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Leonard Matthews's avatar

Hi Glenn, I have looked into Goldbacks a little and found them favorable but I see one problem. The original buyer is not paying the price of Gold. He also has to pay for the manufacturing process and the profit for the producer. From then on when he uses them he can only get the current price of the gold. Therefore it seems to me that this is going to be a real difficulty in getting this program very far off the ground. Isn't this correct? I don't see any way that this is fair but it may be the only way that it can work.

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Lester Pearson the Second's avatar

Once again, you have a solution for the USA only. Please pay attention to the needs of your international members. Thanks for what you do. Much of it works for me here in Canada, but I wish you would at least acknowledge at the beginning of a post that it is for the US only, so that I don't have to waste my time reading the full post and following links when it's all a waste of time for me. Thanks.

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ELizabeth's avatar

Is there a how-to that involves not only CSAs and things one would purchase now with cash, and includes also payments for mortgages, taxes and the like? And yes, we do need to be able to compare how much 1 goldback is in terms of dollars and/or cents or how many goldbacks we would need to equal, for example, $1,000. People are not intuitively familiar with goldback values.

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ELizabeth's avatar

Not CBDCs, CSAs

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ELizabeth's avatar

That makes sense - to me it makes much more sense than cryptocurrency, which I do believe is controllable by AI. However, I have a question. What is the exchange rate between the current fiat money and Goldbacks. For example, I buy a dozen eggs at the store now for $6, Assuming I can manage to change my egg sourcing habits to local farmers (I work during farmers market hours, and there is limited information on CBDCs and local sources that one does not have to drive miles to access) Assuming that I can access local sources, what would I be able to buy for a

Goldback that I can buy now for $6? Then, how much of my fiat money would I need to part with to buy Goldbacks? I do not have a business, and pensions and social security are limited, so there is a need to plan.

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Freedom's avatar

Awesome project Glenn.. I have followed you for a long time and once was an affiliate for your products, now this is something I wish you had an affiliate component to, that would help it go viral..

Can these GoldBacks backed by gold be confiscated by the federal government, like the liberty dollars were? Also are you also including a trade and barter component to this or something separate?

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Richard Emerson's avatar

Can I buy a house, pay for insurance, taxes, etc.? There is a long list of “How do I…?” and I’d love to kick the impotent dollar to the curb by using Goldbacks.

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