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Despite Ukrainian Chaos, Kiev Still Wants Gold

By Justin O'Connell on May 13, 2014

[heading]Despite Ukrainian Chaos, Kiev Still Wants Gold[/heading]

Allegedly one month ago, under the cover of darkness, Ukraine put its gold reserves onto a plane and shipped them to the US for safekeeping. (they should have asked Germany first about this)

Though this story is not confirmed, amid the chaos in Ukraine, the gold market keeps coming up. And for good reason…

Sure, Ukraine owes Russia massive gas debts and sizeable bond maturities pending. Nevertheless, the first thing Ukraine will spend its International Monetary Fund loan on is gold…one billion dollars worth of gold, in fact. This is a continuation of a trend in Ukraine.

American Gold Eagle Bullion Sales Decline

By Justin O'Connell on October 2, 2013

[heading]American Gold Eagle Bullion Sales Decline[/heading]

September is the second month in a row in which American Gold Eagle coins sold much fewer compared to one year ago. At the beginning of August, one month sales of the Gold Eagle reached a six year nadir.

Despite weakness in gold coin sales, the American Silver Eagle bullion coin has continued to sell and remains on pace for record annual sales.

Visa/MasterCard Will Prevail In US Over Bitcoin Despite “Swipe Fees”…For Now

By Justin O'Connell on September 28, 2013

[heading]Visa/MasterCard Will Prevail In US Over Bitcoin Despite “Swipe Fees”…For Now[/heading]

I spend a lot of time thinking about in which frontier markets Bitcoin is going to explode and really change the game of value. What grand equation can I concoct in favor of Bitcoin’s success somewhere? Not that I am trying to make things up as I go, I am just trying to be hip. But, I thought about something Wendy McElroy from The Dollar Vigilante wrote recently:

“Simplify, simplify.” — Henry David Thoreau

The Illusion Of Tangible Assets

By Justin O'Connell on September 27, 2013

[heading]The Illusion Of Tangible Assets[/heading]

Gold and silver investors have taken issue with Bitcoin, claiming that it is not a tangible asset, like gold and silver.

Their hypothesis is usually stooped in the notion that anything is truly “physical” as we perceive it in the first place. What if, counter-intuitively, the entire universe was composed of 0’s and 1’s itself? What if the universe was digital? Wouldn’t that mean that gold, silver, platinum and palladium are all, in fact, digital as well?

Why I Donated Bitcoin To The Acapulco Recovery Fund

By Justin O'Connell on September 24, 2013

[heading]Why I Donated Bitcoin To The Acapulco Recovery Fund[/heading]

By: Justin

When The Dollar Vigilante Jeff Berwick setup a fund to help Acapulco recover from a recent flood-disaster in which eastern regions of the historic city were badly damaged, if not nearly destroyed, I felt implored to send a little bit of my digital cash reserves to aid in the effort. I wasn’t the only one.

I had been chewing on the notion as of late that, in a peer-to-peer economy, such as what Bitcoin represents, the users themselves represented the “social safety net.”

Small Business Owners Speak Up: What Will It Take For Them To Accept Bitcoin?

By Justin O'Connell on September 22, 2013

[heading]Small Business Owners Speak Up: What Will It Take For Them To Accept Bitcoin[/heading]

BitPay recently announced their 10,000th merchant. Some reports posit the Bitcoin payment processor is growing faster than Bitcoin itself.

According to the press release, “The merchants in BitPay’s directory are diverse internationally, with approximately 50% located in North America, 25% in Europe, and 25% in the rest of the world.”

// < ![CDATA[ google_ad_client = "ca-pub-2352584218684642"; /* Bitcoinomics1 */ google_ad_slot = "4445144664"; google_ad_width = 336; google_ad_height = 280; // ]]>
// < ![CDATA[ // ]]>GoldSilverBitcoin recently interviewed small business owners who have yet to take the leap into the deep-end and accept Bitcoin full-time.

What we got were varied answers. There was one somewhat common theme: vendors who simply hadn’t heard of processors like BitPay or CoinBase, which allow small businesses to convert their bitcoins to cash within a few business days. Many small business owners worried about their company’s cash-flow, first and foremost. Others worried about reputation, and the reputation Bitcoin brings.

American Silver Eagles Second Highest Sales Yearly

By Justin O'Connell on September 21, 2013

This past Monday, 675,000 Silver Eagles were purchased, marking one more milestone as their total this year sold has hit 34,925,000. Annual sales rankings for…

“Ben Bernanke? Oh yeah, that bearded Jewish Guy. What’s He Do?” or The Stage That Is Economic Policy

By Justin O'Connell on September 19, 2013

[heading]”Ben Bernanke? Oh yeah, that bearded Jewish Guy. What’s He Do?” or The Stage That Is Economic Policy[/heading]

By: Justin

Ben Bernanke spoke today. If you don’t know who Ben Bernanke is, he is the Fed Chairman. What’s that? That’s what Alan Greenspan was before him. Yeah, we’ll get a new one soon.

When Benny & his jets (colloquial reference to his money-printing habits) speaks, the market listens.

What does it mean when the market listens?

It means that everyone gathers around television cameras and pundit typewriters and yells or types really loud and eventually certain screams and typing become louder (EVEN ALL CAPS). And then the robots take over.

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