Money Repository or Money Warehouse

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ViennaSausage Posted: Thu, Nov 5 2009 2:10 PM

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I am doing research on the possibility of starting a money repository.  The money repository is essentially what Hülsmann terms a money warehouse.

This money repository serves the function of a bank, with the intent that it is a 100% reserve and the reserve is commodity backed money (most likely gold). 

Has there been actual businesses or modern case studies on rivalries based on the idea of competing money repository/money warehouse?  Are there any business in the world today that stores money at 100% commodity reserve?  The closet thing that comes to mind is GoldMoney.com

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Daniel replied on Thu, Nov 5 2009 2:56 PM

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ViennaSausage:

I am doing research on the possibility of starting a money repository.  The money repository is essentially what Hülsmann terms a money warehouse.

This money repository serves the function of a bank, with the intent that it is a 100% reserve and the reserve is commodity backed money (most likely gold). 

Has there been actual businesses or modern case studies on rivalries based on the idea of competing money repository/money warehouse?  Are there any business in the world today that stores money at 100% commodity reserve?  The closet thing that comes to mind is GoldMoney.com

Public storage companies come close. I think they're safer than banks because they are not regulated like the banking industry, thus, there are more markets that keep them in line.