Quintric
Quintric™

Conclusion

Conclusion

The Quintric monetary system aims to enable citizens around the world to exercise true choice in currency, thus reaping economic, tax, and cultural benefits for themselves and their communities.  A number of jurisdictions have enacted legal tender laws reflecting a public policy highly supportive of the circulation of specie legal tender as a complement to the predominant, debt-based, paper currency.  

In the U.S., for example, such policies include the requirement that "amounts received from the sale of gold shall be deposited by the Secretary in the general fund of the Treasury and shall be used for the sole purpose of reducing the national debt."37  In addition, as a measure clearly designed to benefit the U.S. economy, federal law directs the Secretary of the Treasury to mint enough gold dollars "to meet public demand" and to do so "by purchase from the natural deposits of the United States."38  

Until the advent of Quintric, workable solutions for accessing the power of the diverse, yet universal, sound money that gold has always been, seemed beyond grasp of most individuals and entities.  Quintric makes the use of specie legal tender not only a viable, but a highly attractive option as well.  People can now save and spend real money offering a whole host of societal and personal benefits, not the least of which is meaningful participation through QuintX in the abundance bound to result ultimately from these new Quintric monetary options.

  1. Quintric, Quint, QuintS, iQuint, iQuintS, QuintX, QuintCache, QuintCard, QuintCoin, and QuinTrust are licensed trademarks of The Quintric Corporation.
  2. Each Quint token certifies five U.S. gold cents (1/1,000th of a troy ounce)  held on deposit by Quintric payable to the bearer on demand in one-ounce, fifty dollar face value, U.S. American Eagle or American Buffalo gold coin, at 1,000 tokens per coin.  Quint is one of the four “Monetary Tokens”, along with QuintS, iQuint and iQuintS.
  3. Each QuintS token certifies five U.S. silver cents (1/20th of an ounce) held on deposit by Quintric payable in one-ounce, one dollar face value, American Eagle/Walking Liberty silver coin, at a rate of 20 tokens per coin.
  4. Each iQuint token equates to 1/1,000th of a troy ounce of gold redeemable in 1,000 token increments in any one of the following five, one-ounce legal tender coins: (1) The Austrian Philharmonic; (2) The Australian Kangaroo; (3) The British Sovereign; (4) The Canadian Maple Leaf; or (5) The Chinese Panda.  Alternatively, smaller increments of iQuint tokens may be redeemed in the sub-ounce official coin of the realm issued by the Royal Court of Breifne— Ireland’s Ancient Middle Kingdom.  iQuint is one of the two “iQ Tokens”, along with iQuintS.
  5. Each iQuintS token equates to 1/20th of a troy ounce of silver redeemable in the silver versions of the legal tender offerings described in the preceding footnote.
  6. QuintX tokens constitute a byproduct of the creation of Quintric Monetary Tokens, intended to reward token creators (especially early ones) and encourage token circulation. Full details regarding the QuintX program will be unveiled to the public by July 4th, 2018.
  7. Latin for “Let it be Done”, i.e., a governmental edict.
  8. Cryptocurrencies have been known to fluctuate as much as 30% within minutes.
  9. This commitment rests firmly on statutory imperative that the U.S. Treasury produce gold and silver legal tender coin in quantities “sufficient to meet public demand” 31 U.S.C.A. § 5112(e) & (i)(1).
  10. The IRS has stated that it may not push the application of the rule to the “coffee” level, but wherever the lines will be drawn, it will undoubtedly still pose transaction-tracking problems.
  11. 31 USC § 5103.
  12. 31 USC § 5112(h).
  13. United States Constitution, Article 1 §10 cl. 4.
  14. Utah Code Annotated (UCA) § 59-1-1501, et seq.
  15. Oklahoma Statutes § 62-4500.
  16. Arizona Revised Statutes Annotated § 43-1121, et seq.
  17. Colorado Revised Statutes Annotated § 11-61-101; Vernon's Annotated Missouri Statutes § 408.010.
  18. 31 U.S.C. §§ 5103 & 5112.
  19. 31 U.S.C. § 5119(a).  Significantly, this statutory mandate invokes the market test of “purchasing power”, not merely parity of nominal face value. To this end, Congress has provided the secretary with a variety of statutory tools. These include the directive to buy and sell precious metals from the country’s reserves (Id.) as well as the requirement that all proceeds from the sale of gold be used “for the sole purpose of reducing the national debt.” 31 U.S.C. § 5116(2) (Reagan’s Golden Rule).
  20. Crummey v. Klien, 295 Fed.Appx. 625 (5th Cir. 2008), following Thompson v. Butler, 95 U.S. 694 (Supreme Ct. 1877).
  21. Egg Economics Update reports by Donald Bell, Poultry Specialist (emeritus), University of California, Riverside, CA 92521
  22. Keynes, John Maynard, The Economic Consequences of Peace, Chapter VI, pp. 235-236.
  23. Memoir of David Margrave.
  24. 31 U.S.C.A. § 5116(2).
  25. 31 U.S.C.A. § 5112(e) & (i)(1).
  26. Greenspan, Alan. Capitalism, the Unknown Ideal, 1967.
  27. Griffin, G. Edward. The Creature From Jekyll Island, American Media, 2010, p. 312.
  28. 31 U.S.C.A. § 5112(e) & (i)(1).
  29. 31 U.S.C. § 5119(a).  Significantly, this statutory mandate invokes the market test of “purchasing power”, not merely parity of nominal face value. To this end, Congress has provided the Secretary with a variety of statutory tools. These include the directive to buy and sell precious metals from the country’s reserves (Id.) as well as the requirement that all proceeds from the sale of gold be used “for the sole purpose of reducing the national debt.” 31 U.S.C. § 5116(2) (Reagan’s Golden Rule).
  30. Crummey v. Klein, 295 Fed.Appx. 625, 627 (5th Cir. 2008).
  31. Thompson v. Butler, 95 U.S. 694 (1877).
  32. See, Rev. Rul. 68-634, 1968-2 CB 46; Rev.Rul. 78-360, 1978-2 C.B. 228; Cordner, 45 AFTR2d 80-1677 (DC Calif., 1980); California Federal Life Insurance Co. v. Commissioner of Internal Revenue, 680 F.2d 85 (9th Cir. 1982), affg. 76 T.C. 107 (1981); Joslin v. United States, 666 F.2d 1306 (10th Cir. 1981), affg. 1981 WL 186; Cordner v. United States, 671 F.2d 367 (9th Cir. 1982); Lary v. Commissioner of Internal Revenue, 842 F.2d 296 (11th Cir. 1988).
  33. Smith v. Commissioner of Internal Revenue, T.C. Memo. 1998-148 and United States v. Kahre, 2007 WL 1521064.
  34. Thorne and Wilson v. Utah State Tax Commission, 681 P.2d 1237, 1239 (Utah 1984).
  35. Ibid. at 1239.
  36. 26 USCA §6702.
  37. 31 USC § 5116(2).
  38. 31 USC §§ 5112(e)(i)(1) & 5116 (a)(3).