'We want to be a leader in the sound money movement'
An American company has announced it plans to stop accepting payments in U.S. dollars or other “fiat” currencies and instead will rely only on online payments.
Denver-based Amagi Metals, which deals in precious metals, noted in its announcement that since the dollar was decoupled from gold in 1971, it has lost 97 percent of its value compared to the yellow metal and 83 percent of its domestic purchasing power.
“The trend shows no signs of stopping,” the company said.
“Both investors and foreign governments have begun to lose confidence in the dollar’s future … and so has Amagi Metals.”
The company, therefore, plans that “by the end of 2016, the company will no longer accept U.S. dollars or other ‘fiat’ currencies.”
“Instead, Amagi plans to be trading exclusively in cryptocurrencies like Bitcoin.”