Bill’s Commentary:
“A pretty good synopsis! I would add this: gold nor silver can default in a world that is in the process of mathematically defaulting…”
Ronald-Peter Stöferle Reveals The Six Vectors of Gold Remonetization
A look at monetary history reveals that the question of “sound money” was never purely academic in nature but has always been of central importance for economic stability and social order. The past five decades of the pure fiat experiment are, measured against 5,000 years of monetary history, a brief anomaly. And anomalies tend to be corrected.
Our thesis of a remonetization of gold may seem bold at first glance, which makes a clear conceptual framework all the more important. Those waiting for the reintroduction of a classical gold standard will be disappointed: Governments have no incentive to voluntarily relinquish the fiscal and monetary flexibility that the fiat regime offers them. Rather, what is meant is a process in which gold regains monetary relevance. Not necessarily as money in the strict sense, but certainly as the ultimate reference asset for value, trust, and settlement.
Bill’s Commentary:
“What happens to your world when this is “structural” and not a technical glitch?”
Credit card outage hits convenience stores, other merchants across Japan
TOKYO – Credit cards could not be used at convenience stores and other merchants across Japan for hours on Thursday following a system outage that also affected some transportation companies’ credit card-linked electronic money apps.
Major credit card issuer Mitsubishi UFJ Nicos Co. said the trouble began around 8 a.m. when card payments could not be processed at some merchants, while Sumitomo Mitsui Card Co. reported a similar problem.
The card companies said the trouble was caused by an outage in an international credit card brand’s network connecting merchants with card issuers. Sources familiar with the matter said the outage occurred within Visa’s network.
Bill is interviewed by Dr. Dave Janda – (Also posted under Interviews)
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