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| PNG image showing the price of gold over the last 30 days. This chart will change with the price of gold and will be updated by goldprice.org |
Lowest exchange rate for the proposed international standard value unit - Valun - rises from $2.45 to $2.46
NOTE: There is no such thing as a Value Unit (Valun) either as a trading vehicle or a circulating currency. These estimated values represent the results of an experiment only.
On
29 July, 2020, the price of gold closed above the close on 28
July, 2020, so a new inception point, always higher, never lower is
henceforth adopted. All contracts that would be in force during the
brief 16th inception period have now been raised 1 cent
American to $2.46. Henceforth, no Valun will ever trade for anything
less in US dollars.
Did the precious metals markets just hit their summit and prices are headed down from here? Who knows except perhaps THEM. It's THEIRS not yours, remember that. That's the first lesson Riegel has to teach us, the absolute illegitimacy of THEIR money. The second lesson is that all of THEIRS works the same way, a commodity in a monopoly position determining the prices in all other commodities. All commodities markets are driven by speculation, betting on whether the future price of a load of said commodity is going up or down. No producer has any control over that at all. AT ALL. They can participate in the markets by producing and selling into them, but the owners of the money determine the prices for everything else. After all, the purpose of money as Riegel agreed, is to measure value in a trade, not to store value, unless the commodity used is participating in the trade; if you decide to pay in precious metals, you should get a fundamentally lower price as measured in the de jour currency ; US dollars. The same should normally be true if cryptocurrencies are used; you should get a better price if you decide to deal in them rather than the de jour currency. So obviously both buyer and seller have to decide to trade using them. The same would be a requirement of participation in a Valun based parallel economy.
Did the precious metals markets just hit their summit and prices are headed down from here? Who knows except perhaps THEM. It's THEIRS not yours, remember that. That's the first lesson Riegel has to teach us, the absolute illegitimacy of THEIR money. The second lesson is that all of THEIRS works the same way, a commodity in a monopoly position determining the prices in all other commodities. All commodities markets are driven by speculation, betting on whether the future price of a load of said commodity is going up or down. No producer has any control over that at all. AT ALL. They can participate in the markets by producing and selling into them, but the owners of the money determine the prices for everything else. After all, the purpose of money as Riegel agreed, is to measure value in a trade, not to store value, unless the commodity used is participating in the trade; if you decide to pay in precious metals, you should get a fundamentally lower price as measured in the de jour currency ; US dollars. The same should normally be true if cryptocurrencies are used; you should get a better price if you decide to deal in them rather than the de jour currency. So obviously both buyer and seller have to decide to trade using them. The same would be a requirement of participation in a Valun based parallel economy.
Briefly recounting past inception points:
2 November, 2011 – First inception – V1 = $2.16
9 April, 2020 – Second inception – V1 = $2.17
14 April, 2020 – Third inception – V1 = $2.20
23 June, 2020 – Fourth inception – V1 = $2.21
29 June, 2020 – Fifth inception – V1 = $2.22
30 June, 2020 – Sixth inception – V1 = $2.23
7 July, 2020 – Seventh inception – V1 = $2.24
8 July, 2020 – Eighth inception – V1 = $2.26
20 July, 2020 – Ninth inception – V1 = $2.27
21 July, 2020 – Tenth inception – V1 = $2.30
22 July, 2020 – Eleventh inception – V1 = $2.34
23 July, 2020 – Twelfth inception – V1 = $2.36
24 July, 2020 – Thirteenth inception – V1 = $2.38
26 July, 2020 – Fourteenth inception – V1 = $2.39
27 July, 2020 – Fifteenth inception – V1 = $2.43
28
July, 2020 – Sixteenth inception – V1 = $2.45
29 July, 2020 – Seventeenth inception – V1 = $2.46
29 July, 2020 – Seventeenth inception – V1 = $2.46
It is part of this blog's experiment to keep the Valun exchange rate measurements up to date with the current prices of gold and silver.
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