RE: Electronic Gold…
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I figure most people will not be using our Silver and Gold Coins… Most people will be using Silver Certificates and Electronic Coinage… Holding physical Silver and Gold Coins will not earn returns because of their stability… But it’s nice knowing I can hold as many Silver and Gold Coins I want… The only records we’ll need to keep will be the mintage numbers of our Silver and Gold Coins… Our Silver Certificates and Electronic Gold will Circulate freely, and will always be in perfect balance with our Circulating Silver and Gold Coins…. Banks will be required to have minimum amounts of Silver and Gold Coins on hand, just in case…
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If records are only mintage counts, how do you prove Certificates and Electronic Gold are one-to-one with there vault coins and avoid silent over-issue?
In a redemption spike, coins can drain fast, so a clear hard reserve ratio with realitme proof-of-reserves feels key.
Also, please spell out who books seigniorage and mint costs, and where the yield for holders of non-physical units actualy comes from if coins don’t earn returns :)
The U.S. Mint along with the U.S. Treasury will keep and maintain accurate records… It doesn’t concern me it everyone wants to hold their Money in Silver or Gold Coins… That’s their choice… When Silver and Gold Coins are removed from Circulations it means there will be less Silver Certificates and Electronic Gold in Circulation… Most people will be using Silver Certificates and Electronic Gold than Silver and Gold Coins…. You keep making things more complicated than they are… I do love being able to ease your concerns, so feel free to continue asking questions…