Gold Rush

Gold BarsHave you heard about the rising price of gold? Apparently it’s at an all time high, the Australian government had a tax bonus of around 10 billion Australian Dollars in the financial year just ended as a result of rising metal prices. Leading economists are predicting that the US Dollar is a currency of the past, it’s doomed, and that gold will skyrocket in the next few years. Check out Marc Faber’s Gloom Doom Report (new window).

As part of my recent tightening up of my online privacy, I’ve discovered a service called e-Gold. It allows you to buy physical gold online, and then make payments to other e-Gold customers or convert the gold into a standard currency through one of their associated agents. Unlike online services like PayPal, you don’t buy money with e-Gold, so you’re not subject to the standard money laundering regulations. You can create an account with a false name and send money anonymously from one account to another.

If you’re super cautious / paranoid you could create several accounts and load the money into one, transfer it to the next, and so on. While not strictly speaking anonymous, anyone trying to track you would be required to file court orders for each account, one at a time with e-Gold.

Aside from the privacy benefits, if you want to invest in the gold market, you can put money into an e-Gold account and then it’s value in your own currency (GBP, USD, etc) will fluctuate with the global price of gold. Check out this chart comparing gold against the US dollar (new window). It’s a hassle free way to invest in gold. The same company have sister services for silver, platinum and palladium, and funds can be transferred between the metals. For more information see the Wikipedia Article on e-Gold (new window) and the e-Gold Web Site (new window).

Just to be sure, this is not advice, any investments you make or money you lose are the result of your own stupidity, don’t go blaming me! 🙂

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