Would You like to Pay by CheckJoin now to read essay Would You like to Pay by CheckWould You Like to Pay by Check, Cash-or GoldIn this article, a man named James Turk thinks that people should pay for things with gold instead of cash. A lot of companies are taking in consideration the idea of paying each other with gold. Founded by Mr. Turk, goldmoney.com currently has over 20,000 users, which has doubled since a year ago. This company is following a company called e-gold.com. Other companies are following along with this idea. For example, e-bulion.com has recently sprung up into the gold payment industry. Mr. Turk says that gold has a historic role of being the nation’s currency. The usual users of these companies tend to be small-business owners. They use this because they are worried about currency fluctuations.
In December, the Federal Reserve said it was trying to regulate the use of gold by its investors. Investors have since bought and sold more than a million dollars worth of gold. In 2011, The Federal Reserve said that gold is considered an undervalued commodity and it could have a serious negative economic impact on the U.S. if it wasn’t used for its real-estate purposes. [2] Other economists have suggested that the U.S. could face another recession, as low gold prices, volatile monetary policy and the global financial crisis made gold a central asset for big banks, investors, and governments across the world.
This article originally appeared on The Conversation. Read the original article.
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By Dr. John H. Kresser
I think that people shouldn’t be able to pay for things with gold