Committee: Government representatives, University Professors, Graduate students, John Butters
Concept: To create a task force investigates the formation of an Ecuadorian Bullion bank. The purpose is to protect the wealth of the citizens through the ownership of silver (and other precious metals). Method: Ecuadorian business graduates under the guidance of an interested professor would provide the work. Ideally two business schools would be invited to present a thesis on how to form an Ecuadorian Bullion Bank. Bullion banks already exist in Canada and Europe. Other countries operate through independent corporations or coin stores.
After acceptance of the winning thesis a prototype "Ecuadorian bullion Bank " would be created with a limited amount of silver bullion.
Thesis to include:
• Government laws governing Bullion ownership • Importation laws etc. • Types of bullion • Purity of bullion • Form of bullion: coins or ingots • Restrikes of Ecuadorian Sucre currency or • Imported bullion coins (e.g. Liberdads, British, Australian silver) • Select fractional ounce weight and one ounce bullion coins • Bags of circulated silver (e.g. USA, British silver, German etc.) • Where to Procure bullion • Shipment methods • Insurance • Central Bullion warehouse • Bid and offer prices • Redemption procedure • Selection of bank or institution to act as agent to hold proceeds • Hours of operation • Advertising • Record keeping • Staffing and training
Advantages: The graduates would have a published thesis and University professors and college would have expanded monetary education into the modern era.
Mexico: The Mexican government is discussing monetizing the Liberdad silver bullion. Major western countries are minting silver and gold coins for citizens all over the world to buy