Voima’s founder relates how the financial crisis, central banks’ easing and the history of money led to the founding of Voima.
Easing raises questions
At the end of 2008, when I was a 21-year-old aviation student, I landed an evening job at a brokerage house. Back then, the global economy was suffering from the financial crisis—until the stocks shot up in 2009. This sudden turnaround made me curious, and I asked more experienced people for its cause.
I was told that the central bank was providing “quantitative easing” for the economy, which in practice meant that they increased the supply of money in circulation. But did this mean that there was too little money in the world?
To this, I received no answer.
This started me off on an exploration, during which I got to know the history of money and its logic of production, among other things. It turned out that money is meant to be a medium of exchange and a store—and measure—of value. After I internalised this, it became apparent that central banks’ currencies, with their constant need for easing, were a bad store of value.
In contrast, history showed that the best store of value through the ages has been gold. Because gold has always been valued, it is also an excellent asset to measure value with. However, gold is barely used as a medium of exchange today: there were no actors in the gold market who could enable the smooth exchange of gold with reasonable expenses.
There was clearly a need for a bank that would make it possible to use gold as money.
Founding of Voima
While I was thinking about these things, I kept working at an asset management company. This ten-year stint reached a turning point in 2017, when we decided to sell our shares from a certain publicly listed company. From this sale, I received the seed capital with which I could finally take the first step towards the solution. In July 2017, I founded Voima Gold Ltd.
At Voima, we understand that your hard work and future matter. We are constantly working to enable you to pursue your dreams with money that lasts. Our aim is to create the safest bank by leading the change to gold-based financial services—that is, to make banking truly sustainable.
A lot has been achieved, yet a lot remains to be done to reach our goals. However, this much is certain: Voima is here to offer sustainable solutions that are based on honest money—money, whose value lasts for generations to come.
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