The Real Debate: Gold vs. Paper

In an epic meeting of economic intellects, Peter Schiff and Roy Sebag talk about Goldmoney’s recent acquisition of SchiffGold and the coming revolution in value transactions. Peter and Roy also discuss the special properties of gold that make it the best standard for backing currency, Goldmoney’s potential to change the way we buy, sell and save, and how crypto currencies and the internet are making banking systems irrelevant.

Highlights from Peter and Roy’s talk:

“When people have a choice in a free market, gold generally ascends as money. It’s always the time superior element because of the physics. It has nothing to do with the economics. Take any item that you can touch or feel through which you make any good or produce any service and you’ll find that it has what’s known as a life cycle. It starts to decay from the moment it’s exposed to oxygen. Gold is this weird, alien metal that, for whatever reason, at the inception of the universe it had some thermonuclear reaction. It’s immutable…It’s always time superior in every economic transaction. In a free market, gold will ascend as money.” – Roy Sebag

“Look at the way Airbnb is changing the way people book a hotel. Look at the way Uber is changing the way people hail a cab. The internet is empowering the consumer in ways that were impossible before. Goldmoney empowers the consumer in the ultimate way. Now, he’s not just empowered to hail a cab using Uber, but he can pay for it using gold. More importantly, he can save his money in gold up until the point he has to use it.” – Peter Schiff

“In many cases, going to the ballot box and voting is a waste of time. There’s just not enough people that are going to join us to outvote all of the people who have such a big vested interest in preserving big government. But where you can vote is where it counts: with your money. You can vote with your feet. You can reject government money and put yourself on the gold standard. You don’t have to wait for the government to do it … just reject it. Don’t use their product. Don’t use their money. Use real money.” – Peter Schiff.

“What crypto currencies and Bitcoin showed us was … how we can exchange value outside the banking system. We no longer need the banking systems to exchange value with one another. It’s almost like a light bulb moment … the only reason we used the banks was because they paid us interest … so now that banks have stopped paying us interest … the banks have become exposed … in terms of no one needs to use them anymore.” – Roy Sebag.

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