Re: This is Interesting: Paypal Freezes Account Of Swiss Gold Initiative Organization

On 31 October 2014 13:36, Joseph Potvin <jpotvin@opman.ca> wrote:

> [NOTE: Tangential to the WP CG topic of a WP standard, which this list is
> for, though relevant to the context in which such a standard is worked on.]
>
>
> http://www.economicpolicyjournal.com/2014/10/wow-account-of-swiss-gold-initiative.html
>


Related:

http://rt.com/op-edge/170948-germany-gold-us-sovereignty/

http://www.washingtontimes.com/news/2013/mar/27/gov-perry-texas-wants-its-gold-back-federal-reserv/

Both texas and germany want their gold back.

But it avoids the bigger question, of whether they should be using gold,
which keynes named a 'barabous relic', at all.

[[

The root problem with conventional currency is all the trust that’s
required to make it work. The central bank must be trusted not to debase
the currency, but the history of fiat currencies is full of breaches of
that trust. Banks must be trusted to hold our money and transfer it
electronically, but they lend it out in waves of credit bubbles with barely
a fraction in reserve. We have to trust them with our privacy, trust them
not to let identity thieves drain our accounts. Their massive overhead
costs make micropayments impossible.

A generation ago, multi-user time-sharing computer systems had a similar
problem. Before strong encryption, users had to rely on password protection
to secure their files, placing trust in the system administrator to keep
their information private. Privacy could always be overridden by the admin
based on his judgment call weighing the principle of privacy against other
concerns, or at the behest of his superiors. Then strong encryption became
available to the masses, and trust was no longer required. Data could be
secured in a way that was physically impossible for others to access, no
matter for what reason, no matter how good the excuse, no matter what.

It’s time we had the same thing for money. With e-currency based on
cryptographic proof, without the need to trust a third party middleman,
money can be secure and transactions effortless.

- Satoshi Nakamoto

]]


>
> Background:
> https://goldswitzerland.com/swiss-gold-initiative-2014/
>
> http://www.financialsense.com/contributors/luzi-stamm/swiss-gold-initiative-revolution-europe
>
> http://www.kitco.com/news/2014-10-27/Swiss-Gold-Initiative-Faces-Tough-Hurdles-Despite-Positive-Early-Polls.html
>
> Joseph
>