RE:RE:RE:India's Monetize Gold. Next step confiscation ?Spot on, Gramps. I think you are going to be my favorite poster here. I see India and other relatively decentralized economies as the tail wagging the dog for BitGold. (Maybe a golden retriever?...)
It would seem that GoldMoney's management agrees. Why else would they do the unthinkable and make buying and storing of gold free and frictionless, and rely only on (modest) transaction fees for their profit? That's a big incentive, as you say, for Westerners and others disillusioned with fiat to invest in gold through BitGold. But it's also an incentive for European and Asian merchants to free themselves from the banksters, holding their business capital in gold and using BitGold as their platform for everyday transactions.
As Jim Wille says, gold is coming in through the back door. Not as a new gold standard, but as a means of global trade settlement by business and government. To be sure, it's early days yet, but BitGold has a decent shot at being Everyman's version of that.