• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Democratizing Gold?

Tyler Durden's picture




 

Submitted by Adam Taggart via Peak Prosperity,

What if you could carry and exchange gold in the exact same manner as you do with the dollar bills in your wallet?

I've recently been introduced to a technology that's making this possible.

In today's podcast, I speak with Adam Trexler, President of Valaurum, about this technology and the gold-infused notes it creates. Valaurum's mission is to democratize ownership of gold by converting it into a form affordable to anyone.

Democratizing Gold

In short, a fractional gram's worth of gold is affixed to layers of polyester, creating a note called an "Aurum" similar in dimension and thickness to a U.S. dollar bill. This gold (usually 1/10th or 1/20th of a gram) is commercially recoverable. So an Aurum offers similar potential as a coin or bar, in terms of providing a vehicle for storing and exchanging known, dependable increments of precious metals just in much smaller (and more affordable) amounts than commercially available to date.

The big idea here? In a world where a 1oz coin of gold costs over $1,200, an Aurum will let you hold a few dollars' worth of gold in a single note. If you've got pocket change, you can be a precious metals owner.

And you don't have to change your behavior. You can store and transport an Aurum in your billfold along with your dollars.

Understanding the Aurum

As the saying goes, a picture's worth a thousand words. Here's a picture of an Aurum designed for Peak Prosperity that the Valaurum team produced for us:

(click here to purchase)

You'll see that with even just 1/20th of a gram of gold involved, it's enough to make the Aurum appear to be "made of" gold. The characteristic luster, color, and shine of the 24-karat gold used is immediately apparent.

The Aurum is designed to be handled in the same manner as we do with our "paper" money. And, despite having a more 'plastic' feel to it (resulting from the polyester backing), it's as flexible, lightweight, and familiar-feeling as paper currency.

The big difference, of course, is that instead of being a claim on something else, it simply is what it is: a fractional gram of gold. It can be stored, traded, or melted down just like a coin or bar.

Here's a brief video that gives an overview of the production process:

 

Implications

Being able to hold gold in this form is significant for several reasons. 

First, it makes gold ownership available to all budgets. Many of the world's households have been priced out of gold to date. This changes that completely.

Second, it enables the potential for everyday transactions should we ever return to a precious metal-backed monetary standard. It answers the challenge: How will you pay for your groceries with gold? With an Aurum, it's now easy.

Whether Valaurum's product emerges as the winning horse or not, the world definitely needs this type of solution (i.e., convenient fractional physical metal) to go mainstream. 

I'm very excited by this new innovation in the bullion industry, and I explore the matter in depth in this podcast. If you're similarly intrigued, it's worth the listen.

And for those of you interested in owning an Aurum of your own, you can learn how to purchase the Peak Prosperity Aurum pictured above by clicking here.

Click the play button below to listen to my interview with Adam Trexler (36m:59s):

 

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Mon, 01/20/2014 - 18:07 | 4349243 Looney
Looney's picture

I have a huge respect for all Goldbugs out there and agree with ABSOLUTELY all reasons for being a Goldbug.

However, these assholes upstairs WILL make holding/transacting in it as illegal as drugs, just as they did before.

Looney

Mon, 01/20/2014 - 18:07 | 4349297 Scarlett
Scarlett's picture

here comes f******g fonestar...

Mon, 01/20/2014 - 18:10 | 4349305 fonestar
fonestar's picture

Yes, here I am.

Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?

Mon, 01/20/2014 - 18:13 | 4349329 Scarlett
Scarlett's picture

god damn

Mon, 01/20/2014 - 18:45 | 4349453 SilverIsKing
SilverIsKing's picture

Good call

Mon, 01/20/2014 - 18:57 | 4349498 aVileRat
aVileRat's picture

God damnit, Phonystar has taken "talking your book" to an art form. Next time Carl iC. goes on stage at the comedy club, someone please suggest 'bitcoin nerds' as a set-up line. This guy is well beyond annoying. 

 

 

Mon, 01/20/2014 - 19:08 | 4349519 fonestar
fonestar's picture

I offer annoyance and trolling consultation.  0.12 BTC/hr.

 

1Aeg6RfVjiifEpD91VZRbH5KJPcQLhFZNJ

Mon, 01/20/2014 - 20:37 | 4349852 philipat
philipat's picture

"Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?"

No but it will be best to have a bag packed in anticpation of men with dark glasses in a black SUV.

Mon, 01/20/2014 - 21:03 | 4349935 giggler321
giggler321's picture

Assuming gov can afford black SUV's and well employing men to collect when there is no coffers

Tue, 01/21/2014 - 00:00 | 4350523 BoNeSxxx
BoNeSxxx's picture

1 Gram gold bar on Apmex = $50.

1 Gram Valaurum = $100.

FAIL

Tue, 01/21/2014 - 03:19 | 4350817 stacking12321
stacking12321's picture

i agree they need to bring the cost down closer to spot to make their product palatable, but cut them some slack, they need more volume to get there i'm sure.

i'd be happy to see this product taking off, being able to use real money (gold) instead of FRNs.

Wed, 01/29/2014 - 13:22 | 4380310 Jack Napier
Jack Napier's picture

Half of the point of holding gold and silver is that you can't track the stuff. The other half being protection from default and inflation at the same time.

If the government made everything illegal overnight, guess which money people would still be able to use without them knowing.

Hint: It ain't BitCoin.

Tue, 01/21/2014 - 06:05 | 4350955 MeelionDollerBogus
MeelionDollerBogus's picture

it's all about format. Pound the 1 gram yourself into a sheet like a paper bill.
See which one is easier to lose in your pocket.
I don't want any as I care to have my 0.1 oz maples & my silver maples & bars.
But I don't begrudge others wanting physical in a format that suits them.
In the end when gold's purchasing power exceeds 7000/oz in today's purchasing-power-dollars it really won't matter.

Tue, 01/21/2014 - 08:44 | 4351090 BoNeSxxx
BoNeSxxx's picture

That was my point exactly.  If the Prescious were to go to $7,000/oz, you'd be fool not to buy twice as much now in the form of gram bars (and why would you pound a gold gram flat)?  $50 is a 1/2 cart of groceries today.  And it will be a 1/2 cart of groceries at when gold is $7,000/oz too (priced in FRNs).

Perfectly barterable size in my view.  Call me when these bills are priced at spot or spot +10%.  Until then, I will use my FRNs as cost effectively as possible when stacking.

Tue, 01/21/2014 - 19:17 | 4353516 MeelionDollerBogus
MeelionDollerBogus's picture

Some people like flat leafs of money better than coins.
It's a preference.
Vietnam did that with gold taels.

Some things have a premium that doesn't change the same way with spot rising. For example, for the last 2.5 years my 0.1876 troy oz content (90% gold) coin, 20 francs Leopold II, has been around $360 CAD. Gold moved a lot, coin price did not.

Perhaps over time these bills would be like that. I certainly don't pay spot +10% for my 0.1 oz maples - they cost at least 22% over spot including shipping because if you want a smaller % you buy a larger size, period. 0.1 oz sounds perfect for bartering to me, however, whereas 1/2 oz gold is too precious. I don't buy that much groceries in one lot in one store & I wonder what I'd get in change - if any - because in SHTF change doesn't always happen.

Tue, 01/21/2014 - 09:59 | 4351333 painlord-2k
painlord-2k's picture

But how many MIBs the government have?
Because I foresee a certain degree of attrition if they go house by house asking for gold and bitcoin.
If they have a small number they will not able to affect the market and they will go after the easy targets only (like with speeding tickets).
If they have a lot, they will have to make contact with a lot of unsavory characters and this will cause a lot of work to do and a lot of injuries and losses (like going after all pot dealers).

Are the MIBs to be trusted by the government?
Maybe, just maybe, they will find dealing with the stuff will be more profitable than shutting it down completely. 

Mon, 01/20/2014 - 18:20 | 4349366 Landotfree
Landotfree's picture

Once this system blows up the least of your worries is going to be about whether or not the government thinks you can own gold.   IMHO 100s of millions if not billions of walking unfunded liabilities will have to be liquidated.   

BTW the government has no rights to imped my God given Rights.  

Mon, 01/20/2014 - 18:23 | 4349379 fonestar
fonestar's picture

Yes, If I want to send 18,000,000,000 satoshi to some shady character in Syria or Lebanon that is my God-damned given congresstitutionalist right.  And there's fuck all the government can do about it!

Mon, 01/20/2014 - 19:00 | 4349507 ZerOhead
ZerOhead's picture

"And there's fuck all the government can do about it!"

 

Bwahahahaha!

Mon, 01/20/2014 - 19:12 | 4349547 fonestar
fonestar's picture

Please explain what they could do about it?

Nothing.

Mon, 01/20/2014 - 20:07 | 4349739 Abitdodgie
Abitdodgie's picture

Fonestar , I admire you for your determination with the Goldcoin bugs , but I feel they are not going to get it.

Mon, 01/20/2014 - 20:10 | 4349751 fonestar
fonestar's picture

I don't care if they "get it".

I'm like Candyman, but you only have to say Bitcoin once for me to appear.

Mon, 01/20/2014 - 20:14 | 4349773 fonzannoon
fonzannoon's picture

Gold or no gold, bitcoin or no bitcoin. Anyone who refers their avatar in the 3rd person is a total putz. It's like Rickey  Henderson took a dump.

I can see why Chumba is on here. I understand why he retired from the comments section. I am trying to as well. You really want to see new people come on here and take over but this is like watching monkeys sling their shit all over the place. Pathetic.

Mon, 01/20/2014 - 20:22 | 4349798 fonestar
fonestar's picture

We don't have family names and christian names in the virtual world like you do in the p-world.  That's also why fonestar is never capitalized.  

fonestar forced many posters into early retirement.

Mon, 01/20/2014 - 20:26 | 4349824 fonzannoon
fonzannoon's picture

You probably have. I can only imagine how much time and effort you have spent to send us into early retirement. Actually I think this sets the scene pretty well.

http://www.youtube.com/watch?v=oNsMgl9KKIA

Mon, 01/20/2014 - 20:36 | 4349853 fonestar
fonestar's picture

fonestar had a similar effect upon the comments section of cnbc.com in June 2012.  It would appear that fonestar was about as popular with the stawks crowd as with the metals-only crowd.

Mon, 01/20/2014 - 20:41 | 4349871 fonzannoon
fonzannoon's picture

Many people on here own bitcoin. It is a great medium of exchange. Granted it is 100% traceable and does not avoid taxation, so it is a governments dream. The slamdowns are something you have to put up with, but hey, it's the government, they run the show in the digital world.  But It beats wire transfers and is pretty easy to use. I'm okay with it. I'd use cash for any transactions that I don't want tracked. 

Mon, 01/20/2014 - 20:31 | 4349838 chumbawamba
chumbawamba's picture

Actually, fonestar is an anagram of "one farts".  Coincidence?

I think not.

I am Chumbawamba.

Mon, 01/20/2014 - 20:32 | 4349845 Suisse
Suisse's picture

Did you ever get your IRS issues sorted out chumbawamba?

Mon, 01/20/2014 - 21:36 | 4349955 chumbawamba
chumbawamba's picture

Not exactly, but because I'm between realities right now they can't find me, and presently I have no assets to which they might attempt to attach a lien, I have nothing to worry about.  Nonetheless, when I return, even if they do recognize me, they won't be able to come near me without self-immolating.

The IRS is a paper tiger.  In short, they can only go after you if you don't know how they work.  The IRS is a glorified collection agency for the Federal Reserve System.  If you've ever dealt with a debt collector, and took some time to study the law a little, you realize you can make them go away pretty readily with a simple debt validation demand.  Well, guess what?  The IRS has the same duty to validate their claimed debt as any junk debt collector does.

And they never will.  Or even can.  Because you see, the "debt" here is one that they could never validate, or at least if they tried, they would blow the lid off of their scam and everyone would see the emperor has no clothes.  The way you become liable to paying income taxes is your volunteering to do so by signing a contract with the IRS at the beginning of every year to do just that.  It's called the W4 form, and your employer tells you it's mandatory, but unless you are one of the few people that is directly employed by the federal government in some manner, or derived your salary from a government source, it's not, and you aren't liable for income taxes.  And if the employer threatens to fire you if you don't sign it, they're toast, because they can't make you.  That's the gist of it, but it won't make sense, and you won't be successful in your attempts to fend them off should you decide to leave the plantation, unless you take the time to do the requisite research yourself.

The best resource for learning all about the history of the income tax and the IRS in the United States is here:

http://www.supremelaw.org/fedzone11/

Take your time and really absorb the material.  It's all there in black and white facts.

I am Chumbawamba.

Mon, 01/20/2014 - 22:13 | 4350194 lincolnsteffens
lincolnsteffens's picture

Thanks Chumba,

I think you are correct but I can't figure out the whole mess yet. One problem I foresee is if you

can in any way be considered a citizen of the Corporate Federal Government you are a taxpayer. This

is done through fraudulent contracts such as the birth certificate, social security, driver's license and

voter registration. I've revoked my voter registration and am working on the driver's license fraud.

I'll check out the site.

LS, the Muckracker

Tue, 01/21/2014 - 01:19 | 4350664 chumbawamba
chumbawamba's picture

Yes, and it's a real uphill battle in court.  However, if you know how to play the game, you can force them to prove the claim.  The one making the claim has the burden of proof, so if they say you are a taxpayer, a driver, a voter, etc. they need to bring the proof.  Keep the ball in their court and they will eventually foul, and they'll quit the game, and you win.

It's really as simple as that.  Once you know how the game is being played, you will beat them every time.

I am Chumbawmaba.

Tue, 01/21/2014 - 02:15 | 4350749 Four chan
Four chan's picture

schiffs dad was the master, and hes locked up.

and even though he was right and you are too

take it from a fellow patriot from michigan,

don't throw yourself in front of the juggernaught.

 

john gault will show you the way..out.

Tue, 01/21/2014 - 08:11 | 4351063 Papasmurf
Papasmurf's picture

If you don't have a job and you have no assets to attach, they're outta there.  Their agents go after the large low-hanging fruit.  They won't put a lot of effort to get little return.

Tue, 01/21/2014 - 00:09 | 4350551 BoNeSxxx
BoNeSxxx's picture

Chumba,

I came across an interesting paper on this very topic in some old source materials a friend sent me... It may all be old news to you but it's 100 or so pages so there may be something of interest to you in it.

Hit me up at my username at gmail and I'll send you a copy.

BoNeS

Tue, 01/21/2014 - 14:14 | 4352134 Silveramada
Silveramada's picture

or was fagstar?

Tue, 01/21/2014 - 06:13 | 4350966 MeelionDollerBogus
MeelionDollerBogus's picture

satoshiman

Satoshiman

SATOSHIMAN!!!

Tue, 01/21/2014 - 06:01 | 4350953 MeelionDollerBogus
MeelionDollerBogus's picture

#1 track your IP

#2 black bag on your head

#3 GITMO

end of story. CSIS would GLADLY help the Murrikinz come git ya & no other Canadians would question it.

Mon, 01/20/2014 - 21:59 | 4350130 Kirk2NCC1701
Kirk2NCC1701's picture

Newsflash: Until "God" or any other deity steps up and says you/we "have rights", you/we don't have any.  Other than those that you/we fought for with blood, sweat & tears. 

And 1776 is too long ago to still count, judging by the behavior of the Oligarchs.

No offense intended, but if you don't want to be treated like a sheep or a serf, stop talking, walking and acting like one. 

Tue, 01/21/2014 - 01:24 | 4350667 chumbawamba
chumbawamba's picture

Straight up.

I am Chumbawamba.

Mon, 01/20/2014 - 18:56 | 4349492 Pseudonymous
Pseudonymous's picture

 

 

Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?

I certainly wouldn't. I don't think any honest person here would.

Mon, 01/20/2014 - 19:13 | 4349552 seek
seek's picture

When gold possession was made illegal in the 1930s, I think there was a total of one prosecution.

While I'm sure thanks to the NSA they have a list of initial transactions that might let them try to prosecute more this go-round, that says nothing about where the gold goes after the fact, making recoveries nil. Plus prosecutions will likely take longer than the system will last once they get to the point of banning gold.

All a new "ban" on gold will do, like the same bans on drugs, is force transactions underground and stop transactions within the "legitmate" banking system, which will buy TPTB at most a day or two of additional life given how little Au is actually held by the public in the US.

Mon, 01/20/2014 - 19:24 | 4349598 bronzie
bronzie's picture

and the one prosecution was against someone storing a large amount of bullion in a bank and then having the balls to ask for it back

nobody went to the farm houses and knocked on the door: "excuse me sir, we've now made it illegal for you to hold gold - would you please hand over those $5 gold coins you are saving for your children?"

Mon, 01/20/2014 - 20:52 | 4349906 XitSam
XitSam's picture

In 1933, each person was allowed to keep 5 double eagles (a little less than 5 oz) in addition to numismatics.

Mon, 01/20/2014 - 21:04 | 4349939 giggler321
giggler321's picture

and with today's inflation thats?

Mon, 01/20/2014 - 23:19 | 4350415 XitSam
XitSam's picture

5 ounces of gold then is 5 ounces of gold now. How amazing is that?

Tue, 01/21/2014 - 03:45 | 4350848 giggler321
giggler321's picture

So they only let you have 5 because it's 5 and nothing to do with the dollar converted amount at the time?

Tue, 01/21/2014 - 00:00 | 4350546 Dinero D. Profit
Dinero D. Profit's picture

There will be sting operations galore if gold is outlawed. 

Mon, 01/20/2014 - 20:08 | 4349743 Abitdodgie
Abitdodgie's picture

The NSA could not find their way out of a wet paper bag.

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