The Gold-Backed Currency for Everyday Use, Already in Circulation (Szn 4, Ep. 32)

Goldbacks seek to solve one of the challenges of using gold as a currency of exchange: the lack of small denominations that can be used in point-of-sale transactions (2:57);

A single goldback is worth 1/1000 of a troy ounce of gold, or about $4 at current rates. The notes are imbued with physical gold through a microtechnology process and serialized (5:06);

Goldbacks trade at a premium to physical gold because of the engineering and artistic labor that goes into their production -- and demand, as supply has historically been limited (8:54)

Goldbacks as a disaster hedge (12:48);

Background on the guest and how he came to create goldbacks (16:57);

The limitations of cryptocurrencies when it comes to creating a gold-backed currency, through the guest's own experience (21:35);

The legality of creating gold-backed currency (24:12);

Between $8 million and $12 million-worth of goldbacks are currently in circulation, but goldback.com is a wholesaler (26:48);

The guest's investing strategy and the concept of gold-backed leases as a way to profit from the goldback trend (30:57).