Can Virtual Money be backed by Gold?

Frank Holmes, Michael Hudson and Chen Lin return as guests on this weeks program.

Last time we talked with Frank he suggested that China is leading the world toward a crypto currency that would be backed by gold. But does a gold-backed crypto currency make sense if the Chinese virtual currency is engineered to remove all freedoms and liberties from every human being by governing where you go, what you buy, and what you are allowed to believe?

By contrast, gold has served as the most fair, egalitarian and pro free- market money ever used by humankind. While gold systems have in the past helped to slow down government theft by way of inflation, is there any reason to think the Chinese Communist Party would allow a gold-backed monetary system to lead to a free-market capitalist system? What would be the purpose then of China backing a digital Yuan by gold? Those and other questions regarding money and other market matters were discussed with Frank who is the chairman of HIVE Blockchain Technologies a company that mines Ethereum.

We got Chen Lin’s latest views on China as well as on gold and biotech markets, and Michael updates us on one of the most exciting emerging copper-silver discoveries in the world. 

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Frank Holmes bought a controlling interest in U.S. Global Investors in 1989 and has led the company, as CEO and CIO, to become a go-to destination for investors seeking exposure to gold, natural resources, emerging markets and more.

His award-winning CEO blog, Frank Talk, is one of the very first to appear in the world of finance. More than 40,000 investors subscribe to his weekly commentary in the Investor Alert newsletter. Frank is a regular commentator on top financial outlets like Bloomberg and Fox.

His frequent travels helped inspire him to launch the U.S. Global Jets ETF (JETS) in 2015, still the only ETF on the market that focuses on the global airline sector. He followed this up, in 2017, with the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), which provides investors exposure to precious metals miners.

Sign up for Frank Holmes’ newsletter and see our YouTube page at Follow @USFunds and @bulldogholmes on Twitter.

Chen Lin had been a doctoral candidate in aeronautical engineering at Princeton. However, Chen found his investment strategies were so profitable that he put his Ph.D. on the back burner to devote full time to private investing and writing a newsletter titled “What is Chen Buying? What is Chen Selling?”  Chen’s track record has been phenomenal!  In one account we tracked, in which he used no leverage, he was able to grow $5,411 starting in 2002 to over $2.2 million by the end of 2012.  You can visit his website at 

Michael Hudson is Director, CEO and Chairman of Hannan Metals. For the past 28 years he has developed and financed mineral exploration properties worldwide. He graduated from the Univ. of Melbourne in 1990 with a B.Sc. (Hons 1st) in Geology and received the Tolhurst Noall Prize for “Mining Investment Analysis” in Victoria, Australia for the FINSIA Graduate Diploma. He started his career in 1990 with Pasminco Ltd, the largest global integrated zinc producer during the 90’s, and spent ten years working with zinc-lead projects worldwide from exploration to pre-feasibility projects in Pakistan, Australia and Peru. He has raised over US$100M for primarily European focused exploration and project development in Finland, Spain, Portugal, Sweden and Ireland. Since 2004 he has headed Mawson Resources Ltd as founding Chairman, CEO and Director. He is also a founder and Chairman of Leading Edge Materials, a critical metals company in Sweden and a director of Hydro66 Holdings Corp.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.