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Dec. 28, 2023 - Health Ranger - Mike Adams
21:51
Goldbacks make gold SPENDABLE by bringing DIVISIBILITY to the precious metal
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What problem do goldbacks solve?
Now, I guess we have to start with the question, what are goldbacks?
Goldbacks are easy to carry.
They come in different denominations.
They embed a layer of physical elemental gold, or 24 karat gold, in between a sandwich of polymers that are part of a really beautiful...
Note-looking object, although it's not currency, it's not legal tender, it's physical gold embedded in a beautiful design that contains either one one-thousandth of an ounce of gold, that's a troy ounce, or five one-thousandths, ten one-thousandths, twenty-five, or fifty one-thousandths.
Those are the different denominations in which goldbacks are available.
And so when you hand somebody a goldback that is marked as a 50, you're giving them literally fifty one-thousandths of a troy ounce of 24 karat gold.
And if you hand them a one, obviously it's one one-thousandth of a troy ounce.
But the point is the physical gold is in the goldback itself.
It's part of the object that you're handing people.
And the 50 is larger than the 1, by the way.
I mean, they increase in size, but all of them are very handy to use and to hand to people, to exchange, to gift to people, or to collect as a means of storing something that contains real, actual gold.
Now, you might be asking the question, how do you know they contain gold?
Well, I've actually done, I think, more independent third-party validation of that question than any other customer or user of Goldbacks.
And I've subjected goldbacks to three different tests, including an elemental analysis mass spec laboratory test in my food science lab, where I was able to determine that the gold that comes out of the goldbacks is greater than 99.99% pure elemental gold.
In other words, it meets the definition of 24 karat gold.
In addition, I bought a kiln, And I melted the gold out of the bills, burning off the polymers in the process, by the way.
You actually destroy the bills when you use a kiln and cook them at 1,100 degrees Celsius, which is what I did.
And you get the gold that melts out, and you can weigh the mass of the gold using a very precise laboratory analytical balance, a gravimetric scale.
And I was able to determine that the amount of gold found in these bills, the ones that I tested, were more than 100% of what was claimed.
Typically, they're in the range of 102% to 104%.
So there's actually more gold than what is claimed.
There's a little extra gold put in them in order to account for any variability during the manufacturing process, just to make sure that no goldback contains less than the claimed amount.
In any case, if you want to see the lab results on all of this for yourself, including all the photos and the ICPMS mass spec results, just go to verifiedgoldbacks.com.
That's my website that explains all of this.
It also contains a link where you can purchase goldbacks if you wish, or you can just look at the research and you can see what we found.
I also conducted acid tests on the goldbacks using the acid stone jewelers test that's very commonly used across gold and silver industry, at least in the context of jewelry.
And I found that, yes, once again, it's 24 karat gold.
So I subjected it to three different tests.
So set aside any question of whether there's actual gold in the gold box, there is.
It's even more than what you might think, and it's real, and it's nearly pure.
I mean, it's 24 karat, 99.99 plus percent gold.
So that question has been resolved.
The real question is, what is the utility of goldbacks?
And in a nutshell, the utility of goldbacks is that it makes gold spendable in a very easy manner because divisibility is one of the properties that makes money useful in day-to-day transactions or any kind of barter or gifting or what have you.
And looking at the U.S. dollar, for example, you'll note that you have different denominations of dollars.
You have a $100 bill, you have a $50 bill, and so on.
You have a $1 bill, and you even have coins that are smaller than that.
You have quarters, dimes, and nickels, and pennies, and so on.
And what this does is it allows people to make change for a purchase or to use a precise amount in a purchase or in a gift.
Or just transferring value from one person to another for whatever reason.
So divisibility is a crucial property of useful money.
This is one of the reasons why cryptocurrency has gained a lot of popularity in the minds of many people, because it has very, very high divisibility.
You can divide a Bitcoin, for example, into...
I think it's one million different slices of a Bitcoin, and those slices are called Satoshis.
I think it's one million.
It might be more than one million.
I think it is more than one million.
I think it might be a billion.
Whatever it is, it's very, very divisible.
A Satoshi is a very small thing, but it allows you to pay for things in Bitcoin With very small fractions or very precise numbers, like you could send somebody.02175642 bitcoins.
And that would work in the bitcoin universe.
Now, of course, bitcoins are electronic, so they're an abstract.
They're digital.
They're not something that's real and physical in the real world that you can touch, right?
And that's one of the reasons why a lot of people really love precious metals.
They love gold and silver because you can touch it, you can hold on to it, you can stack it, you could hide it, you could bury it.
There are all kinds of things that you can do and all kinds of certainties you have when you have a physical commodity that you can hold in your hands and you can look at it.
And in the case of gold and silver, what's truly amazing, this has always impressed me about gold, is that gold is on the table of elements.
It is an atomic element.
So is silver.
So is platinum.
So is nickel, even.
So is copper.
But as an atomic element, It means that this is one of the foundational building blocks of the physical universe as we understand it today.
And it also means that you can't destroy it by normal means unless you have a fusion reactor or a fission reactor or something like that.
You can't destroy gold without fusion or fission.
Whereas You know, if you build a house out of wood, let's say, and the house burns up, the wood gets burned and it's no longer wood.
It gets destroyed.
The physical substance of wood gets destroyed and turns into ash, which is mostly minerals and some carbon.
But if you burn gold, you just get hotter gold.
You just have melted gold.
It's still gold.
It's still a physical element.
And because of the unique properties of this physical element, it will always have recognized intrinsic value among every human being, across every culture, every language, throughout human history, for all of the past of known human civilization and all of the future, human beings will always value gold for a number of reasons, one of which is the fact that it's just beautiful.
It's beautiful to wear.
It's beautiful to look at.
It's beautiful in art.
It has been used throughout history in all kinds of religious artifacts and religious architecture.
Buildings, monuments, mosques.
You know, the Egyptian pyramids, many people believe, were at one time coated with a layer of gold.
Which has long since been looted, of course, because people wanted the gold for themselves.
But gold has this intrinsic value that is just unmatched by any other substance in the universe.
Nothing else is the same as gold.
Nothing else is as instantly gorgeous and valuable.
And people want to be around gold.
They want to wear it.
And they do.
And especially a lot of women across the cultures of the world, they show the gold that they own as a measure of social standing or of personal wealth, which is a reflection of what is projected as their importance in society.
So gold is a symbol of standing in addition to being beautiful.
It also has, of course, applications in industry.
It is a great conductor of electricity.
It's used in aerospace and all kinds of things, dentistry, on and on.
I'm not going to go into all of that.
But gold has unique properties that are not exactly the same for any other element on the table of elements.
And that's what makes gold incredibly special.
So this is why throughout history, people have minted coins out of gold.
Because trading a gold coin with someone or giving them a gold coin is a real representation of value.
And there are all kinds of economic theories and philosophies that can talk about the scarcity of gold, for example, or the amount of energy that's necessary to invest in the recovery of gold, i.e., the mining of gold.
And there are all kinds of economic calculations that show that this is why gold has this much value, because it's difficult to acquire and it has limited scarcity and so on.
At the end of the day, gold is simply beautiful.
It's lasting.
It's an element that has been around since the beginning of the known universe.
And it's here to stay.
And economically or monetarily, it has outlasted the rise and fall of hundreds of civilizations throughout human history.
Gold holds value even when currencies collapse.
And this is why so many people stockpile gold today.
But there's an issue with gold.
There's an issue of practicality.
If you have one ounce gold coins, which is the most common format that people store with gold, and I have one ounce gold coins as well, I love having them for all the same reasons I just mentioned.
But if I wanted to give, let's say, one one-hundredth of an ounce of gold to somebody, i.e.
ten one-thousandths of an ounce, I don't have any convenient way to snip off one one-hundredth of an ounce of gold.
I don't know how I would do it.
I don't think it would be very accurate if I tried to do it.
And I don't even think the person that I'm giving it to would recognize it anymore.
And then the gold coin that I took it off of would now be partially defaced because it's like, okay, this is only 99% of a gold coin.
Where's the other 1%?
Oh, yeah, well, I cut that off because I was trading with somebody.
And, you know, it doesn't really work.
It's either a whole coin or it's nothing when it comes to coins.
That's why coins have ridges around the edge to make sure that people don't scrape off the outer perimeter, scraping off extra gold and then passing it off as a whole coin.
That's why they're serrated, by the way.
Virtually all coins have the same kind of pattern for that very reason.
What goldbacks do then, now to get to the main point here, goldbacks create convenient divisibility in real physical gold.
When you hold a goldback in your hand that has the number five on it, you can rest assured with high confidence that that contains exactly or even slightly more than five one-thousandths of a troy ounce of 24 karat gold.
And so then you can use that.
You can gift it to someone, trade it.
You could use it in commerce, knowing what it is and not having to cut anything apart.
And if you want to give somebody one one-thousandth of an ounce of gold, you don't take a five gold back and cut it into five pieces.
No, you have the one gold backs for that purpose.
And then, of course, for larger denominations, you have the tens, the 25s, and the 50s.
So you have this range of divisibility.
And the practical effect of this is that it makes gold spendable.
It makes it easy to use gold in everyday commerce, which many of us who are storing some amount of gold and silver as a means of storing wealth, we want to be able to use it one day.
We'd like to reintroduce it back into commerce.
But again, with gold coins, It's not so easy.
Now, I know there are smaller denominations of gold coins.
You can get half-ounce coins, quarter-ounce coins, even tenth-ounce coins.
But a tenth-ounce coin is still, by today's market prices, just in the gold alone, worth over $200.
And by the time you pay the premium on the tenth-ounce gold coin, I don't know if it's $250, $275, $300.
I'm not sure what the price is, but it's something considerably larger than just spot price of gold.
And so if you're trying to store large amounts of gold, you wouldn't buy just tons of tenth-ounce gold coins because it still doesn't achieve the divisibility issue, which is how do you divide it into something smaller than one-tenth of an ounce when you actually want to use the gold one day?
See, most people are stacking gold with the idea that they would one day turn it back in for fiat currency.
I'm just going to sit on this gold right here, and then I'm going to trade it for some future currency that comes out later on.
And then I'll use that currency to make my purchases, because that currency will have divisibility.
This is actually the kind of assumption of a lot of people who are stacking gold right now.
And what if you bypass that?
I mean, there's nothing wrong with that.
I have gold for that very reason as well.
But I would like to have some additional gold that I could use immediately.
Some gold that is highly divisible.
And that's where goldbacks come into the picture.
You can purchase goldbacks in all these denominations I mentioned.
You can have an assortment of them, maybe a lot of ones, fewer fives, fewer tens, and so on.
And you would have this array of goldbacks that you could use to equal almost any kind of purchase amount because the one goldback is a pretty small denomination.
In the market right now, the one goldback is recognized as being worth about four U.S. dollars at the moment.
Now, it contains about two dollars worth of physical gold.
That's the spot price of the gold in the bill.
So where does the extra $2 come from?
That $2 is recognized in the utility of the goldback format, which has this divisibility that gold coins themselves don't have.
And in addition, goldbacks are very beautiful.
There's also a manufacturing cost in order to embed the gold with this really high tech that puts a layer of it, like a really thin gold foil, inside, sandwiched in between the polymer layers.
So it's not going to cost just the same as a lump of gold, but then again, neither does a one-tenth ounce gold coin.
There's a substantial premium for a one-tenth ounce gold coin.
There's a substantial premium on U.S. minted gold coins versus other mints around the world that are lower in price.
So just as a U.S. minted American gold eagle would command a higher premium than just spot price of gold, goldbacks also command a higher premium than just the spot price of gold because there's higher intrinsic value, more recognition of the goldbacks also command a higher premium than just the spot price of gold because there's higher intrinsic value, more recognition of the goldbacks in terms of the artistry, the format
People who are informed about what these are for and how they work.
So the bottom line is goldbacks make gold spendable.
So if you want spendable gold, goldbacks are a really great format to consider.
However, if you only want the maximum number of ounces of gold that you plan to trade later on, trade for whatever next currency comes out, then the price per ounce is lower just to buy gold coins or actually gold bars.
So you would want to buy 10 ounce or 100 ounce gold bars, and those can get, of course, pretty expensive.
But if you're looking for the cheapest price of gold, there it is.
It's a 100-ounce gold bar.
But you can't take a 100-ounce gold bar to the farmer's market and buy a loaf of bread with it or a dozen eggs or ground beef or whatever.
That would be crazy.
And you'd probably be robbed.
Well, you got a 100-ounce gold bar carrying that around in your pocket?
What for?
So divisibility matters.
And it also means when you have goldbacks, One day, if the currency breaks down in the country and you need to go to the farmer's market and you need to buy things, you only need to take with you the amount of goldbacks that you plan to spend.
You don't have to take a massive gold bar.
And now some people say, well, what about silver?
Silver is more lower value.
And junk silver is very useful.
And that's absolutely true.
Junk silver is very good at that.
But for storing large amounts of assets in a spendable, divisible form, silver can get pretty heavy.
And if you've ever purchased, let's say, a case of 500 silver coins, which might be, I don't know, $15,000 or whatever, depending on the silver price, you notice that that's pretty heavy.
It's very heavy.
It's like almost 40 pounds or something like that.
I forgot the...
We could do the math, but anyway, it's close to that.
You're not going to be able to carry a bunch of those around.
Whereas to store the same amount of value in gold, in a gold coin, is obviously much easier.
But even in gold backs, it's also much easier to store and much easier to carry, and you have the divisibility.
So for me personally, I plan to have junk silver, also one ounce silver rounds, and yes, also one ounce gold coins as well.
And what I'm adding now Is goldbacks.
Because now I have divisible gold or spendable gold in a format that I never had before.
And even though, yes, I'm paying more than the spot price of gold, I recognize that goldbacks have greater utility than just raw gold nuggets also.
And in many ways, greater utility than a gold coin.
So that's why I'm adding goldbacks to my portfolio, which also includes some crypto.
You know, privacy coins, by the way.
So we have electronic forms of trade, and then we have...
Off-grid, non-electronic forms.
And now with goldbacks, we have high divisibility of gold.
And that's something that really hasn't been possible before goldbacks came along.
At least, not in any format that I saw.
So it's an innovation that's worth paying attention to.
Check it out at verifiedgoldbacks.com.
You can see all my testing results, and you can click the button there if you want to make a purchase.
We do earn an affiliate fee for that purchase, which helps fund our platforms and our ongoing free speech efforts to help educate, uplift, and protect human beings all over the world.
world.
So thank you for your support.
Should you choose to acquire goldbacks through this link?
Again, it's verifiedgoldbacks.com.
Thank you for listening.
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