide are scrambling to eliminate physical cash so they can assert full control over
every person on the planet. They are massively empowering criminals by doing so. (And they
dont care.) Digital currencies give those criminals no tools to use and protect their users from
identity theft.
DGCs broaden thinking: Individual fiat currencies hold complete dominance over fixed
territories. The people affected by those dominations really believe that their paper is valuable.
Most of them dont understand the fact that paper was supposed to be a receipt for actual value.
Once people start using other currencies, and hopefully actual metal, their thinking changes and
the near-hypnotic assumptions of the dominating culture of that geography begin to fade. The
truth sets men free.
DGCs do not empower an arrogant elite: In other words, DGCs are not monopolistic.
Fiat currencies are enforced monopolies. Only a very few, state-authorized people are allowed
to create the currency. All the institutions that distribute it are carefully and harshly regulated by
these small, elite groups. Try to imagine what happens to a group of people that literally gets to
create money from nothing, and is also protected from competition. Then add the fact that they
know in advance when interest rates will rise and fall...because they make the decisions. That is
an absolute recipe for arrogance and abuse.
DGCs, on the other hand, can enforce no monopoly. If one DGC provider got arrogant and
abusive, it would only create space for other currencies to take away their customers. DGCs are
honest; fiat currency is abusive in the extreme.
IN SHORT...
DGCs are honest money. They store real value and trade freely, as their users productive human
beings wish to trade them.
Fiat, on the other hand, exhibits multifaceted dishonesty. It has become the number one tool of
manipulators, intimidators and deceivers world-wide. It is one of the primary evil forces on the
planet.
DGCs are ethically better than fiat... by a huge margin.
We are not worthy of suspicion and mistrust the priests of fiat are.
Our products are, by their very nature, far, far better than theirs. Ours are designed to be honest
and useful; theirs are designed for thuggery and theft.
Our way is morally superior.
http://www.freemansperspective.com/
Digital Gold Magazine | September 2016
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There are only a handful of knowledgeable digital currency operators in the world.
These are the pioneers with a decade or more of hands-on experience in storing
bullion, securing the privacy of user accounts and navigating the everchanging
regulatory landscape. Bill Cunningham is one of these special few.
Were talking today to Bill Cunningham
President and CEO of Global Standard. Weve
published a couple of his press releases over
the last two months and thought this would be
a good chance to sit down and find out what
Global Standard is all about. Bill, thank you
for taking the time to talk with us.
Its my pleasure, Carl.
On the surface, Global Standard is a payment
system but it appears to be much more. What
exactly is Global Standard?
We are a payment system but, but under the hood,
we are much more than that. What weve actually
done is launch a private-sector monetary authority
and issued a private currency that is valued in
and 100% reserved by physical gold. This model
is significantly more dynamic and beneficial
over time than only being a payment system,
but clearly, it also brings enormous benefits
to online payments. And interestingly, Global
Standard is the first and only licensed financial
institution explicitly authorized to issue a goldbacked alternative currency and to administer
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First of all, a fundamental imperative is to assure
freedom from default risk. Weve implemented a
number of controls and processes to achieve this
requirement.
The currency which circulates on the Global
Standard Platform has a 100% reserve of physical
gold. The gold is actually owned, by a special
purpose trust the Global Standard Bullion
Reserve Special Purpose Trust for the sole
purpose of being a reserve. The gold cant be used
for any other purpose; it cant be leased, it cant
be loaned, it cant be used as collateral it can
only be used as the reserve. And Global Standard
is contractually bound to this arrangement and our
liability.
Were utilizing the existing global gold
infrastructure including the London Bullion
Market Association and COMEX in the United
States to ensure we are dealing with Good
Delivery gold thats held in a proper custodial
chain. The gold is physically stored in treasury
grade depositories.
Regardless of whatever may happen to the
company, by its own actions or by a third-party,
the gold remains secure so that if necessary it can
be liquidated to return national currency to all
holders of AUG, AUG being the designator for
the gold backed currency which circulates on the
Global Standard Platform. It is free from default
risk.
Second, we have to make sure that payments
are final and not subject to reversal. So we
implement rules and system protocols that require
an account have an adequate balance before it
can initiate a payment and that payment, once
committed, cant be pulled back or defaulted on
by the payer.
Its also very important to mitigate the type of
risks that occur with any private business venture
that generally do not exist when youre dealing
with the central government. To this end, the
protocols, business processes, and assignment
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Bank has set up an objective to reduce costs
by 50% from what exists today. Once Global
Standard is able to enter this market we can, in
fact, reduce current costs by 50% or in many
cases more. Payment with Global Standard also
takes place immediately so there is no delay
in money getting back to family members.
The savings can be so significant that in some
countries they, could have a noticeable impact
on a countrys GDP and GDP growth typically
translates to reductions in poverty clearly in our
long-term mission
Internationally Global Standard is good for
businesses. Even the big guys have to go through
the banking system and very few have access to
international settlement platforms. With Global
Standard, everybody has direct access to the
settlement platform which greatly simplifies
international payments
This is an enormous idea, Bill, tell us how you
came up with it?
I think the background here is very significant.
Youre quite familiar that e-gold was forced to
cease operations back in 2009 after they pleaded
guilty to operating without money transmitting
licenses. When it became apparent to the e-gold
ownership that they would not be able to get the
necessary licenses to continue doing business
as the court indicated they could, they began
looking for options for the future. I was able to
provide one where I put a group together to buy
the intellectual property. The e-gold system was
built on the same monetary concepts of Global
Standard. The e-gold team, primarily Dr. Doug
Jackson, worked to upgrade the intellectual
property to meet the necessary regulations and
include later generation software and technology.
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https://globalstandard.com
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number of states define money
in money transmission as
sovereign currency, or the
legal tender of a country. In
the EU, funds are considered
fiat currency. Expand funds
or money to include virtual
or digital currencies in which
they are a digital representation
of monetary value that can
be used in replacement of,
converted into, redeemed for, or
exchanged for fiat currency; and
existing regulation could apply
nearly everywhere.
Two arguments are most often
presented for not regulating
virtual currencies or at least
minimizing regulations. First,
these new payment mechanisms
are so unique, traditional
guidelines do not apply and
therefore special considerations
need to be developed. This
uniqueness may exist to some
extent with the technology, but
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virtual currencies.
This lack of regulatory control
around emerging virtual
currency-related businesses also
creates an uneven playing field
for traditional banks and money
services businesses putting them
at an increasing competitive
disadvantage. Proper
compliance involves substantial
efforts to obtain licenses/
approval, as well as ongoing
efforts to maintain compliant
systems, are plagued with time
delays to market, geographic
constraints and significant
costs. Virtual currency-related
businesses that do not adhere
or are not held accountable to
existing regulations obviously
are not burdened with these
delays, constraints or costs.
Even the few virtual currency
start-ups that try to follow
regulatory guidelines are
severely handicapped, if not
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Are
We
At
The
Point
Of
No
Return?
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Peak Gold
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Many near-Earth asteroids are said to contain trillions of dollars worth of precious metals and other
minerals. But thats a discussion for another time.)
Well probably see a surge in mergers and acquisitions, as I told Kitco News Daniela Cambone last week. I
think that as long as they have reliable output, mid-cap companies could be gobbled up by the Barricks and
Newmonts of the world.
Another consequence of recovering the last known nugget? The gold price could spike dramatically to
levels only imagined. My colleague Jim Rickards, in his book The New Case for Gold, puts it at $10,000
an ounce. GoldMoney founder James Turk says its closer to $12,000. Theres really no way of knowing
how high gold could go.
Did Gold Production Peak in 2015?
What we do know is that global gold output has been contracting since 2013. Last year might have been the
tipping point, however, in line with Goldcorp CEO Chuck Jeannes prediction that peak gold was within
spitting distance.
There are just not that many new mines being found and developed, he told the Wall Street Journal in
2014, adding that this was very positive for the gold price going forward.
This year, second-quarter mine supply was 2 percent less than the same period in 2015, according to
preliminary estimates made by Thomson Reuters GFMS. Some analysts now expect global production to
fall 3 percent in 2016, after seven straight years of growth.
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Whats more, few new projects and expansions are expected to come online this year, writes Thomson
Reuters, and those in the near-term pipeline are generally fairly modest in scale, hence our view that
global mine supply is set to begin a multiyear downtrend in 2016.
Indeed, if we look at projects that opened in just the last two or three years, we see that theyre of lower
grade, meaning they dont produce nearly as much as older, easy-to-mine gold deposits.
The truth of the matter is, when it comes to discovering new gold deposits, the low-hanging fruit has likely
already been picked. Gone are the days when someone could stumble upon an exposed hunk of gold at the
bottom of a riverbed, as James Marshall did in 1848, setting off the California Gold Rush. Every year, the
pursuit of gold becomes increasingly more challengingnot to mention more expensiverequiring ever
more sophisticated tools and technology, including 3D seismic imaging, direction drilling and airborne
gravimetry. (A satisfactory gold fracking method, however, seems unlikely to become reality any time
soon.)
Compounding the issue is the fact that the number of years between discovery of a new major deposit and
production is widening, due to the increase in feasibility assessments, compliance, licenses and moreand
Founded in 2003, GoldCore is now one of the leading gold brokers in the world,
serving clients in the U.S. and over 45 countries internationally. GoldCore offer
a range of precious metal products and services including GoldCore Secure
Storage, Perth Mint Certificates, GoldSaver (gold accumulation program) and
bullion coin and bar delivery.
Digital Gold Magazine | September 2016
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thats all before nugget one can be extracted. The average lead time for gold mines worldwide is close to
20 years, though it can sometimes be more, depending on the jurisdiction. This highlights the need for
worldwide policy reform to remove many of the barriers that obstruct responsible mining.
In The Goldwatcher, the book I co-wrote with John Katz, I expressed the importance of knowing which
developmental stage of a mines lifecycle a project currently falls into, as this has a strong influence on
stock performance. Investing, like life, is all about managing expectations.
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With gold now trading above $1,340 an ounce, up 26 percent for the year, many investors expect producers to
begin lifting spending on exploration and production (or dividends).
Instead, most companies are in cost-cutting mode, using this opportunity to pay down debt and liquidate
assets. According to Reuters, North American gold producers have managed to lower their debt levels 30
percent since late 2014.
Speaking to Mining.com, Newmont Mining CEO Gary Goldberg said his company, the second-largest gold
producer in the world, is one of the few thats currently building new minesspecifically the Merian project
in Suriname and Long Canyon in Nevada. Because of the lack of new mines being built, he sees supply
falling 7 percent between now and 2021. Demand for the yellow metal, on the other hand, should remain
strong during this period, helping to support prices even more.
Massive Inflows into Gold Funds
In the meantime, gold continues to find support from global monetary policy and low to negative government
bond yields. Last week the Bank of England cut rates as part of a stimulus package, which both weakened the
British pound 1.5 percent and gave the yellow metal a jolt.
These gains were erased, however, following Fridays better-than-expected U.S. jobs report, which sparked
Digital Gold Magazine | September 2016
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http://www.goldcore.com/us/gold-blog/peak-gold-did-gold-production-peak/
Editors note: The fact that peak gold is taking place at a time when the world is engaged in a risky monetary
experiment involving massive fiat paper and electronic money creation on a scale that the world has never seen
before, bodes very well for golds long term outlook. http://www.usfunds.com/
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D o n at e W i t h A n o n y m i t y
From The
Digital Cash
Alliance
What is the Digital Cash Alliance?
The Digital Cash Alliance exists to move the world toward digital cash. Our alliance consists of individuals
and companies committed to a future which includes greater freedom for everyone. Cash has long been the
sine qua non of privacy, anonymity, and individual liberty. Places where cash may be used to make purchases
and where cash may be accepted to make sales tend to be places where people are more free to choose than
places where cash is forbidden. We believe that the global marketplaces online which seek to provide for
individual liberty, privacy, and anonymity would be greatly improved with digital cash. Accordingly, we seek
to promote, publicise, and encourage the use of digital cash. We hope youll join us.
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Dear All,
By way of introduction my name is Jan
Nieuwenhuijs but most people on the internet know
me as Koos Jansen. Im a gold researcher working
at BullionStar.com https://www.bullionstar.com/
blogs/koos-jansen/
Kindly I would like to ask your attention for the
following:
What many people dont know is that allegedly
all of the US official gold reserves have been
audited, including the 147 million fine troy ounces
at Fort Knox. A few years ago I began researching
these audits and found many inconsistencies and
impossibilities in the documents delivered to me
through FOIAs at the US Treasury, US Mint and
the Department of the Treasury Office Inspector
General (OIG).
An example blog post of my research that I wrote
in 2015 can be read here https://www.bullionstar.
com/blogs/koos-jansen/us-government-lost-7-fortknox-gold-audit-reports/
To get to the bottom of this I continued my
research after my last blog post and found even
more highly problematic cracks in the official
narrative presented by the US Treasury (the lawful
owner of the gold). Naturally Ive confronted the
US government with all these problems and
asked if they could clarify these for us, but no
department has been willing to fully cooperate au
contraire.
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For more information, please visit our website here.
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About Strategic Wealth Preservation Strategic Wealth Preservation Ltd. (SWP)
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Whether you are a large bullion dealer or someone who requires a safety deposit box, we have the perfect
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com or call (345) 640-2111.
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Gold Revolutionized
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Buy as little as 0.001g up to tonnes of gold. You may request delivery any time if you have enough
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The final decoupling of American money from gold took place 45 years ago this August.
Heres the announcement by President Nixon ending the convertibility of U.S. dollars to gold
August 1971 on YouTube. Click on Tricky Dick to watch the video on YouTube.
https://youtu.be/iRzr1QU6K1o
Digital Gold Magazine | September 2016
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www.HardAssetsAlliance.com
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Ponzi...Ponzi...Ponzi!
This is a new regular column that details online Ponzi Scams using digital currency.
From our friends at http://behindmlm.com/
was 714 days ago today. June 30th 2015 was 425
days ago.
BitClub Network claim the reason behind the
dumping of early contracts is because affiliates
who invested early have made back a substantial
return.
By eliminating these early shares it will
boost the daily payout on a per share basis
for everyone else.
It will also allow us to go back to paying for
1,000 days on all the contracts instead of 600
days.
The return to 1000 day contracts will likely see
BitClub Network reduce the rate newly invested
funds are used to pay off existing investors, once
again giving them more breathing room.
If you purchased a share that was only good
for 600 days you will see an extra 400 days
added to your mining time.
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