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What is a Sovereign Asset (to us)

Sovereign Assets

 

At the UK Online, we believe firmly in the sovereignty of the individual. But individual sovereignty is soon swept away when you have no resources to operate with.

In this essay, we look at two methods of becoming sovereign in the financial affairs of living alongside a system that is under full control of others, be they State, Bank or any other organisation or person/s.

1st Financial Asset – Silver

Many people know that silver used to be the backing commodity that the UK monetary system was tied too and backed with, what most people are unaware of is that UK coinage had the silver backing removed from it and was replaced with, well ...Nothing.

Essentially, the money we use has nothing backing it except the goodwill of the people using it. It has now become a credit system owned for the most part by the banks. We as people have no control over it or what can happen to it. This is not the place to go into depth on the pros and cons of the main existing system used by most people and organisations in the UK, suffice to say there are alternatives and silver is one of them.

At the time of writing this piece, silver had a “spot price” of around £20.00 per ounce of .999% silver by weight.

Individuals can buy silver from various sources, including the Royal Mint and have possession of it, both as coins and as ingots.

It is suggested that coins are the best to have as people tend to accept them easier that ingots for trading with. The fact that the “Spot Price” of silver is easy to check, also means the fairness of trading in it is hard to beat or deceive people with less than honest dealings.

One of the beauties of silver compared with other commodities like gold or platinum is the price of an ounce of “silver coin” is within the reach of most people to be able to get hold of and keep hold of, for when it may be needed, or as many are starting to do, trade with.

This isn't the place to go into the ins and outs of the silver markets and other points related to it, what is being put forward is for people to think about having a physical asset that will keep value when times get hard.

For a starting point in owning silver as a Sovereign Asset, It's suggested that people collect ten 1oz coins (kept in a secret place) as security for a future that is becoming full of uncertainty.

2nd Financial Asset – Crypto-Currency

We at the UK Online have for some time been researching Crypto Currencies and see the advantage of putting individual wealth into one of the various currencies that have been created over the last few decades. One of the key expressions that we constantly come across on the subject is:

“You become your own Bank”

So what does that even mean?

It means that you take full responsibility for your financial assets. You lose it, someone gets your passwords and empties your account, or you are deceived on a purchase, there is no one to call, the money management falls on your head, and yours alone.

The next fateful drawback about Crypto Currencies is the constant marketing of exchanges to see if you can increase your assets by gambling if the markets will go up or down. We suggest that everyone stay away from gambling as most people lose far more than they win, and the crypto markets have nowhere near the safeguards of most other kinds of trading exchanges. So unless you're a "trader" play safe and use the currency for what it was designed for, exchange of commodities or services.

So now on to the positive aspects of Crypto Currencies.

You really are your own bank. As are the people you will be dealing with in the exchanges you make of assets between yourselves. The system we recommend is totally decentralised so no existing bank or government can dictate how or where you use your assets.

We have started a section on Crypto Currencies on the main site which you can find here:

https://www.theukonline.net/stella-block-chain/

It is the Stella block-chain we recommend as a good one to learn about and the article gives links to additional information on the subject.