{"id":20358,"date":"2021-11-12T15:29:16","date_gmt":"2021-11-12T23:29:16","guid":{"rendered":"https:\/\/setapartbytruth.org\/wordpress-watchman\/?p=20358"},"modified":"2021-11-12T15:09:06","modified_gmt":"2021-11-12T23:09:06","slug":"venezuelans-turn-to-gold-nuggets-as-the-local-currency-implodes","status":"publish","type":"post","link":"https:\/\/setapartbytruth.org\/wordpress-watchman\/venezuelans-turn-to-gold-nuggets-as-the-local-currency-implodes\/","title":{"rendered":"Venezuelans Turn to Gold Nuggets as the Local Currency Implodes"},"content":{"rendered":"

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Cryptogon – November 1, 2021<\/p>\n

Dealing with physical gold in fractions of a gram seems extremely cumbersome, and, are vendors confident that they\u2019re being paid in actual gold?<\/p>\n

With the use of cryptocurrencies booming in Venezuela<\/a>, I wonder if people are using any of the gold backed cryptos<\/a> for the purposes described in this piece?<\/p>\n

The most bugeyed Cryptogon readers will wave red flags and warn that these gold schemes could be scams. I understand this sentiment.<\/a><\/p>\n

But\u2026<\/p>\n

If the point of using the physical gold is the protection it offers against the maniac state\u2019s fiat emissions, it might make sense to use tokenized gold for day-to-day business operations. While tokenized gold isn\u2019t physical gold, my guess is that there\u2019s a good chance that alleged physical gold isn\u2019t actual physical gold, in some cases.<\/p>\n

If I was running a business and accepting payments in gold, I\u2019d rather have tokenized gold than some yellow shiny stuff that came across the counter. Tokenized gold can be easily transferred anywhere, divided and, depending on the crypto, ultimately redeemed as physical gold. Allegedly physical gold, that is.<\/p>\n

Keep in mind, actual physical gold can\u2019t be disappeared by an EMP, a teenage hacker or a quantum computer.<\/p>\n

Maybe business people could use tokenized gold for small amounts and eventually sweep these into a larger bar, or some other asset, for long term wealth preservation.<\/p>\n

https:\/\/www.cryptogon.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptogon – November 1, 2021 Dealing with physical gold in fractions of a gram seems extremely cumbersome, and, are vendors confident that they\u2019re being paid in actual gold? With the use of cryptocurrencies booming in Venezuela, I wonder if people are using any of the gold backed cryptos for the purposes described in this piece? … Continue reading Venezuelans Turn to Gold Nuggets as the Local Currency Implodes<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[18],"tags":[2806,149,703,16256,307],"class_list":["post-20358","post","type-post","status-publish","format-standard","hentry","category-warning","tag-cryptocurrencies","tag-economy","tag-gold","tag-physical-gold","tag-venezuela"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8fAkI-5im","_links":{"self":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/20358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/comments?post=20358"}],"version-history":[{"count":1,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/20358\/revisions"}],"predecessor-version":[{"id":20359,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/20358\/revisions\/20359"}],"wp:attachment":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/media?parent=20358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/categories?post=20358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/tags?post=20358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}