Goldbacks are intricately designed and polymer-laminated "money," which is not a paper currency but commodity money. Their intrinsic value requires no "faith" in any government, institution, or bank. With Adams' recent laboratory tests, it was confirmed that real 24-karat gold is physically present in them. Each "1" in the goldback denominations represents 1/1,000th of a Troy ounce of 24K gold. They are available in denominations of one, five, 10, 25 and 50. (Related: Mike Adams' lab tests reveal that Jeremy Cordon’s goldback bills yield 102-107% 24K gold content.).
Adams, a firm supporter and advocate of select types of privacy cryptos – the ones that could not be manipulated by certain parties – brought up goldbacks' advantage over the digital currency that uses encryption algorithms. "The nice thing about goldbacks is you don't have to install or download anything. You don't need passwords. You don't even need a computer. It is low-tech, but it has high resiliency because the value is in the gold back itself," the Brighteon and Natural News founder remarked.
Cordon agreed, saying when SHTF happens and the power grid is down, nothing will ever work with crypto. "It's not to say that there's not a scenario for crypto. There are a lot of the things that cryptocurrency has done in the market and it has made it possible for goldbacks to come out. Cryptos have already kind of crossed that bridge, where people are using things outside of dollars," he said.
The HRR host added that crypto shines when the power grid is working, when buying something remotely, or when transferring money to another country. But goldbacks make so much sense for local, direct transfers of value or barter of gifts and the idea of self-custody. "A lot of people have goldbacks for the same reason that they have any form of gold," the commodity money innovator commented. "They appreciated in value. When it started, we sold it for $2 and right now the average price is well over $4 because gold's going up."
Adams further talked about the behavior of gold prices, which hit a record all-time high last month but adjusted back a little bit since then. "But for 2023, gold was up 13 percent, which beats most stock market investments, or at least, Dow and Fortune 500 types of investments. And yet gold can continue to rise in terms of values of dollars," he said, adding that he does not encourage people to speculate on it but as gold holds value, goldbacks themselves hold value. The price of goldbacks 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. "There's not a downside to owning this form of gold in terms of value appreciation," Cordon assured.
See VerifiedGoldbacks.com for Adams' lab testing results on goldbacks, testing both purity and the amount of gold found in the goldbacks. VerifiedGoldbacks.com is an affiliate site that, at no additional cost to the customer, directs a small percentage of each sale to support this platform.
Merchants already accepting goldback bills
At one point in the show, Adams held out a sign saying "We accept the Goldback," which the company gives out for merchants who want to trade using the gold bills.
"When we started the project back in 2019, people said 'That's cool and neat, but who would take it?'" he looked back. "We went out in Utah and it took me maybe three or four days. We signed up hoping that we'd get maybe one in 10 business owners who appreciated and understood precious metals and sound money and are awake to the big macroeconomic problems. We could get these people to take the goldback at their businesses and we found it was closer to half of small business owners were willing to take payment in gold and many of them had never owned gold before."
Now, they have 700 to 800 businesses in Utah that take goldbacks for everyone who takes cryptocurrency as payment, including car dealerships, house building contractors, groceries and gas stations, as well as for deals of people buying equity and land.
The duo also touched on how the gold bills can be well appreciated as service tips. "We have a very strong tipping culture in the United States and it feels like everybody's asking for a tip now," Cordon noted, citing the several opportunities he had in raising awareness of the importance of physical gold in goldback bills by giving them away as tips.
"People are always excited to take them. It's always the coolest tip they've ever seen. I can explain to them what it is. And oftentimes, you'll give a goldback to your waitress and you'll see her starting to show the gold back to all the others. It might be the most memorable tip they get all year," he said.
Adams had the same experience just last Christmas holidays when he gave away the bills to his food servers and the chef at a restaurant. "I practically shut down the restaurant because they stopped waiting tables to talk about goldbacks. The chef was so thrilled that he gave me a giant container of his homemade soup that was super delicious. And it was like a gift exchange," he recalled.
See VerifiedGoldbacks.com for Adams' lab testing results on goldbacks, testing both purity and the amount of gold found in the goldbacks. VerifiedGoldbacks.com is an affiliate site that, at no additional cost to the customer, directs a small percentage of each sale to support this platform.
Watch the full episode of the "Health Ranger Report" with Mike Adams featuring Jeremy Cordon below.
This video is from the Health Ranger Report channel on Brighteon.com.
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