Transcript of the above video:

As the title of this video suggests, we are discussing "weights and measurements". What are we talking about here? Well pursuant to the US Constitution, there is a provision in there regarding "weights and measurements". There are also provisions in there regarding metallic money and I am not going to go too deep into that from a Constitutional perspective, but the point of this video is yeah the Constitution specifically in the United States, empowers the US Congress to set weights and measurements and this is important, I will get to this in a moment or I will get to this now I guess. 

Thai Gold for example, there is Baht weight gold as we have explained in other videos; purity 96.5 Baht weight gold. There is a specific weight and measurement in Thailand that goes back into the mists of time for this specific type of Baht weight gold. From the time when it was used essentially as currency they needed to have a uniform weight and measure. I bring this up because Thai Gold has a different weight and measurement from the international if you will gold standard if you will. Different countries have different things, for example the Gold Exchange in London has a different, I believe a different weight and measure from what is called Four Nines Fine I believe in China, 99.99; I think in the London exchange it is 99.9 and look, I am not claiming to be an expert in this okay so before you burn me in the comments because I don't know if it's 99.9, or Four Nines or whatever, and there is good delivery bars, I am well aware of all these measurements conceptually. I don't know the exact ones, I am not going to get into that because quite frankly I am more interested in Thai gold for myself and I know what the weight and measure is, it is the Baht when it comes to Thai gold. 

The point of the video though is I think very few foreigners fully comprehend that, I remember the first time I saw that Thai Baht was 96.5 and I did not recognize it, it had its own weight and measurement. There was a standard weight and measurement that was utilized by the Thai Gold Traders Association for buying and selling gold here which is highly fungible, highly liquid. You can exchange gold for cash pretty much instantaneously here in Thailand depending on where you are at if you can find a Thai gold trader to trade with. It is very, very liquid but it is a different weight and measurement and for some, that may not be something that is particular desirable because they want something that is on the International Standard. 

I rather like the fact Thailand has its own standard most notably because the Thai Gold market does not wildly move around with sort of the same volatility at times as does some of the international markets and it is one of the reasons I like it. Again I also really like the fungibility; I like that Thailand has its own system, it is kind of a closed system, it is like sort of a closed circuit. It works quite well and in fact I have a theory that it kind of insulates Thailand's economy from some of the worst vicissitudes of the more financialized economies out there. I will leave it at that. 

Long story short, yeah it's really interesting. Even the US Constitution specifically speaks to the issue of weight measurements because it's that important. Weight and measurements can have a tremendous impact upon one's assets for example if one has for example gold that is in a certain weight and measurement compared to gold that is in another type of weight and measurement. It can have profound ramifications in many, many ways. So the thing to take away from this video is Thai Gold is not on the same standard as gold as in many other markets but that being said just because it's not, take another look because there are profound upsides to that as well.