I'm in the process of writing a
future bestseller book on the different options for storing gold overseas. I'm writing a chapter on a Dubai company called
E-Dinar. While E-Dinar is more of a payment processing company than a storage facility, I'm convinced their innovative business will serve as a model for making worldwide payments in Western countries within 20 years.
Imagine a world where you buy clothes, fix the refrigerator, make a car payment or order a new printer without involving the banking system. That's what E-Dinar does. Each person/company opens an account which owns gold and/or silver. To make a payment you simply log-on to your account and send gold or silver to another person/company's account. Unlike a bank, E-Dinar doesn't lend out your money so the gold/silver showing in your account is 100% backed. Moreover, E-Dinar is just an intermediary and isn't the custodian of your gold/silver so if they fail you have no risk of losing your gold/silver.
Of course, the Federal Reserve and U.S. government will do everything in their power to stop companies like E-Dinar from operating, because they want to control money. Once that fails, I'm convinced this is the system we'll be left with.
