Local 'Goldback' Currency Gaining Traction During Pandemic

Рет қаралды 24,646

3 жыл бұрын

A growing number of small businesses across Utah are now accepting what are called “goldbacks" - a local currency that's been gaining attention during the pandemic.

Пікірлер: 116

@alicecoppers8980 3 жыл бұрын

I’m sure the banking cartel hate this. Keep it up Utah

@El_Imperator_Del_Territorio 2 жыл бұрын

At first, I thought Goldbacks were weird because I had no idea what they were, but then after I did some learning, I started to like them quite a bit. Now, I have my own and I absolutely support this project.

@ndrthrdr1 2 жыл бұрын

Same here.

@silver-sheepdog9191 2 жыл бұрын

They are a beautiful depiction of artistic currency infused with actual GOLD... what's not to love? 🇺🇸

@goldenrod8861 2 жыл бұрын

Which would you rather? A promissory note representing debt from a government that lacks integrity or gold? Five millennia would say gold, how 'bout you?

@TheRookie330 3 жыл бұрын

Nevada goldback and utah too come on ohio this is awesome

@lennybrewster4673 3 жыл бұрын

Wyoming is next 👍

@kivie13 2 жыл бұрын

@@lennybrewster4673 South Dakota just announced.

@falloutpropguy Жыл бұрын

Going to gun shows in California I want to say roughly 30% of vendors will accept goldbacks about a year ago now I want to say it's a bit closer to half

@ItchyPilauBoto 3 жыл бұрын

I would never use my goldbacks for any kind of crap unless it’s the apocalypse

@robertdeus4262 3 жыл бұрын

Yeah, but just make sure you have a good gun too, or you would about to be robbed by people for your goldbacks.

@ItchyPilauBoto 3 жыл бұрын

@@robertdeus4262 yessir, I’m also sitting on cases of ammo and own more firearms than i am old.

@Jerry-me1fy 2 жыл бұрын

I don't think gold silver or any precious metal would be worth anyting in an apocalypse

@SecNotSureSir 2 жыл бұрын

@@Jerry-me1fy when people say things like that, they are just referring to the end of the current economic system or ruling structure. During and mostly after, this would be probably one of the best ways to barter.

@Iamonepercent 2 жыл бұрын

@@robertdeus4262 Depending on your state (mine being arguably the best state for guns), it would be extremely stupid to try and rob someone.

@tracymendez7042 3 жыл бұрын

Don't know if the math was right or I didn't understand, but I think he gave him 3 goldbacks which were about $3 a piece, which was around $9. The clerk gave him $2.87 back. So that would mean that apple was $6.11 legal tender.

@1810jeff 3 жыл бұрын

Yeah it gets weird when you mix currencies, maybe they should make larger ones with silver to cover smaller purchases since gold is incredibly valuable.

@1810jeff 3 жыл бұрын

@@baremetalmachine933 Isn't there already a precious metal gray market where people pay for things with gold to avoid taxes if so I doubt they'll crack down on it unless it actually starts being a threat to their fiat

@1810jeff 3 жыл бұрын

@@baremetalmachine933 Yeah it's just not yet big enough to be worth dealing with but if enough people just pocket them and don't report them they will start sniffing. But yeah I don't want feds sniffing around precious metals since I can totally see them making lists of precious metal holders whether it be to make sure they get their pound of flesh or for that day when they run out of money and they start doing mandatory gold and silver "buy backs"

@1810jeff 3 жыл бұрын

@@baremetalmachine933 Without a doubt, the US is gonna make Venezuela look like a bunch of economic geniuses.

@BlvckForestOfficial 3 жыл бұрын

@@baremetalmachine933 so basically you mean it cost more to buy em than it does to actually spend em. Gold would have to rise very substantionally for the GBs to be worth equal to we actually pay for them . .

@mixflip Жыл бұрын

Interesting how the mechanic said goldbacks are better than bitcoin.

@silverstallion4634 3 жыл бұрын

Way better than bitcoin! I agree!

@elliotalderson6769 3 жыл бұрын

Each has their scope of value and usability. And each are looking to break away from the current fiat system in different ways. But if it’s the privacy aspect of bitcoin vs physical goldbacks that is the question, then privacy coins like Monero should be looked at instead of bitcoin.

@danialhillmann5374 2 жыл бұрын

@@elliotalderson6769 bitcoin is still fiat money

@SoCalFreelance Жыл бұрын

Bitcoin will soon vaporize into nothing where gold has maintained its value for thousands of years.

@theAxehound 2 жыл бұрын

We need money that is completely independent from states (or they will keep deflating it)! End the extortion racket known as the Federal Reserve!!

@MikeLawrencePhoto 2 жыл бұрын

Decentralized money definitely exists..and it's gaining value wildly

@chrisbytwerk3712 Жыл бұрын

Goldbacks are decentralized currency Right?

@theAxehound Жыл бұрын

@@chrisbytwerk3712, yes, to the state level. I believe its five states now making them. I would say all P.M's are "decentralized" in that they can't be debased or inflated by the extortion racket known as the Federal Reserve!

@chrisbytwerk3712 Жыл бұрын

@theaxehound2152 what is PM'S?

@theAxehound Жыл бұрын

@@chrisbytwerk3712, precious metals

@coctailer 2 жыл бұрын

We accept Goldbacks at our gun store.

@silver-sheepdog9191 2 жыл бұрын

Why? "MERICA" That's why!

@coincollectingfun 2 жыл бұрын

Smashed the like button! I love Utah goldbacks! I bought a small amount of them over a year ago and now I want to buy many more!

@wickedcrypto6004 3 жыл бұрын

New Jersey needs to get on board lol

@wickedcrypto6004 3 жыл бұрын

Unfortunately when the government lets its people down America is resilient. We can't trust in the dollar no more. What guarantee its people that dollar has value? Uncle Sam is a long term tax gainer. Tax on everything from Goldback to GLD"S 28% collectible tax rate hahaha.

@cire36 Жыл бұрын

I bought a 1oz bar of gold online. The company also sent me a 1 Nevada Goldback. I thought it was some kind of trinket so I just set it aside (almost threw it away). About 3 months later I was something online about them and now I'm buying as much as I can afford.

@thisguy9993 2 жыл бұрын

we should also have silverbacks

@xironbeastx8677 2 жыл бұрын

It's called pocket change

@OttoHIGHtower24 2 жыл бұрын

He was supposed to give him 1 Goldback 😂

@ndrthrdr1 2 жыл бұрын

They didn’t say haw much they shops charges for their fancy, decorated apples. Apparently, they;’re like caramel apples with other coating combinations.

@ndrthrdr1 2 жыл бұрын

They also didn’t say how many apples he bought.

@SoCalFreelance Жыл бұрын

I don't think the auto repair guy understands. He is holding actual gold which holds its value independent from any fiat money scheme.

@silverstallion4634 3 жыл бұрын

I love goldbacks

@lennybrewster4673 3 жыл бұрын

Bad math on that apple purchase. He should've got change. That store is taking advantage.

@ndrthrdr1 2 жыл бұрын

It’s not just a plain apple.

@ndrthrdr1 2 жыл бұрын

The cashier put the Goldbacks in and reached for the regular fiat cash.

@douglascooper1987 2 жыл бұрын

Very interesting 🤔

@wrkeith1 2 жыл бұрын

Good morning from East TN

@ManMountainMetals 2 жыл бұрын

Good evening from West TN

@aaronm9044 3 жыл бұрын

That’s so cool!

@patc5919 2 жыл бұрын

What people forget about goldbacks is that you really don't lose the premium when you spend or sell them. And If you buy them from websites that offer them at the exchange rate with free shipping over a certian amount, all your really paying is maybe sales tax. I don't see the premium as a net loss since you get your premiums back completely. The exchange rate is the price of the gold plus the manufacturing cost. You're esentially paying for the technology and useability of spendable fractional gold. The main issues with fractional gold is that its too physically small to spend, and the premiums are absurdly high, so when you try to spend or sell a micro bar, or coin you're losing money. Goldbacks solve that for the trade off of being less of a stack gold by weight for the cheapest premiums kind of stacking and more of a extremely difficult to counterfit fractional gold coin that maintains its high premiums when you sell it. Less gold, but more consistency and stability when using it as a form of money like its intended.

@capt.jackoffgrid 3 жыл бұрын

Love this

@AbramTaylor-pw9gs 6 күн бұрын

Love Goldbacks

@VerseOsmoBeats 3 жыл бұрын

So he paid like $7 for 1 apple? [If 1 goldback = $3.24, 3 goldbacks = $9.72 and he gets $2.80 in change back?] Why? Would it be better to stack em? Premium is high though too.....

@whackcracka 3 жыл бұрын

That was a speciality apple treat, not literally a 35cent apple

@pajones02 3 жыл бұрын

@@whackcracka He might have bought more than one! I mean, I hope he did!

@majinperez6993 Жыл бұрын

yes but they trade at premium

@kevinstrawbridge4026 2 жыл бұрын

HOW DO I GET THE GOLD BACK DOLLARS 💸 SO I CAN DUMP MY JUNK DOLLARS 💸 THEY OUR WONTH ONE CENT. OUR DOLLARS OUR COUNTRFIT. 💸

@phoenixesrisingacademy Жыл бұрын

These are backed by GOLD soooo it's like food stamps. 5 BUCKS in fiat vs 1.50 in gold back. Shouldn't be paying full price.

@stephb7702 2 жыл бұрын

Theyre all going to get swated if this ever starts getting traction...

@TonyTheSharkBaloney 2 жыл бұрын

End the Fed!

@chopstix4883 7 күн бұрын

❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂

@mr.b6374 3 жыл бұрын

but is it legal tinder outside the Utah Valley? highly doubt it

@jamiesmith4293 3 жыл бұрын

It's gold. That means it IS money. The dollar is a fiat currency. Did you know that fiat currencies revert back to gold and silver when they collapse? And they always collapse.

@L33TNINJA51 3 жыл бұрын

Yeah gold is legal tender in all of Utah.

@user-pd3im8uw9b 3 жыл бұрын

Read the constitution.

@kenthouston467 3 жыл бұрын

Yes! Goldbacks are legal in all of Utah. Go here to read more about at goldback dot com forward slash legal Even without this designation, the Goldback is still legal to spend and use anywhere in the United States. There have been thousands of other local currencies in the United States and there are nearly a hundred active ones today. There are also thousands of different gold products available for sale in the U.S. The Goldback is a marriage of the two. The Goldback is valuable in large part because it is gold. See goldback dot com forward slash the-faqs

@Dudeguy36 3 жыл бұрын

It's not legal tender. It says it on it. Utah legalized the use of silver and gold as currency within its state in utah. I think Nevada and a few others are going to do it as well. They have a low premium considering how other types of fractional gold sell and they're beautiful. Anyway, you can barter with them with whomever, but getting my daily Starbucks with a goldback that I had to pay shipping for... nah. I have all of them as a collection type of thing. Spent about 1100 or so for and I use them to tip the bartender, cleaning lady, waitress. That kind of thing.

@siriusdigitalmedia 3 жыл бұрын

It can't be used online.

@kepp81 3 жыл бұрын

Which also means it can't be tracked, traced, etc. Buy local. Support small business

@ZGFyZG8g 3 жыл бұрын

@@kepp81 monero

@kivie13 2 жыл бұрын

Actually it can be. Get a UPMA account and vault Goldbacks. They offer a debit card linked to your Goldback account and you use the debit card for online purchases. The downside is that if you use it regularly there is a monthly fee, the upside is if you use it just for emergencies or deposit a certain amount each month into your vault account you can avoid those fees.

@ndrthrdr1 2 жыл бұрын

For me, that’s a plus. I spend too much online.

@siriusdigitalmedia 2 жыл бұрын

@@ndrthrdr1 Have you considered the fact that everything you need is not produced locally?

@108jhon 3 жыл бұрын

love cash

@elizabethanders8069 3 жыл бұрын

CASH as we know it will soon be WORTHLESS 🤨

@pajones02 3 жыл бұрын

Wow! Problem is the person paid over $4 for that $1 goldback that was accepted as $3 by the merchant.

@kivie13 3 жыл бұрын

You can buy Goldbacks cheaper than the current market price if you know where to look. Anyone paying more than market for a 1 Goldback note is a fool. Also a 1 Goldback note does not equal a 1 dollar bill.

@shauncronin5885 3 жыл бұрын

@@kivie13 maybe it’s worth more than 1 but the merchant treated it as the equivalent of a one dollar bill.

@kivie13 3 жыл бұрын

@@shauncronin5885 Its simple Shaun, if a merchant doesn't want to respect its value then that merchant just lost a sale you can just use fiat. Also, there are ways to purchase Goldbacks that you vault and you don't lose any premium. You sell back at their market price, so when gold goes up the value of your Goldbacks go up. If you hold physical Goldbacks and want to sell back to them you take a 5 percent hit for a restocking fee so that is even less than the premium you would normally lose from buying from a bullion dealer and selling back to that dealer or LCS. I have no way currently of spending Goldbacks and I still purchase them. Take a look at UPMA. You can also get a debit card that is linked to your Goldback account that you can turn on only when you need it and then turn off so you can avoid fees as well. Edit: Also UPMA doesn't charge any vaulting or membership fees for the Goldback accounts.