Anyone who thinks about paying with gold is automatically catapulted back into the historical past of the financial system. But the precious metal is anything but “obsolete”, as is evident in the great interest of investors. Gold has long since established itself as a tangible asset in investment portfolios due to its stable value and crisis resistance. But in order to pay with gold and use the precious metal as a currency, smaller denominations and formats “suitable for everyday use” are needed. Harald Seiz, founder and managing director of Karatbars International, has developed a gold currency and concentrated on the smallest denominations of fine gold.
Anyone can afford this gold and it is suitable for cross-border payments that can be used for any product or service. Gold as a currency is not a utopia, but already an alternative to the risks of conventional monetary systems and government debt currencies.
The value stability of gold in retrospect and in looking ahead
The world has already experienced a number of inflations. Financial systems and state currency systems have collapsed, have been newly developed and have devalued again. This will not be any different in the future, Harald Seiz cautions, talking about strong external influences and their relation to the value of money. Paper money or coinage is only worth as much as the paper and ink with which it was made. Each state currency is a promise that the owner of the banknote can exchange it for goods or services. This promise becomes meaningless when a geopolitical decision leads to a crash of the financial market. Gold as a currency cannot be reduced to a mere thing, it cannot lose value, and it remains unaffected by wars and other forces. Gold’s stable value and a look back into its past are indicators that will continue to give the precious metal a positive and secure future. Gold is not subject to any major fluctuations in value, making it ideal for a currency with international validity. Those who want to remain liquid in times of crisis and secure their financial future should rely on gold and concentrate on gold as a means of payment in addition to conventional investments in large denominations. It is difficult to exchange pure investment gold for goods because the quantity is too large and trading can therefore be difficult. With small quantities, for which Harald Seiz advocates gold as a currency, anyone can rely on a currency that is stable in value and a means of payment that is valid at all times.
Gold has enormous future potential as a currency
Even die-hard optimists can no longer deny the fact that the world is falling apart and on the verge of upheaval. The current financial system is also slowly crumbling and is already clearly leading us to the conclusion that it will not be sustainable in its present form in the future. Economic, political and transnational crises can lead to the complete devaluation of money virtually overnight. The negative interest rate and the creeping expropriation of savers have laid the foundations for the collapse of the present financial system. Harald Seiz knows this cannot happen with real gold and therefore advocates a currency made of gold.