BarronCoin Backed By Gold Sounds Like A Cryptocurrency Worth Owning
Gold took it on the chin this week, dropping $100 on the futures and spot prices. It was up around $350 in 2025, making for a 3.5 steps forward and one step back action. Interestingly, the inflows to the gold ETFs were up dramatically during the week and deliveries of physical gold behind the paper gold derivatives remained very powerful.
Looks like the action may have been affected by a leak that this weekend Trump would announce a crypto reserve. Which he did on Sunday afternoon.
It makes no sense to me why they would use Bitcoin and other crypto related ‘assets’ (yes I use that term loosely) to create a reserve. When they can just create their own cryptocurrency.
Buying Bitcoin now is buying after the pump while it is trading at the highs. Bitcoin is a Ponzi scheme wrapped in a mania and they would be buying at the top. Instead of creating their own Ponzi scheme and load up their friends and family, then make a new crypto mania.
They already tried the MEME coin scam with the Trump and Melania coin launch on the weekend before Trump took office. Why stop there?
I notice the DOGE crew hasn’t looked into that kind of fraud and abuse. It’s almost like they are only interested in getting their political opponents I dare say.
Instead of buying pumped up Bitcoin, or floating MEME coin scams, create a winner of a cryptocurrency that is backed up with gold. They could call it the BarronCoin.
Bitcoin is backed up by nothing more than hot air and a hype machine, while the US dollar is backed by nothing other than debt. The added benefit of having BarronCoin backed by gold, is that it would put pressure on the US dollar and Trump could get his wish of having the US dollar much cheaper to help with the trade deficit.
Damn, if they backed the BarronCoin, I may have to buy some. I’m starting to convince myself of its merits.
Plus, it would give gold another reason to go much higher. We already have the Death Spiral of Debt, unsustainable growth in the cost of servicing the debt, a US dollar that keeps destroying purchasing power, a broken global fiat currency and debt system, and now stagflation lurking as the gorilla in the room.
The brave new world with the Gold Standard 2.0 is happening in real time.
All the best,
Allan Barry Laboucan
