Interview With Free Market Money Guru, Jim Davidson of Vertoro -Final
What does financial freedom mean to you?
Financial freedom means being able to control the destiny of my wealth.
Do you invest your own money in gold or silver bullion?
Well, I’m basically a pauper. There are some assets that I have been asked to manage. Whatever ready money I have access to is stored in gold or silver, except for extremely current cash to pay actual bills now due.
Why?
Simply put, I don’t trust the governments that put their full faith and credit behind paper money. I believe the history of governments is such that only a fool would ever trust them.
If I gave you one full page ad, in the New York Times, Wall Street Journal and the Washington Post….for one full weekend (Fri, Sat, Sun editions), what would you say to those millions of readers?
If there were only one idea to convey, it would be the tremendous difficulty faced by people who have poor crypto. Look at Japan and Germany in World War Two. They had the very best mechanical cryptography systems, and they were utterly defeated by the USA and Britain, which had the very best digital crypto. Now, it happens that I’m working with a company in Houston, LightSpeed Systems, which offers encrypted root desktops and Rayservers brand encrypted root laptops. I think that secure data systems are very, very important. If you visit golightspeed.com you would get a glimpse of what we are doing. So, in terms of consumer products, that’s where I am. I really think selling gold and silver coins to the masses is going to be very easy in the next few years.
I am not a fan of credit cards. I recognize that last year was the first time since the great depression that the US population had a negative rate of savings, people actually had to dip into their savings just to get by, yet credit card debt continues to rise per US household. Open your wallet or briefcase and tell us, do you have a wallet full of plastic credit cards? Why?
I’ve been reducing. I managed to get one card company from a credit union to let me pay off the balances on two others. I plan to reduce further. But, yes, I have debit and credit cards. They are very handy for day to day transactions.
Can you give us three good reasons to be holding gold today and not US national currency?
1. The USA dollar is at parity with the Canada dollar, which is only part of the dollar index story. It is not going to get prettier from here. The USA is the world’s leading debtor nation. With oil no longer trading exclusively in dollars, a whole lot of dollars are going to want a better home.
2. Gold is better money. As Aristotle pointed out, it is consistent, unlike land. Gold is divisible, unlike works of art. Gold is convenient, unlike bars of lead. It is durable unlike bushels of wheat. It also happens to be ductile, malleable, conductive, and pretty. Taken together, these features have always made gold attractive. So, it is universally acceptable in exchange for whatever people are using for money locally in time and space. There is no better store of wealth.
3. The best calculations I’ve seen for the M3 money supply since the St. Louis Fed stopped publishing that figure in February 2006 or so suggest that the money supply is expanding by about 12% to 14% lately. Gold’s supply has expanded by about 2% per year for the last thousand years or so. And, the supply of gold is naturally scarce. The supply of money is up to the whims and psychoses of a few very dim-witted politicians.
I know over the past year or more the US dollar has been sliding down against all major currencies. Do you see this downward trend continuing?
Yes, I do. My friend Clyde Harrison said it best. Fiat currencies don’t float, he said, in August 2005. They sink at different rates.
By the end of 2007, the price of gold will have topped what number?
I’m going to say the ounce of gold at $950 and the gram of gold at $30.54.
Do you have a PayPal account? Why or why not?
Me, personally? Yes, I think so. I’ve had two or three over the years, and I have recently confirmed one for a very obscure e-mail address that I’ve been keeping. But, I don’t have any money in it. I don’t recommend PayPal for our digital gold clients. There have been a lot of problems with merchants who have PayPal accounts having their accounts frozen and funds seized or, at least, withheld for many months. There are accounts from company insiders which suggest that the pattern of frozen merchant accounts was part of a deliberate policy. While I’m not able to say for certain what to think of those stories, I think it best to avoid trouble whenever possible.
What is on the horizon for Jim Davidson and how can I learn more about it?
The next big thing is GoLightSpeed.com which is going public this Autumn. If we get it all done up in a package, we are told we can get $5 million for twenty percent of the company in a Reg A IPO. That means the whole thing is worth $25 million. A significant share is held for the various holders of stock in EZEZ, Reliable Laptop Distributors, and so forth. Within two years, I think we’ll raise a total of about $300 million to take that puppy global. At the same time, I have ambition to get out of the industry completely. I’ve put together a group to go after the Google Prize. We’re also talking very seriously about putting people on the Moon and Mars.
When you think about it, we’ve always lived in the Solar System. If you put a box around Earth, there would be no life inside after a few weeks. All life here depends on the Sun for light and on other space resources that come down as meteorites. In fact, most of the gold and platinum group metals are here as a result of asteroid impacts, according to the best current science. Well, most of the universe is not down here. It is out there. As a practical matter, that means that most of the wealth is out there, too. It is raining soup out there, and I’m going for a bucket.
How many gold or silver bullion coins do you have in your pocket right now?
Ain’t tellin’!
Why?
Well, for one thing, I’m sitting here in my pajamas. <smile>
Jim, I’d like to thank you for taking the time to answer my questions and I like to wish you the best of success with your future business.
Tags: e-bullion, e-gold, freedom, Gold, GoldMoney, Jim-davidson, liberty, Liberty Reserve, Liberty-Dollar, Pecunix, phoenixdollar, silver, v-money, VertoroRelated Stories
POSTED IN: Digital Gold Currency, Interviews
0 opinions for Interview With Free Market Money Guru, Jim Davidson of Vertoro -Final
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: