/Clean Gold Good, Dirty Gold Bad [VLOG#119]

Clean Gold Good, Dirty Gold Bad [VLOG#119]

Video: Clean Gold Good, Dirty Gold Bad [VLOG#119]


is that record I'm a leprechaun meet you here looking for right the powers are attending crypto slow cryptocurrency news and investing you better have my gold Krypto slo with more crypto gains what's going on guys happy Thursday so wow what's going on this morning oh there's a lot going on the big news this morning is fake gold and not the kind of thing gold that you're thinking about but fake stamped gold and you're like what in the world is he talking about so basically it's some of these bank vault well first let's back up a little bit gold in its bars like the gold bars are stamped numbered and basically they have IDs and as a storage this is like gold that's not being used for jewelry and something this is like banking gold and that's basically the trust mechanism between banks and obviously an Asia goat these gold bars a lot of times are used for large purchases like real estate and stuff well basically all these gold bars are stamped and ID'd and in that way you know where the gold has come from also it's a way for the government to control what resources what money it is leaving the country because if someone in country B has a gold from country a don't know maybe that an illegal transaction has transpired if it's against the monetary policy so basically gold that's mine like in Africa Venezuela or other parts is being like fraudulently stamped with basically like I make like a made-up serial number or a duplicate serial number and you know it's just funny to me because gold in itself just having the gold it's supposed to be the storage of value but now they want to ID the gold and stamp the gold so now it's it's it basically you know imagine if every dollar bill in the fiat world had a serial number on it but they actually cared about it though which they would if there was $10,000 bills probably people would be a little more you know scrupulous about accepting a large sum like that so basically this goal that's being mined you know and then basically it's having this illegal serial number stamped on it and you're like why is that really important well it's important because it shows you with with transactions of value one of the government's top concerns is source and origin so the whole idea of behind please these serial numbers and IDs on this gold you know one of the major things I think is so they can control the money in and out of the country and they don't want those cross-border payments happening unless they go through the proper channels so the gold is pure the gold itself is pure but the ID on it ISM is is invalid so in essence this allows people to sneak large amounts of money in and out of the country but it shows you the government is very concerned about cross-border payments you know and then they immediately jump to well it's gotta be illegal activity if someone's trying to move large sums of money in and out of an area but you know once again it's super interesting to me you know as soon as you have a large stack of dollar bills you know you're instantly a criminal so it's just funny you know or you go to the bank and try try to get money a large sum of money they're like well why do you need so much money it's so funny that in today's society you know there's all of this like all these transactions as long as the transactions are small it's okay but as soon as it gets larger it's instantly illegal so but it's very interesting so basically like this goal and that's you know that's an interesting concept if you applied it to cryptocurrency because you know the government would have a large issue with Bitcoin you know moving fast and on that note two billion dollars two billion dollars was moved this morning a big one in one transaction pretty incredible and the fee I think on that was $1,800 223,000 big points in one block I think I think the government would probably have an issue with that if they do Merrill was going to and from so you know very very interesting you know the facts that yeah so anyways back to what I was saying applying that to cryptocurrency would be interesting to know if crypto will ever be serialized or Aidid meaning imagine if you had Bitcoin bucks or whatever some new crypto and it can actually have a country of origin ID built into the blockchain mechanism and I don't see honestly I don't see something like that as too far-fetched I mean that's the biggest problem with Libra is the government's not going to let you send a thousand dollars to somebody in Zimbabwe halfway across the world because that's a cross-border payment it's gonna violate like 99 million laws you know for Terry policies and that's you know that's you know that's I think that's part of what keeps a lot of these people in poverty is the government restrictions are so tight that you know they really close off a lot of cross possibilities you know with you know with payments and in business and just in general these tight monetary policies keep you people in poverty so yeah so really really interesting fake gold but not fake in the way that you and I would think it is it's it's about the ID I guess I never really thought about how important the source of the gold I thought gold was gold right bitcoins a Bitcoin doesn't matter where it came from it's a Bitcoin but now it's not good enough the gold to just be gold it's got to be a legal gold and Aidid properly and the source can only be certain areas or legal gold SEMO there's legal gold and an illegal gold and if you've found to have a legal gold it is up for seizure or forfeiture so yeah really interesting articles I'll leave a link down below check it out what do you think of gold to have any gold I do have a gold money account which allows you to own physical gold gold right now is kind of high obviously you get the gold bugs you know with the recession coming Gold's going to ten thousand ounce but you know as always that's that's something for you to think about but anyways yeah and if you didn't know about it gold money check it out it's basically a website that allows you to buy physical gold you actually own the gold and you even get a credit card that you can spend your gold on if you want to liquidate it so yeah anyways this is crypto slow hope you like today's vlog please like and subscribe if you want the latest greatest cryptocurrency news and investing daps and other cool things this crypto slo did not talking.