The Gold-Backed Currency for Everyday Use, Already in Circulation (Szn 4, Ep. 32)

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Jeremy Cordon joins the podcast to discuss his Goldback creation. These gold-imbued currency notes are worth upwards of 1/1000 a troy ounce and are already circulating (and being used) for point-of-sale transactions.

• Goldbacks seek to solve one of the challenges of using gold as a currency of exchange: the lack of small denominations that can be used in point-of-sale transactions (2:57);
• A single goldback is worth 1/1000 of a troy ounce of gold, or about $4 at current rates. The notes are imbued with physical gold through a microtechnology process and serialized (5:06);
• Goldbacks trade at a premium to physical gold because of the engineering and artistic labor that goes into their production -- and demand, as supply has historically been limited (8:54)
• Goldbacks as a disaster hedge (12:48);
• Background on the guest and how he came to create goldbacks (16:57);
• The limitations of cryptocurrencies when it comes to creating a gold-backed currency, through the guest's own experience (21:35);
• The legality of creating gold-backed currency (24:12);
• Between $8 million and $12 million-worth of goldbacks are currently in circulation, but goldback.com is a wholesaler (26:48);
• The guest's investing strategy and the concept of gold-backed leases as a way to profit from the goldback trend (30:57).

• Website: Goldback.com;
• LinkedIn page;
• YouTube channel;
• Instagram: @Goldback.