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Jan. 4, 2024 - Health Ranger - Mike Adams
50:12
Goldback founder Jeremy Cordon talks with Mike Adams about POST-COLLAPSE money...
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Welcome to today's interview on Brighteon.com.
I'm Mike Adams, and as you know, I am a strong advocate of owning precious metals as a store of value as the dollar continues to collapse.
And we know that in 2024, BRICS plus nations are going to embrace non-dollar transactions all over the world.
In fact, 2024 will likely be the year We see the real beginning of the end of the dollar as the global reserve currency.
It doesn't mean there won't be dollars in the United States.
It's just that they would be worth a whole lot less.
So people are turning to things like gold and silver and also these, which are called the goldbacks.
And these goldbacks, I got turned on to these by a friend of mine, Robert Scott Bell, and then I did lab testing on these and found out they actually do contain gold.
This one contains 51 thousandths of an ounce of physical gold, 24 carat plus actual gold embedded in the note itself.
And there's all kinds of different denominations here.
And I'm joined today by the founder of the goldback company, Jeremy Gordon, from Goldbacks.
And welcome to the show, Jeremy.
It's great to have you on today.
Thanks for coming back.
I appreciate being here.
here.
Thanks for having me.
Well, thank you.
This is our second interview since, well, our third overall, but our second since we launched our partnership with Goldbacks.
And I only did that, of course, after we did all the due diligence and all the testing.
And I got to say, Jeremy, I'm so blown away.
I'm so impressed with what you have done.
This is completely innovative.
I mean, no one in the world has done this like you've done it to have physical gold embedded in these bills.
And we've got all the lab results posted at verifiedgoldbacks.com for people who want to check that out for themselves.
And that's also our affiliate site for Goldbacks.
But But Jeremy, walk us through this.
Again, just briefly, how did you come up with these?
How did you even manage to pull together the manufacturing technology to put precise divisions of gold into these Goldbacks?
The manufacturing already existed, but they didn't manufacture anything like this.
In fact, I got one in my wallet.
This is from a long, long time ago.
This is more the kind of things that our manufacturing company made.
It was really clunky.
We helped them raise a whole bunch of capital and get their processes dialed in.
So we could do the gold back.
They'd never gone down as small as a thousandth of an ounce before, and they'd never gone as big as a twentieth of an ounce.
So we really had to make the range work so it could be a workable currency.
Well, this 50 that I'm holding, I mean, it is heavy.
It is thick.
And, you know, I've done the test.
I bought the kiln and melted it down.
And when you first melt this at about 800 degrees Celsius, you get gold foil that comes out of this.
In fact, guys, if you can show my screen, let me show you a picture of that gold foil.
There it is in my hand.
There's a 50 being melted, and there's the gold foil that comes out of it.
And then if you melt that foil down, you get this...
This gold sphere.
But Jeremy, I mean, how do you even manage to deposit this with precision with a printing machine?
I mean, I don't even understand it.
No, for sure.
So every goldback is made in a deep state space vacuum deposition chamber.
It's very high-tech.
This is the same level of technology that puts gold in your cell phone, in microchips, in Taiwan.
It's used for diabetic test strips.
In essence, you have a chamber.
There's nothing in it.
It's just space.
It's just a vacuum.
You have a 50-pound slate of gold getting hit with a plasma ray And it's depositing gold atom by atom on a polymer that's rolling through.
And that can get measured pretty precisely, not as quite as precisely as we'd like, so we end up putting a little bit of extra gold in all the goldbacks to make sure that we're never light.
Yes.
That's the process.
Well, we saw that in our laboratory testing.
And again, to my producers, if you show my screen, here it is.
We tested the recoveries.
I'm not going to focus on all the lab tests here today.
We've got a lot more to talk about.
But we measured anywhere from about 102% on the low side to 107% recovery of the claimed amount.
But in no case did we see under 100%.
So what you're saying rings true, Jeremy.
Yeah.
Great.
No, and that was really satisfying to see.
Yeah, absolutely.
Especially since we probably lost a little bit of gold in that process, you know, of melting down and who knows what, but we had really good recoveries.
In fact, again, one of them was 107%, although I'm not going to say that's typical.
It's probably typically closer to maybe 102 or 103%, right?
Yeah, I'd say 107% is the outlier.
If we're giving 107% of the gold that we say we are, we're We need to dial it back a little.
Yeah, your gold inventory guy might have questions like, where did it go?
Oh, we gave away too much on the bills.
Well, let's talk about then the divisibility because I'm getting a lot of positive feedback from people on these.
I have given away literally thousands of dollars of your goldbacks, Jeremy, mostly in ones.
And so here's a stack of ones right here, and people love these because they're, number one, they're really beautiful to look at.
Just the design, the color, and the designs on both sides, on the back and the front, they're really amazing.
But they're also precisely divisible.
So whereas I can't take a...
Well, here's a silver coin.
I can't take a silver coin here and cut off one one-thousandth of it and use it to buy a sandwich or something.
But I can take one gold back, which is one one-thousandth of an ounce of gold, and I can give this to someone.
I can use it as a gift or barter or trade, and I can know that that divisibility is there, the utility is there, and it's accurate.
So...
What kinds of use cases are you seeing among your customers taking advantage of that divisibility and practical use of it?
You know, that's something that we thought a lot about before we even launched Goldbacks.
And one of the very first things we did is we made a wallet that's designed to be used by men that works for Goldbacks, right?
It's designed to fit kind of right into your front pocket.
Because we find that whatever the use case for goldbacks are, it's really important to actually have them with you because otherwise you're going to miss the opportunity to spend them most of the time.
And opportunities to use goldbacks as money happen for a lot of folks daily.
It happens way more than you'd ever think.
In fact, I put together a little list here and you can get those wallets right where you get goldbacks.
I'll tell you, there are people today that are living off goldbacks, that are doing, you know, 60-80% of all their transactions in 24-karat gold.
And I think the reason why is because people are realizing that, you know, there's options.
You know, you don't have to just use kind of these central bank, you know, Federal Reserve note products in commerce.
And that's a really, really new dynamic.
We're already starting to see that.
But just right off the list, gifts.
That's a very low-hanging fruit for goldbacks.
If you give out birthday cards, Christmas cards, Valentine's, any time that you can put something in a card.
If you put cash in a card that's quickly forgotten, goldbacks tend to elicit Quite the response.
Absolutely.
Especially in proportion to the value you have there.
And it's an opportunity for those of you who have children or grandchildren that you want to teach them something about gold.
I mean, this is the way to do it.
You give them one gold back.
And they're like, what is that?
And so you get to teach them, this is physical gold.
This has something in it that has held value through the rise and fall of civilizations for thousands of years versus this Fake fiat, counterfeit, green, greenback, whatever.
Like, this is going to be gone in 10 years, probably.
And it's already lost 99% of its value, you know, since the Federal Reserve was founded.
So, you know, I mean, but people take these goldbacks, and I've seen people frame them.
I've seen people, you know, put them in safe deposit boxes, but mostly they want to display them.
They want to put them on, like, the wall or on a...
A piece of furniture and show people these.
They love to show these.
You know, we found out that there's a huge proportion of people that have seen goldbacks, much higher than you would think.
And part of the reason why is because people are eager to show each other.
So, as an educational tool, the gold back is extremely powerful because for, you know, $4, you can turn anybody you know into someone that not only owns precious metals, but, you know, got to hear about it and understand why.
You know, one conversation, you know, I'll have with people, you know, giving them a gold back is I'll say, hey, you know, if you stick this gold back in your wallet or your purse and you were to bury that purse or wallet for 100 years...
And they pulled it out of the ground, what would be the only thing in your wallet that'd have value?
Would it be your credit cards?
Would it be your cash?
Would it be, you know...
Your mobile phone?
Your mobile phone?
No, I mean, all of that's gonna, you know, rot and corrode away, you know, or the value will be gone, or the bank will be long closed, or the dollar will be long dead.
But if they pulled out a gold back in 100 years, that's the only thing in your entire wallet that has enduring value.
Exactly.
And that's what's so powerful about it.
And yeah, that's a good segue.
The next way to use goldbacks, if you don't want to just do gifts, and gifts is great.
We gave them out to our neighbors in our Christmas cards this year, is tips.
We have a very strong tipping culture in the United States, and it feels like everybody is asking for a tip now.
I was at a rock store where they sell geodes and onyx.
They were asking for a tip at this retail store on my purchase.
I've turned that into an opportunity to give people gold backs.
People are always excited to take them.
It's always the coolest tip they've ever seen.
I can explain it.
I can tell them what it is.
I can tell them why.
And, you know, often, oftentimes, you know, you'll give a gold back to your waitress and you'll see her starting to, you know, show the gold back to all the other waitresses, to the people in the back, you know, and it might be the most memorable tip they get all year.
Yeah.
You know, it's really a cool way to educate people.
Well, I did the same thing at a restaurant.
I was giving out goldbacks.
This was during Christmas.
I was giving out goldbacks to all the waiters and waitresses there and the chef.
Just kind of a year-end thank you gift.
So I just hand out goldbacks.
And I practically shut down their restaurant because they stopped waiting tables to talk about goldbacks.
But the chef was so thrilled that then...
He came out and gave me a giant container of his soup, his homemade soup that's super delicious, and it was just a gift exchange.
I gave them gold, and he gave me soup, and I was like, this is awesome, totally spontaneous.
I was just handing these out, but I guarantee you that's the most exciting tip they've ever received through the entire year.
I gave out one at an ice cream shop one time.
Similar response.
They had a little tip jar in the front.
I'm explaining to the guy what this is and that it's real gold.
He couldn't believe it.
He could not believe I was giving him the real thing.
I said, hey, calm down.
This is like $4.
He says, oh no, this is really special.
This is maybe the nicest thing anyone's ever given me.
He took out his own wallet and paid for my ice cream.
What?
Wow.
He felt like he had to even the score.
That was so nice.
I didn't ask him to do that or expect that, but he absolutely insisted.
The emotional reaction that you get on giving a gold back is really, really high.
The value perception of a single gold back is super high.
I think part of the reason, part of the magic behind the gold back is You look at it, and everything that you can see that looks like gold is actually 24-karat gold.
That's amazing.
There's nine times the amount of surface area on a goldback as there is a one-ounce gold coin.
Part of the reason why I think we've always used gold is because there's an allure to gold.
There's something really beautiful about gold that attracts people in.
And that's part of why gold has been money.
Sure, it's divisible.
Sure, it's rare.
Sure, it has all the qualities.
But people really like it.
They like to look at it.
It attracts them.
And per gold content, for the amount of gold content that there is in a single gold bank, there's a thousandth of the amount of gold as there is in a one ounce gold coin.
There's nine times the surface area.
So what you have is you have 9,000 times the surface visibility That's true.
Yeah, and that's one of the amazing things about goldbacks in particular is that you don't have to be an expert in gold to instantly see these are gorgeous and to see the emotional impact that it has on people.
And because people automatically value them, You don't have to explain gold scarcity and the gold mining economy and how the dollar used to be tied to gold and then it was dropped by Richard Nixon in 1971 and then money printing it.
You don't even have to go into all that.
It's just like, wow, gold, that's beautiful.
I want something.
That's the equation for a lot of people, which brings me to my next point about merchants accepting goldbacks.
Let me mention real quick, though, the website is verifiedgoldbacks.com.
That's our affiliate site.
And if you go there, you can see all of my laboratory testing and some other videos and so on.
You can see all the steps that we went through to verify the purity and the quantity of gold that's in the gold bags.
And then if you click on...
Like this button here, check goldback pricing now.
And if you purchase goldbacks, we do earn a small percentage at no additional cost to you.
But this is how you can help support our platform and get goldbacks at no additional cost.
In fact, you really get them at a discount versus what the accepted value is among merchants.
But that brings me to this point.
So when I ordered goldbacks, you included this sticker.
It says, we accept goldbacks.
And I assume this is for merchants who want to put this in the window or whatever.
So do you have a lot of merchants or brick-and-mortar stores that are displaying this, that are accepting goldbacks?
Yes, and that's one of the first questions I was asked when we started the project back in 2019.
This is five years ago.
You know, you come out with something brand new and people say, well, that's cool.
And I, you know, that's neat.
But who would take it?
You know, what do I do with it?
Who would ever accept that?
Right.
And with any currency, with any money system, you have to be able to prove that.
So we went out in Utah and it took me maybe three or four days.
We signed up.
I was hoping that we'd get maybe one in ten business owners that really appreciated and understood precious metals and sound money that were really kind of awake to a lot of, you know, the big macroeconomic problems that we could get these people to take goldbacks at their businesses.
And what we found, it was actually closer to half of small business owners were willing to take payment in gold, and many of them had never owned gold before.
Oh, wow.
You know, so they saw the goldback.
They said, yeah, we would take that.
You know, we want to be part of the program.
And, you know, it really took off.
Now, I want to say that we have eight businesses just in the state of Utah that take goldbacks for every one that takes cryptocurrency as payment.
Really?
Yeah, I think we're around between 700 and 800 businesses.
I want to say that's what it is.
And a lot of them are, you know, like we have car dealerships.
You know, I paid for part of my truck with goldbacks.
We've got contractors.
You can build a house with goldbacks.
We've heard deals of people buying equity and land and groceries and gas stations where they'll take payment in gold.
And since you mentioned crypto, I'm glad you brought that up because I'm an advocate of certain types of privacy crypto, but there's a pretty big learning curve to use crypto.
And the nice thing about goldbacks is You don't have to install or download anything.
You don't need passwords.
You don't need a seed phrase.
You don't need to remember anything.
You don't even need a computer.
I mean, boom, the value's right there.
You just give it to people.
It's low tech, but it's like high resiliency, you know, because the value's in the goldback itself.
Do you ever get comments from people about goldbacks versus crypto?
You know, I have a really funny story to tell you.
We...
We were talking to this group, and they're creating a show, and it's kind of a preparedness show, right?
It takes place in the apocalypse, and I imagine it's grid-down kind of environment, what that looks like.
So really interesting premise, and they approached us wanting to have Goldbacks as part of their show, right?
Of course, they want us to pay for the promos or whatever, and that's fine.
But one of the other groups that was really interested in paying them It was like a crypto exchange group.
And you think, okay, well, and grid down, the power's out, and the smartphones don't work.
What are you going to do with your cryptocurrency?
What does that even look like?
You have to wait for the power to come back on.
Who's running the server?
What's the market?
That one just kind of baffled me.
Really?
So you're going to have a post-apocalyptic show, and you're going to have a guy pull out his smartphone and And ask the other guy to pull out their smartphone.
They're gonna log into a server and they're gonna do a crypto exchange.
And there's going to be a big market telling them how much their cryptocurrency is worth.
Yeah, like somehow after the data centers are all nuked, they think crypto is going to work.
No, crypto is not for that scenario.
No, it's not.
It's not to say that there's not a scenario for crypto.
I'm not anti-crypto.
I think it's great.
A lot of the things that cryptocurrency has done in the market and kind of on the public stage has made it possible for goldbacks to come out.
You know, I don't think we could have done this, you know, even 10 years ago, because it would have just been, I think, too threatening to the system.
Whereas, you know, cryptos have already, you know, kind of crossed that bridge, you know, where people are using things outside of dollars, and that's an accepted thing now.
Yeah, where crypto really shines is when the power grid is working and you want to buy something remotely or you want to transfer money to another country or something like that.
That makes perfect sense.
Right.
But goldbacks make so much sense for local, direct transfers of value or exchanges, barter, gift, as you said.
But also...
The idea of self-custody.
When you have goldbacks in your hand, you have that self-custody.
That's even an idea that's very strong in crypto.
They say, not your keys, not your crypto.
It means don't leave your crypto on the exchange.
Have self-custody.
But with goldbacks, you could either have it in your hands, or some people also choose to vault goldbacks as well, don't they?
Because maybe they want to take delivery of them later on, but they want to vault them right now because maybe they're not living where they're going to be living long-term, or maybe they don't feel like they can protect them as well as a vault.
Sure.
Isn't that true?
Yeah.
Well, a lot of people, they have goldbacks for the same reason they have any form of gold.
It's Even if they don't see themselves using it a whole heck of a lot, if they're not going to live off goldbacks, goldbacks have really appreciated it in value in terms of dollars.
If you were to go to goldback.com and look, the goldbacks started, I think we started selling like $2.
And right now the average price is well over $4.
I think we hit $4.40.
I'd have to see what it is today because gold's going up.
But the goldback does rise with the price of gold, and it rises with the price of gold at least as much as it does with gold coins and gold bars.
So there's not a downside to owning goldbacks versus coins and bars.
Your partner, if you go through verified goldbacks, they actually vault goldbacks for free.
So there's people that are paying thousands of dollars a year to vault their gold for custody, and Alpine Gold, they do it for free through verified goldbacks.
And the reason why is we've got five different states for goldbacks.
We've got five different denominations.
And for us, having the interchangeability of being able to pull out whatever denomination we have in demand, it's worth it for paying everybody's vaulting fees on goldbacks.
So we see people vaulting We have six- and seven-figure accounts vaulting goldbacks.
Wow.
Wow.
And I'm glad you mentioned that goldbacks rise with the price of gold.
I mean, that should be intuitive to people because they contain physical gold.
And so as gold rises in the price of dollars, then goldbacks also rise in value.
Yeah.
Actually, I want to ask you this question about where you think gold prices are going, because we just saw in the last month, as of this recording, we saw gold hit a record high, all-time high of, I think, 2130 or something in that range.
And now it's adjusted back a little bit since then, but for the year of 2023, gold was up 13%.
Which beats most stock market investments, or at least Dow and Fortune 500 type of investments.
And yet gold can continue to rise in terms of values of dollars.
I'm not encouraging people to speculate on it, because I'm just saying that dollars are becoming worth less, which means that gold is holding value.
But as gold holds value, gold backs themselves hold value because they contain gold.
Does that all make sense?
Yeah, no, I mean, that makes sense.
And again, I mean, the price of goldback has about doubled just over the last five years in terms of dollars.
And it's done at least as well, if not slightly better, than coins and bars in terms of appreciation.
So there's not a downside to owning this form of gold in that sense in terms of value appreciation.
Something else that I use goldbacks for, you know, I have little kids.
I've got an eight-year-old son, a six-year-old, a four-year-old.
And when I was a kid, when I was six years old, the bank came to my school and they said, hey, you know, everybody needs to save money.
Someday you're going to grow up and you're going to want money, you know, if you're going to get married, if you're going to go to school, if you're going to buy a house someday.
So really, I'm six years old.
What you should be doing is you should be saving dollars and getting interest.
And I think back then the bank paid, I don't know if it was six or eight percent a year.
And that made a lot of sense.
Hey, you know, compound interest is the greatest force on earth.
And, you know, now I look at my kids and I think, okay, maybe the dollar loses 6% to 8% a year if I'm being very optimistic.
So what does that look like in 10 years?
You know, what's my 8-year-old supposed to do?
Do I just teach him not to save?
So he's actually been taking his savings.
He's been putting it into goldbacks.
And he has a stockpile of goldbacks, and since he started doing that, he started doing that when he was five years old, with, you know, definitely some coaching from me.
But the value has gone up for him, you know, whereas the dollar has gone down.
So, you know, having goldbacks as kind of like an allowance or like a savings for your kids, they do retain value.
And it's not like I have to give them a full one-ounce gold coin, you know, to...
To have them participate in what gold is doing.
Right.
No, it's a very powerful lesson, too, because...
If you had a dollar savings account in the bank, even if you put it in a CD or something, maybe in a CD in a bank, if you get a great rate, you could get, I don't know, 5% right now, perhaps.
And a couple years ago, it was like 2%.
But last year, gold went up 13%.
And you didn't have to sign any papers, and you didn't have to give custody of your money to a bank.
See, that's the other thing.
We need to talk about this.
Goldbacks don't depend on banks staying in business.
You know, a lot of people lost their deposits, lost their accounts.
Silicon Valley Bank collapsed.
And what a lot of people don't know is that even though the FDIC bailed out American account holders there, the FDIC made a special decision to bail out over $250K. And that was a decision that...
Yellen promised they would not do for other banks, but she won't tell you which banks.
So it's kind of like Russian roulette with your banks.
But the other thing is that foreign account holders lost everything.
Foreign account holders in that bank were not insured by the FDIC, and they got left with zero.
So, you know, you hold goldbacks.
It doesn't depend on a bank remaining viable.
And banks can have bail-ins, which means they take your money and they call it theirs.
And that's happened before.
It'll probably happen again.
With goldbacks, since the gold is in your hands, you know, like there's nothing you can do, Jeremy, as a company.
You can't just, you know, claim everybody's goldbacks as your own.
That would be like a goldback bail-in.
That's physically impossible.
Can't happen.
Yeah, someone asked me, they said, well, what if something happens to Goldback?
You know, what if something happens to you?
What if, you know, they drag you out and, you know, you get disappeared and, you know, Goldback gets shuttered down?
Well, you know, the value of Goldback will probably go up.
Yeah, probably.
Because we can't make them anymore.
Exactly.
Exactly.
So, again, self-custody is the key issue here on all of this.
Okay.
I do want to ask you one question now.
In...
Tell us about the premium of goldbacks and why, you know, a thousandth of an ounce of a goldback here is worth over $4 right now, even though a thousandth of an ounce of gold, if it's just raw gold, like shavings, I guess, or a gold nugget, a thousandth of an ounce would be worth, you know, roughly $2.
So tell us about that price difference in the utility premium.
Sure.
If you buy a tree, if you buy a log, you cut down a pine tree, that log might be worth $30 at a lumber mill.
A $30 log.
How many pencils can you make out of a log?
Oh, many thousands of pencils, I would imagine.
Many thousands of pencils.
But, you know, maybe the price of the log is the same as the price of 100 pencils.
Why would anyone ever buy a pencil?
Right.
That's a horrible deal on wood.
It's a very expensive way to buy wood.
Exactly.
But it's got utility value.
Right.
You can use it.
I would rather own 100 pencils than a log, right?
Because I'm more likely to write things and to do things with that.
So it really comes down to what your goal is.
If you want to have a pile of gold scrap and your goal is to craft it into jewelry and The gold back probably isn't your best choice.
If you ever envision it using your gold as money or spending it, any scenario where you're not using dollars and you need your gold, there's not a more useful form of gold to own.
It took me a while to really get there.
The gold back has never been counterfeited.
There's never been a fake gold back.
And with all the new anti-counterfeiting features we're rolling out, We don't even think there will ever be a fake gold back.
And that's not true for any other form of gold.
If you wanted to buy a thousandth of an ounce of gold, even up until recently, this is what a thousandth of an ounce of gold looks like in the form of coin.
You see that?
It's like a fraction of my finger.
A little speck.
It's like, this isn't what anybody is actually going to use as money.
And there's no way to authenticate that.
But if you wanted to buy that little speck of gold, it's $20.
So the fact that we can take an ounce of gold and split it into a thousand serialized, never-been-counterfeited pieces and do that for as cheap as we can, nobody has ever done that.
I think if goldbacks had a 200% or 300% premium, they'd still be a bargain.
For what they are, the goldback is extremely, extremely cheap.
It's a very affordable way to own gold.
Yeah, and for all the goldbacks that I have used as gifts or tips, I've never had anybody ask me, like, whoa, whoa, that's too expensive or anything, you know?
They just ask me, how much is it worth?
Right.
What's the value?
Yeah, what's the value of it?
And I explain where that value comes from and how it's tied, ultimately anchored to gold itself, plus the utility value of this.
And again, I own gold coins, and gold coins are great for, like, one day.
Like, let me just lay out this scenario.
I think the U.S. dollar is going to collapse.
I think the state of Texas will probably launch its own Texas currency.
And they'll say, we want gold.
And if you bring gold to the Texas depository, we will issue you Texas currency.
And I will do that.
I'll bring some amount of gold.
Here's the gold.
I'm exchanging it for the new Texas currency so I can conduct business in Texas.
I think that's a great use for bulk gold, and I intend to do that one day.
But I can't take those same gold coins and go out to the market and buy seeds and a pound of beef and a gallon of diesel with it because I can't make change.
That is absolutely fascinating.
So I want to go back to what you said.
So you think that someday Texas might make its own currency.
What do you think the currency of Texas would be?
They would just issue a Texas currency, and they would say it's backed by some percentage of gold, is what I imagine they would do.
So you would turn in gold coins for a Texas currency that's backed by gold?
Correct.
Right.
Because I want to do business in Texas.
Of course.
And that's really how the money systems had to work for so long throughout the world, is you'd get something like this, Right?
It was the $100 bill.
And they'd say, okay, we're not going to give you all these tiny little gold coins.
We're going to give you one of these, and you're going to have to trust that our vault has gold in it.
Exactly.
You can't use the gold, but you can have a note attached to the gold.
And the gold standard really failed in a big way, because at the end of the day, the custodians of the gold, it's speculated, and They didn't really have all the gold to back up all the money they were printing.
Absolutely.
And they refused to audit the vaults.
It was the only way to do a gold standard.
And what we're rolling out, you know, we're going to go to Texas at some point.
And we're going to say, look, forget the whole vault thing.
Texas gold back.
Everyone can just have the gold in their hands.
Well, I would greatly prefer that.
I would absolutely.
The state of Texas should just adopt Texas goldbacks as the new currency.
I would greatly prefer that.
And then I would trade in my gold for Texas goldbacks.
Yeah, you'd be just trading one form of gold that's difficult to use and is difficult to authenticate for a more useful form of gold.
Exactly.
And we're already starting to see people do this.
It took a few years.
It took me a few years.
Because when I started goldback, I said, hey, you know, Coins are kind of this long-term savings play, and I'm going to turn those in for some future thing, and I'm going to be using goldbacks.
But when it finally clicked for me that the future thing I'd be turning the coins in for, it wasn't going to be central bank digital currencies.
I'm not going to trade for those.
I don't want to trade for cash if cash is a falling knife in the future.
Well, not the U.S. dollar, that's for sure.
No.
So the only thing that would make sense to trade my gold coins and bars in for...
Is this.
So...
Because this is useful to use as money.
Right?
So if that's the case, I just...
Well, I just started selling all my gold coins off and I just started buying goldbacks.
And I think it's possible that given the production constraints in goldbacks, that compared to gold coins, goldbacks are undervalued.
You know?
So the people that are doing it now, and we've seen it, again, a little bit with the data over the last five years, it used to be...
Let me back up here.
During a period where gold coins and gold bars went up 70% against the dollar, the gold back did somewhere around 90%.
So we're seeing the gold back actually outperform coins and bars.
That's really interesting.
It's not what I expected.
It's the opposite of what I expected.
And again, we just didn't have the data.
Now there's...
Go ahead.
Okay, what I want to point out though, like this is a Wyoming goldback of 25, so this has 25,000ths of an ounce of gold in it.
This is 100% of the gold is in the goldback, right?
100% of the 25,000ths of an ounce.
whereas the scenario I was talking about where Texas would have a gold-backed state currency, in the mind of every economist out there typically, they wouldn't say that you would need a 100% backing of gold.
They would say that you only need about 20% of the gold versus the currency that you issue as the state because you're only going to get some percentage of people ever requesting gold, turning in the currency for the gold.
So even a gold-backed state currency would not be backed by 100% of gold, which makes it fractional gold backing currency, which has its own inherent risks, right?
So I'm just pointing out that goldbacks contain all the gold that they claim to contain, and it's not fractional.
Wouldn't it be interesting if the way the new system worked, and I'm just speculating here, I'm not saying this is the plan, Is if that's what the model they wanted to go to and they wanted to do fractional reserve lending and they said, hey, this is the only way it works for loans and mortgages.
And if we want to live in a 21st century economy, you can't have it be one-to-one for everything.
But all the cash that everybody used was one-to-one.
They actually had all their gold.
And every time you deposited it, it was fractional reserve for loans.
Interesting.
Which is, I think, how people think the system works.
Yeah, interesting.
Yeah, because at some point, you know, a lot of transactions have to be electronic.
So then that digital money should be backed by gold as well.
And, you know, Texas has its own depository, just to use Texas as an example again.
And Texas has the ability to launch its own currency.
I mean, Texas is one of the largest economies in the world by itself.
So when are you coming out with Texas goldbacks?
That's the question I really want to ask you.
I'll tell you this.
The Texas repository does hold goldbacks.
They started holding those, I believe, back in August.
And I think they put some sort of notice about that.
We do have designs for a Texas goldback.
We've actually already done the artwork for the Texas goldback series.
What we need to do before we can do Texas is we have to go out and we have to build up the network of businesses that accept goldbacks there.
And we're finding across the country maybe a third of business owners are willing to take goldbacks.
But we still have to get people to talk to them about it, to advertise their business, to If you were to go to goldback.com, you can see the different states that have goldbacks have advertised business networks associated with the goldback.
It's like a series of local currencies, right?
But we're seeing a huge amount of goldback transactions outside of those five states.
In the last year, we have a calculator on goldback.com We've seen about 70,000 people use that calculator for a goldback transaction just in the last year alone.
Wow.
And I guess you can see that those, like the visitors to that page, are outside of the five states that you mentioned?
Right.
So we're seeing people use the goldback calculator all over the world.
Yeah.
And again, people are trading with the goldback because it has inherent value.
It's gold, right?
So it's a good trading tool.
You know, in virtually any economy.
Go ahead.
Well, plus, I think that given where the dollar is going, what's happening with the BRICS nations and global de-dollarization, personally, I think there's going to be a surge of interest in goldbacks because people are going to flock to money that holds value.
It's really that simple.
Yes, some people might use digital crypto, some people might use junk silver coins, some people might use gold coins to make big purchases with people like, oh, I want to buy your farm for a million dollars and here's 500 gold coins or whatever.
I can see that happening, but in terms of day-to-day transactions, goldbacks just can't be beat.
The thing about junk silver, too, I own junk silver, I've advocated junk silver, but there's a lot of calculations that people have to go through for that.
Have you noticed that?
Junk silver is tricky.
I used to be a huge proponent of junk silver when I started my precious metals journey.
I'd spend it at the farmer's market and different places.
And, yeah, there's a few issues.
I mean, first, you have really different qualities on junk silver.
Some of them are super worn out and some of them aren't.
A lot of the designs are designs that aren't unique to silver.
So the Mercury or the dimes, the Roosevelt dimes, they look just the same as the dimes we have today.
So you have to convince somebody that your dime is different and that it's special and that it's made out of silver because of the year.
And We're just not seeing the same acceptance rates for junk silver.
We did a big test at farmer's markets.
We found that one in five merchants at farmer's markets will take junk silver as payment, and that four out of five will take gold backs as payment in the farmer's markets that we tested.
So again, it's that allure to the gold, right?
People see it.
They're attracted to it.
It's very simple.
And the other problem with junk silver, and I hate to bash on junk silver, But we're getting fake junk silver now.
If you go on Alibaba, you can buy fake mercury dimes, and the average person, the average merchant, isn't going to be able to authenticate whether your junk silver is even real.
So it makes it all the more risky to use and accept.
Well, I mean, I own junk silver, and I love silver.
It's actually, I guess it's my second most favorite element on the table of elements.
But you make some valid points there.
Goldbacks are unique, and they're easy to recognize.
And we're almost out of time here, Jeremy.
So let me remind people that in terms, you know, you're just mentioning that junk silver can be counterfeited, but goldbacks have not been counterfeited.
And What my company is doing as a partner with your company, Jeremy, is I am secretly purchasing goldbacks from you under a different family member's name.
And then every quarter I'll be testing those using the same techniques just to confirm the gold purity and the gold content and updating my landing page, verifiedgoldbacks.com.
So this is just for people watching.
This is one more way that you have third-party assurance that the amount of gold that's claimed to be in goldbacks is actually there, and it's actually 24 carat plus in terms of its purity.
So we've got to wrap this up, Jeremy, just about out of time, but I want to add that in.
Any final thoughts for our interview today?
You know, I mean, we're just starting the new year.
A couple things.
I'd have to check exactly where it is today, but we're very close to having sold $100 million worth of goldbacks in just the first few years.
It's really, really taking off.
I believe that there were more individual goldbacks sold last year than there were gold eagles.
Which is a little easier to do when you don't have to sell an entire ounce at a time, right?
Sure, yeah.
But it's really growing.
We believe that there's over a million people that own goldbacks today.
We're seeing a huge amount of recognition for goldbacks in all states and that's going up.
Going into this new year, we really want to get more serious about educating and onboarding more coin stores to get involved in selling and distributing goldbacks.
Goldback is a wholesaler.
So I might sell to your partners, but we've got hundreds of coin stores that sell goldbacks.
We've got dozens of online distributors that sell goldbacks.
And in terms of just educating the market and really letting people understand why goldback is such a huge innovation in a space that doesn't get a huge amount of innovation is what we're looking at for 2024.
Yeah.
It's almost like we had to be more quiet about it up until now just because we had huge constraints in terms of how many goldbacks we can produce.
And now those constraints are really being lifted in a way where we can more aggressively educate people on what's going on with this.
Well, that's great news.
I know you made a lot of investments in the printing tech and scaling up, and I think the timing is actually perfect in terms of history because of what's happening with the dollar.
But I want to thank you, Jeremy, for taking the time with us today.
We obviously need to continue this conversation and talk about more use cases.
So if you could come back in another month or so, we'd really love to have you back.
Absolutely.
There's one more thing.
If you happen to be a business owner in Texas, you can actually sign up on goldback.com with your business.
If we get enough businesses to sign up in Texas, it can speed up how fast we can make a Texas goldback.
Oh, that's great.
Okay, well, I'll spread the word as well, because I know, I mean, almost everybody that I visit in Texas would love to take goldbacks.
Sure.
Yeah, so if we can start building that network, you can do it online.
You know, it just takes about a minute.
We're not going to publish the map of goldback accepting businesses in Texas until we have a Texas goldback.
Okay.
But I suspect that that's...
More likely to happen within the next few years than the next 10 years.
It's going to be sooner than you think.
Okay.
And real quick, does your Texas Goldback, because I noticed you have some of your designs of your other states, you have various animals like a buffalo and horses and so on.
Does the Texas Goldback design include the longhorn cattle?
I'd have to check.
Okay.
I think so.
I'm going to vote for longhorns.
We haven't made it yet.
Well, that's my vote.
Texas longhorn, cattle, you know, it should be our state animal, I suppose.
But anyway, Jeremy.
I'll check.
Yeah, yeah.
That'd be great.
I'd love to find out about that.
And I can't wait for Texas goldbacks to come out.
But in the meantime, it's Wyoming, Nevada, Utah, what are the other states?
Utah, New Hampshire, South Dakota.
And again, people are buying goldbacks in all the states.
Sure, yeah.
Don't feel like you can't participate if you're not in one of those states.
Yeah, exactly.
All right.
Well, thank you, Jeremy.
And thank you for joining us today.
It's great to talk with you.
Okay.
Thanks for having me.
All right.
That was Jeremy Corden there from Goldback.
And remember, the website where you can purchase these is verifiedgoldbacks.com, and that does pay us a small affiliate percentage at no additional cost to you.
So you can acquire Goldbacks for yourself and also help support this platform at the same time.
Thank you for watching today.
I'm Mike Adams here of brighttown.com and naturalnews.com.
Take care.
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