New Private Currency Uses Bills Filled With Real Gold

[Swordsmyth]

Modern currencies such as Bitcoin expect to find success in a more technological world, but a new currency known as Goldbacks might corner the post-apocalyptic currency market.

In 2019, Goldback president Jeremy Cordon said he had a dream in which he saw people paying for groceries using golden bills. Cordon had previously worked for years trying to make gold into functional money, but the dream gave him a new idea: What if a bill small enough to buy groceries could include a tiny percentage of gold?

“This felt like an epiphany because I saw people using gold as a regular money,” he said. “This fit into the vision that anyone anywhere could use gold as their currency of choice.”

For thousands of years, anyone who wanted to buy goods with gold faced “the small coin problem,” Cordon told The Epoch Times. A 1-ounce gold coin, worth about $2,000, is far too expensive for everyday use, but a cheap gold coin is impractically small.

“Gold is the best money, but it can’t buy a loaf of bread,” he said.

To solve this problem, Cordon used new technology to create a bill that sandwiches a particle-thin gold layer between two layers of polymer—the Goldback. The result can be worth as little as $3.80.

More at: https://www.zerohedge.com/technology...lled-real-gold

[dannno]

How difficult is it to extract the gold back out, if needed?

[Swordsmyth]

How difficult is it to extract the gold back out, if needed?

I don't know.
But it should be as simple as burning the note and heating it up until the gold melts.

[Working Poor]

I wonder what my Great Uncle @oyarde would say about it.

[oyarde]

I wonder what my Great Uncle @oyarde would say about it.

I think it is well past time for competing money in the US . Problem is the govt and fed will not share that view because unlike the avg Joe they know how worthless FRN's really are and any competing money with gold , silver etc will become the preference .

[Working Poor]

I think it is well past time for competing money in the US . Problem is the govt and fed will not share that view because unlike the avg Joe they know how worthless FRN's really are and any competing money with gold , silver etc will become the preference .

Do you think it is a good idea to have some of this new currency?

[oyarde]

Do you think it is a good idea to have some of this new currency?

Might in the future . Right now I think youd be better served with existing coins.