BullionCoin Mission Statement
BullionCoin’s mission is to become the world’s leading honest Digital Money, 100% backed by gold and silver which are impossible to debase or devalue.
The digital portability of BullionCoin empowers the user and provides full financial control, privacy and transparency. BullionCoin is immune to traditional banking problems and counter-party risks and has epic disruptive implications.
BullionCoin aims to become a pre-eminent digital and a major world asset. It is the perfectly engineered money.
Gold and Silver with a Yield
Historically gold and silver are the best stores of value, however, they are perceived by the financial industry to have a monumental weakness namely that they produce no yield, and are thus priced and treated as commodities.
BullionCoin, for the first time in history, solves this problem without compromising its asset backing.
Pension Funds and institutions for the first time ever will be able to invest in gold and silver.
Problem with Fiat Currencies – The Need for Honest Money
Fiat currency is issued as debt by central and member banks. i.e. a government, institution or individual takes a loan (IOU) from banks at interest, but the interest amount to pay back the debt is never created, forcing the financial system to perpetually search for ways to extract “growth” to pay back the interest, and because of this the current monetary system is in continuous imbalance.
A new loan is created through an accounting entry as a new bank deposit and on the other side an accounting entry is made for the debt, so when the debt is repaid, the currency is extinguished. Fiat currencies are promissory notes and have no intrinsic asset value.
Thus, debt equals money and money equals debt.
It is two sides of the same coin. When fiat currency is printed, debt is issued; when debt is paid-off, currency is destroyed. If all the debt today were repaid, there would be no currency left.
Fiat currencies lose purchasing power over time like a leaking bag of water. The global debt based fractional financial system model is an extractive “Ponzi” scheme, abusive, destructive and unethical in nature – mathematically doomed to fail.
Physical gold and silver however, are a stable benchmark that cannot be debased.
Therefore ongoing price suppression practice by banks and central banks takes place through paper certificates manipulation, which can be printed “out of thin air”, to ensure gold and silver cannot be used as a benchmark to reflect how much purchasing power is being lost by fiat currencies.
The Solution is BullionCoin Gold and Silver
Only physical gold and silver can be considered as money since they carry no counterpart risk. They cannot be created “out of thin air” and are not created as debt and generate no inflation.
They are the best stores of value for over 5,000 years. Physical gold and silver money is honest money, it is debt-free and most importantly, free of interest and is an excellent store of wealth over time.
Interest usury or money earned from money is banned in both Christianity and Islam, making physical gold and silver the only compliant form of money since interest cannot be charged.
The era of fiat central banking is in terminal decline, it has brought the global economy into a serious turmoil, and all serious experts are predicting a repeat of 2008 – just much, much worse.
With plans to eliminate cash, all transactions will be forced to go through banks depriving individuals of their financial sovereignty and anonymity.
George Orwell’s “1984” vision will be fulfilled.
It is precisely for these reasons that cryptocurrencies since 2009 have increased in popularity to provide safety-nets where individuals can to a degree control their own financial dignity and hedge against market manipulations without interference and freely trade outside of the fiat monetary system.
Demand for physical gold and silver is being driven by a flight to safety and lack of trust.
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Very significant demand is coming from savers. Yet, savers of physical Gold and Silver suffer from the lack of price discovery which is suppressed through the manipulation of speculative “paper certificate” trade and cheap access to central bank fiat credit by large institutions and banks.
It is an absurdity that futures contracts, which rarely end up as physical delivery, dictate the physical gold and silver prices.
It is truly the equivalent of the tail wagging the dog. The only way to change this trend is for physical gold and silver to offer an attractive yield, whilst still offering allocated physical metal backing.
This is where the genius of BullionCoin comes into play and it has the architecture to impact physical prices and weaken the influence of paper certificates.