A2A with Stephen Macaskill, CEO of Amagi Metals

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Online precious metals dealer, Amagi Metals, is also one of the largest Bitcoin retailers in the world. Earlier today, CEO Stephen Macaskill joined us for an insightful discussion of gold, silver, sound money and crypto-currency.

Again, what makes Amagi Metals unique is that they accept Bitcoin as payment for your physical precious metal purchases. Anyone preparing for the end of The Great Keynesian Experiment and is saving/insuring with both gold and bitcoin, should be sure to check out their services. You can find more information here:

http://www.amagimetals.com/

TF


32 Comments

47 Protons's picture

furst

furst!!!

Now, onto the Bitcoin fun!!

Peoples Front of Judea's picture

2nd

now the podcast

Owtovit's picture

Turd

Gotta say it!

Hellfish's picture

Three morons.

Three morons.

Owtovit's picture

@ PFOJ

Or should that be JPF....

You Python u......

luvit!

47 Protons's picture

Other Crypto Currencies

Here's the bandwagon of crypto currencies...  http://coinmarketcap.com/

They will probably add "Litecoin"... I doubt it will be the crypto equivelent of a troll which is called "Goldcoin".

-e

ps. Sorry for not dragging my ass out of bed in time to contribute to this A2A!  my bad!!

Keg's picture

Turd

Yes I do like beer.  Even brew a lot of my own.  But the name came from my college days.  I had a van (complete with shag carpet and wood paneling), picked up and hauled the beer to our fraternity house.  No small job with the quantity we went through, 50-60 kegs a year. 

SS121's picture

good listen...

i didn't get up in time to contribute either, but enjoyed the posted A2A.

As before, from this monetary perspective these cryptocurrencies appear to be shaping up as the World Fiat Currency System's "last hurrah" prior to Silver and Gold returning to their monetary role (as they have done hundreds and hundreds of times over the past several thousand years).

A thought toward the discussion of gold backed cryptocurrencies, or even gold backed fiat currencies within the existing system- 

The systemic components of what we have today will go away before the fiat currencies go away. 

Meaning, fractional reserve banking, central markets controlling prices etc. will go away, but the masses will still be using Dollars or Yuan to buy cheeseburgers and such, just as they do now.

But the death of the systemic parts will lead to a situation where fiat currencies are essentially backed by Silver and Gold in that they are 'exchangeable' in what will be the real market.  Real market being one person exchanging currency to another person for silver and gold. (it will be for 100s/1000s of today's systemic controlled prices.)  just a thought.

But anyway, Bitcoin et al. are part of what is happening and where we are in this Monetary Cycle, so it was good to hear Stephen's perspective as a dealer who is currently operating in that arena.

There are so many Macro system conflicts getting ready to resolve themselves.  For example-  Bitcoin is a play against the system... but the system controls the silver/gold price with it's charts/markets.. 

...so how will Bitcoin replace the old "legacy" system without either A- killing the charts which unleashes silver and gold and thereby kills Bitcoin, and the system,  or B- reveals itself to actually be part of the system, leading to a quick implosion and an acceleration of the overall fiat system toward it's natural death??

Bitcoin/cryptos, and the 'system'.  All will be revealed shortly.  Either way, a cancerous tumor can never kill it's host organism and then live on in it's place...  -and-   Only Silver and Gold are Money, and they ALWAYS return to their monetary role.

Again, enjoyed the very very timely A2A, thanks again to Stephen and TF.

KS !

GoOto123's picture

Crypto

I still have a problem with crypto currencies not being tangible.  When the paper money goes worthless, at least you have paper left over to wipe your bottom.

I do have an issue stating that a crypto currency has a finite number.  Yes, there might be a finite number, but that number can be divided infinitely!

ggnewmex's picture

Just to get it off my chest

MyRA---

"ummm, excuse me, Mr President. Let's say I contribute 100k over my working career, and then I die before I can take

it out. Does my family get the money back, or do you keep it?"

Mr President responds, " You ask too many questions, if you keep this up, you will be arrested and tried for treason, and then you will get nothing back! Now shut up!!"

WOW, how far we have fallen

gg

Marchas45's picture

I Sold Mine

I listened but it didn't win me over. I bought a BitCoin about 3 weeks ago and sold it last week for a $75 loss as I just couldn't handle it  (pardon the pun) it was driving me crazy. At least I tried. It was just like putting my fiat in the bank with no control over it, so out it came. Lol

ArtL's picture

BTC flowing into china today

follow the flow

fiatleak.com

SaratogaPrepper's picture

Great interview

Liked when he talked about all the electricity going out, ain't gonna happen and if it actually ever does, you have bigger worries than a few dollars in cyrpto. I've seen too many times, in my 32 years of utility work, what people are like after a few days without power. And that's with them knowing it WILL be back on eventually, it's only an ice storm, happens every year up here. I don't even want to think what it will be like if............... (Ag and Au ain't gonna help you either, you're gonna need Pb).

I have ~1.7912 bitcoins that i've traded up on BTC-e.com from a $75 investment (I'd spend more on a bottle of scotch). Daytrading between bitcoins and litecoins. Haven't made a trade in a week or so, price seems to be stablizing. Plus I bought 200 ripples for $5, now worth $4.

Smart guy, level-headed. Went to the same school as my daughter. Bought a few of the new maples from him. Prices right in line with my favorite, Provident. Amagi accepts Amex like Provident also. If bitcoins price levels out I may end up trading some of them in for some silver from there.

ArtL's picture

I just traded some BTC for ASE

I prefer ASE for stacking, and BTC for buying and selling.

tmosley's picture

I might just buy a roll of

I might just buy a roll of silver rounds from Amagi come Feb 1st, when I will get a nice 1 gram heart with the code ILUVSILVER.

Sad to see so few understanding bitcoin's potential, but I guess, like the fiatbugs, most will have to get smacked in the face with it a few times before they start to understand it. Then the wailing and gnashing of teeth. If not already.

Also:

>buying bitcoin for dollar based speculation

Jesus, it's like you are TRYING to get fleeced.

silver2013's picture

Does anyone know whats going

Does anyone know whats going on with metals? I wad expecting 1280. Wtf??

SteveW's picture

What's going on with metals

Todays smash around COMEX opening was to set the tone for today and discourage longs to put up full margin since today is first day notice. The preliminary figure for February deliveries is 8,988 contracts or 898,000 oz. Registered gold totals 439,900 oz, so it should be an interesting month.

The sideways action on tonight's Globex, i.e. lack of any bounce back, might suggest more selling when London opens in about 4 hours to take advantage of the big Asian lunar holiday.

Finally TF has somewhat promised a Valentine's gift of $1,320 gold, although no hat eating will be involved.

But then WTFDIK.

infometron's picture

George Magnus: The next economic crisis has already begun

Well worth watching imho

wildstylechef's picture

CREDIT SUISSE: Gold Could Fall To $1000 This Year Read more: ht

Where do they dream this crap up and now they are doing comics for the idiots

Desperation knows no bounds especially with the Swiss where the furnaces are 24/7 melting gold for the Chinese

Wholy CRAP What a load of out and out lies "Indian gold imports have plumeted" "Central banks have not bought more gold due to falling prices" hahahahahahahahahaha pure desperation

http://www.businessinsider.com/credit-suisse-gold-1000-2014-1?utm_content=&utm_medium=email&utm_source=alerts&nr_email_referer=1

http://static3.businessinsider.com/image/52e997e3eab8ea8768c8b0bb-1200-2576/1goldfinal4.jpg

Peoples Front of Judea's picture

@owtovit

LOL...I thought about WELEASE WODGER  but i went with the PFJ...couldn't go with the JPF their a bunch of splitters....cheekycheeky

hindsight101's picture

good points

my take is that if bitcoin is so great why are silver and gold so weak..?

Bollocks's picture

@PFOJ

So "Biggus Dickus" was clearly not an option either.

tmosley's picture

GOFO rates started declining

GOFO rates started declining across the board today.  Looks like whatever source they were using to keep London liquid is running out.  Perhaps it was JPM gold?

Orange's picture

Bitcoin

Interesting discussion, sorry I could not participate real time.

We all know the US dollar can go to zero. Is there any chance that Bitcoin will lose its tradable value? I would prefer if it is backed by gold, silver or some asset.

Turd Ferguson's picture

Actually, very similar to December

MODERATOR

1-month GOFO peaked at 0.07167% on 11/29 and was in backwardation by 12/9.

tmosley's picture

Orange: I don't think so.

Orange:

I don't think so. That is very difficult to do without creating a centralized system that is trivial for the government to take over or destroy.

Bitcoin is powerful because it is (in most ways) perfectly decentralized. You would have to corrupt more than half the miners to stop it from working, and you would have to continue your attack forever. Even that wouldn't destroy your bitcoins, you just wouldn't be able to transact with them.

Bitcoins are very, VERY useful when separate from PMs. They form a perfect transactional currency that makes Freegold possible, if not inevitable, much to the chagrin of Freegolders, who wanted governments to be able to print the transactional currency at will for some insane reason.

infometron's picture

The main idea behind bitcoin

For those seeking an intuitive and basic conceptual understanding of the main idea (The Byzantine General's Problem) underlying bitcoin: http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

Orange's picture

Thanks tmosley

Thanks to Turd and Stephen as well, I think I will investigate Bitcoin.

Orange's picture

Thinking out of the box

As I still know very little about Bitcoin, it did get me thinking.

I suppose if you wanted to let your kids inherit savings above the anything that would have estate or inheritance tax, Bitcoin might be a way.

My opinion is after paying tax on earnings, numerous taxes on spending, they have absolutely no right to anything when we die.

Dismantle big gov. everywhere.

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