#piratesunday: ‘Pirate Captain’ Harald Seiz of Karatbars

in LeoFinance2 months ago

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”Black birds tend to like shiny things.” ~ The Bloody Raven

“Ever heard of a gold backed Karatgold Coin KBC Billy?” As you might be aware that I am mirroring an old school meme of a seasoned Fishboat Captain asking the young man, “Have you ever been to sea Billy?”

Dr Harald Seiz founded the Karatbars International GmbH in Stuttgart Germany in 2011 and in 2018 on the heals of publishing his 2017 book “The Future of Money” His company launches the Ethereum based KBC token.

But before I get more into the Token, I was pleased to get my hooks into a few of these Karatbar notes.

The Gold

Karatbars 0.1g Cashgold
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Front; Green & Bronze background,Florals, Unknown Bearded fellow, pseudo-Metallic thread, Orion Constellation, Renaissance art, Sailing ship
Legend; CASHGOLD copy karatGold Corporation PTE Ltd.
Karatpay, In Gold we Trust

Since 2011, the note like this is a part of a line of Gold products produced and sold by Karatbars International. Unfortunately, his choice of marketing these products under a multi-level marketing and contract system had naturally bought about heavy criticism as a pyramid scheme.

Karatbars 0.1g Cashgold
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Personally, I have seen enough of @punkysdad’s note collection to recognize a well-designed quality banknote protected with an array of anti-counterfeiting features available with today’s printing technology. Intaglio printing process, ink composition, paper composition or polymer formulation, planchette or microfiber embedding, metallic thread, micro-printing, watermarking, holographic window or even a unique serial number are useful anti-counterfeiting features.

Close up of tiny gold wafer
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This is not a well-made ‘bank’ note nor was it really meant to be, by the fine print, No currency, For Karatpay use only But relying on the fact that the little overpriced gold wafer piece itself cannot be counterfeited, and that’s what really counts in this novelty note. At $1900 USD per Troy ounce, it works out to $6.10 USD worth of gold. So, yeah, I overpaid. Why?

Close up of tiny gold wafer
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I admit, I bought it not just for the itty-bitty micro fractional gold but for the fancy packaging with the Sailing ship on it!

And back to the Crypto version …

Still ranking around #445 of Marketcoincap’s list, the Token is allegedly backed to gold, so it’s meant to be a Store of Value with the low volatility of a Stablecoin. The Gold backing is purportedly claimed to be of, a yet to be substantiated, productive mine located in Madagascar. Right off the start the 2018 Initial Price Offering (IPO) of the Gold back KBC crypto currency was controversial as it came under investigation by the Florida Office of Financial regulation (OFR). As I understand it, proper prospectus reporting requires explicit list of not only the financial picture of the company but also in detail list the legal assets held. Lack of the minimum requirements would prompt red flags.

Speaking of Flags
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I have not read the book except for the Chapter 5 free sample read as Harald Seiz covers the inherent weakness of the fiat currency system that most of us are familiar with. Even quotes James Rickards in that chapter. He underlines that by citing many of the examples of Cyber theft and malicious hacking crimes that dot the headlines over the last 20 years.

Ending thoughts…

With the advent of Blockchain technology I can see why he would steer his company into this area of Gold backed Crypto tokens. A fun ‘Bank’ novelty note to have. Now if he could only shed that scam-ish aura about him. Great idea but terrible execution leaves me to wonder what Harald's doctorate was in.

I hope you enjoyed this very seaworthy feature

Thank you for stopping by my Pirate Blog today.



The #piratesunday tag is the scurvy scheme of Captain @stokjockey for #silvergoldstackers pirates to proudly showcase their shiny booty and plunder for all to see. Landlubbers arrrh…welcomed to participate and be a Pirate at heart so open yer treasure chests an’ show us what booty yea got!

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References

1. My own pictures shot with a Samsung SM-A530W
P. Image under Pixabay
R. Clip art from 123RF
W. Wiki Commons

Sources

Karatbars Website
Medium.com: Will Harald Seiz be investigated under economic criminal law?
Book: The Future of Money How Gold will revolutionize our method of payments



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Educating Africans to the benefits of the Block chain
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“Et lux in tenebris to serve laboro, sum sicarius” “I work in the shadows to serve the Light, I am an Assassin”

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Woot, woot.
Gold!!!

I've only shown my small gold so far and have yet to put out the BIG GUNS!
That I was saving for the Gold Rush story arc.
Thinking far ahead with this.

Always, with a golden love 🤗 🌺 💖

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Its a cool idea, but yes, there's the scammer side of karatbars. Cheers Kerris

Harald Seiz has the right idea, maybe he was getting bad advice.
In the end, physical gold in our hands is still real money.

Skol 🍹

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Harald Seiz has the right idea, maybe he was getting bad advice.
In the end, physical gold in our hands is still real money.

Skol 🍹 I've been here before.

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Harald Seiz has the right idea... something weird going on here. Deja vous!

Skol 🍹

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GOLD is a Gurl's Best Friend!!

NOICE!

1875 S double Eagle reverse.jpg

Check out this Bloody Double EAGLE 😂

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A Beaut alright @underground, I don't have any American gold yet as our Government charges a hefty 7% tax if I tried to get one from one of my E-tailers. With the continuing saga of 'Covid-phobia' I won't be able to source a private deal at my local coin show. I wish someone who make a Bullion version of this.

Thanks for dropping in ☠ ⚔ ⚓ 😘

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Very interesting Kerris, not my style but cool none the less.

They are not just for novelty, but just in case I get involved with a SHTF necessitated trade where my counterpart HAS to insist on payment in GOLD in ridiculously tiny amount rather than silver. It is a tiny chance, but I will have this base covered with this.

Thanks for coming aboard @silverd510

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so sexy!

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Sexy yes. Still, maybe I'd rather have a one ounce gold coin in hand than 311 of these notes all over my bed and rolling over them. Lol!

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Beautiful! I like gold, shiny things! These both fit the bill. Thanks for sharing sista!💜

Thanks, and Shiny it is @elizabethbit,

I don't know what it was sold for in Harald's Multi Level Marketing scheme but they still cost me double the spot price in gold, $12 for $6 worth of gold but may save me trouble in a SHTF scenario.

...but just in case I get involved with a SHTF necessitated trade where my counterpart HAS to insist on payment in GOLD in ridiculously tiny amount rather than silver. It is a tiny chance, but I will have this base covered with this.

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Excellent plan @kerrislravenhill!😎👍💜

This is the first I have heard of this Gold note. I think what makes this different is the small fractional Gold imbedded into this printed note. Real Gold, plus printed note ...very interesting @kerrislravenhill, I will look into this more, have a good weekend!!!
If you sneak across the border with an upvote in a brown paper bag, put one of these notes in the bag!😇

It's different from the Nevada Goldbucks style where the gold is applied to the surface of the note. I may get a few if they are available in Canada for posterity and comparison. FYI, Karatbars are sold by silvergoldbull.

Thanks for the comment @silvertop

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Thanks for the info @kerrislravenhill, both me and the Mrs each have one of the Nevada Goldbucks. Interesting notes, but I think the Karatbars that you have will be a better value to hold....😀

Thank You @kerrislravenhill that is the First Time I have Seen the KaratBar Note and Shiver Me Timbers Perfect for #PirateSunday.............

Aye, but beggin' yer pardon sair.
I draws the ole Jolly on th' sails t' make 'er a pirate ship. 😉

Thank yea fer comin aboard Guv'nor ☠ ⚔ ⚓

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I have links in my all posts... there you find more

Such a cute little piece of gold

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Hi @davedickeyyall,

Well cute but it's a good thing that these are in easy to handle Banknote styled "Holders" or these tiny little gold wafers could get blown away and get lost in an instant.

Thanks for looking!

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I like this gold money 😇👌👌👌

There are a huge variety of private issue gold notes in the market (Ebay) with the majority in the pure Novelty Classification and not intended for commerce because they don't conform to ISO9002 standards as a verifiably trade-able instrument. A few of the other brands suited for commerce and trade are;

Nevada Goldbacks

Silvergoldbull.com had their own but discontinued at this time but retails this Karatbars product.

Thanks for comin' aboard @foxkoit

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It is new thing and needs time that it start work , but I'm sure they soon find way it can work more good.

Lol, didn't take long to have this posted did you? Out gift order is inbound soon. Before Christmas!

I got your Text message this morning, Thanks PD!

Goldrooster likes gold!! A lot. Stuttgart you say? I can get there in 6 hours .......

And so do I, @goldrooster

Apparently he was bought before a German court on a Lawsuit. He did set up business in Florida but no mention whether he closed his Stuttgart Office or not.
Based on his book chapter 5, originally published in German, he seems to be on the right track on the demise of fiat currency system, the ensuing Financial disaster to come and that Gold will be the ultimate currency.
I can't get any information on how many of these Notes were made or whether they are still being made at all.
I can't go beyond the Glossy brochure parts of his website unless I am a member.

Yep... a sordid history but an excellent product — befitting of any scallywag Pirate!

It's still GOLD in my hot hands.
I hold it, so I own it!
(I drew in the Jolly Roger on the ship) and I think it's an improvement on the note design.

Thanks, for coming aboard Captain @thedamus

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