While it may seem old fashioned to turn to the world’s oldest form of currency as the newest trend, Adam Morton of True Precious Metals, the authorized distributor of Goldbacks in Canada, explains how the gold infused bills are ‘Sound money.’
Through recessions, depressions and global wars, the value of gold has withstood the test of time. That’s the beauty of the alternative method of Goldbacks as an exchange method for goods and services. Founded in 2019 Goldbacks aren’t backed by gold—they are gold.
Goldback is a patented, scientifically produced and beautifully designed voluntary, non-dollar, complementary currency. The shiny shiny bills are roughly the size of standard US and Canadian currency and contain fully sealed fractional amounts of 24-karat gold. Coming in denominations of 1, 5, 10, 25 and 50 the value of a Goldback is based on the current exchange rate of gold.
Morton explains that the inevitable arrival of CBDCs (Central Bank Digital Currencies) will invariably be the death of financial freedom as we know it.
He says that governments will have the ability to make CBDCs expirable, programmed to only buy certain goods and even revocable should a citizen’s social credit score drop or if they offend the state (Pssst-don’t mention bathtubs to Trudeau–ed).
While the Bank of Canada recently announced it had shelved its plans for a CBDC, the world wide push by the WEF (World Economic Forum) towards a global digital dollar continues unabated.
Morton, a 42-year-old Toronto entrepreneur with extensive experience in precious metals launched the authorized Canadian distribution of Goldback this past June. He explains that what people are clamoring for is a “stable, reliable form of currency.” He enthuses that Goldback is a tangible asset you physically keep and since it’s made of gold it maintains value over time.
“It really protects your wealth from inflation. It’s fractional and functional and one of the most secure ways to purchase gold with confidence.”
CBDCs could BRICKS on you
While Goldback is the world’s only exchangeable bill made of gold, the pending release of the BRICS dollar called the Unit—a planned new currency by Brazil, Russia, India, China, South Africa and other nations—will be backed by gold at 40%.
“The writing is on the wall for fiat currency,” warns Morton. “It’s going to be replaced by CBDCs or BRICS, but there is an alternative.”
Not peddling Alt-right currency theory
Thanks to various changes in state legislation making precious metals a recognized form of currency, Goldback is already used in businesses and stores in Utah, New Hampshire, Nevada, Wyoming, and South Dakota. New Goldback designs may soon be legal for use in Texas and Florida.
The artfully crafted bills are a popular denomination of trade between individuals on a person to person basis in the aforementioned states.
Recently a guest on the GWU! podcast, Morton says that a parallel economy using the sound money of alternative currency is flourishing in the wake of big government authoritarianism in a post pandemic world. That’s why he’s excited to bring the product to market in Canada which saw some of the worst intrusions of government into people’s lives.
“A lot of Canadians didn’t like the controls the government put on everything during that time. We witnessed one of the greatest government overreaches when individuals’ bank accounts were frozen.” Many of his customers are now looking for various ways to diversify their wealth and get out of the system. The bills, which are currently selling in the $8.50–$9.50 price range have seen their value grow and grow as the price of gold continues to surge. This year gold reached a 30% year to date gain, leaving the SNP 500’s paltry 20% return in the dust.
“I can’t keep Goldback on the shelf. The freedom the product gives consumers to have the reliability of sound money to interact in goods and services is literally priceless.”
Looking over the hedge against inflation
As an inflation proof way of protecting one’s wealth, gold has really never gone out of style. While fiat dollars generally fall and eventually collapse in 90 years, gold never seems to lose its luster thanks to the difficulty to mine the beautiful rare metallic ore that is used in jewelry, coins, and electronics.
“Gold was $20 an ounce in 1920. What does $20 buy you now? You can’t even buy a Happy Meal at McDonalds. But that ounce of gold is now worth upwards of $3,600.”
“It’s been awhile since we’ve seen gold this bullish.” Morton says this upward trend is a result of a number of factors; federal reserve interest rate cuts, geo-political uncertainty as well as central banks and BRICS nations purchasing large amounts of gold for their reserves.
A Golden Opportunity
Morton happily preaches the good news of gold to everyone he encounters, often offering it as a tip to servers and letting anyone who’s curious look at and touch a Goldback.
“The minute you see it hold it and feel it, you want it.”
Even with the wild excitement on True Precious Metals social media, he insists that the company is all about integrity, trust, and building a like minded community.
Morton and True Precious Metals will be at the upcoming Toronto Coin Expo on October 4 and 5 along with representatives from Goldback. Attendees at the show will have the chance to see, touch, purchase, and potentially win free Goldbacks courtesy of True Precious Metals.
