Franchise City's video: Gold Bills Replacing US Dollar Goldbacks are Here

Some States are now creating their own alternative currencies made of Gold known as the "Goldback" Could this save citizens if we see a currency collapse of hyperinflation? States are actually eligible to legally create their own currencies as long as they are silver or gold. And some states seemingly concerned about the handling of the dollar are right now literally creating their own alternative currencies out of gold. Utah became the first state declaring US-minted gold and silver coins as legal tender. The Utah Legal Tender Act was passed way back on March 10, 2011. In March of 2017, Sen. Bob Hall introduced SB2097, a bill aimed at establishing a legal tender status for gold and silver including protections from seizure by state authorities. Remember at one time gold was made illegal to own, back in 1934 the Gold Reserve act made it illegal to own gold and you had to sell it to the government or risk confiscation and criminal charges. So it is encouraging to see states putting these protections in place. One of the arguments against using gold as currency was always that it can't be broken down into small enough increments to be functional. This new technology, called the Goldback breaks gold down into widths 1/10 of a hair, and sandwiches it between 2 polymer layer. $1 notes contain 1/1000 oz, ranging to the $50 notes containing 1/20 Troy oz.. These are available for Purchase now at various metals shops online. You can get the Nevada Goldback, the Utah Goldback or the New Hampshire Goldback. We've ordered some bills we'll show them as soon as they get here so hit that subscribe button and the bell. Interestingly entrepreneurs are already doing the arbitrage play on ebay buying and reselling the notes for a profit. If you are interested learning about *silver arbitrage Ill post a link at the end of the video, its the same concept for Goldbacks. The currency is technically legal tender in Utah, and Goldback states its actually legal to spend and use these bills anywhere in the united states. I would love to do a video trying to buy something with these , how many clerks do you think would accept it. That said the company states that 25-50% of stores do accept it when you explain to the business owner. As unique as the goldback bills are, there are many examples of silver already being legal currency. If you own Candian silver or gold maples, this is legal currency. The face value of the maples is $5. The gold maple is actually $50 face value, and legal currency as noted on the back of the coins. so you could technically walk into any establishment and pay in silver or gold coinage. Now the clerk is unlikely to take it because most people have never seen a silver or gold maple, and yo would be crazy to use it because the metal value far exceeds the face value at about $40 Canadian for silver and $2300 for gold. In order for states to enact their own currency they first have to pass a bill that metals are exempt from taxes and capital gains. Some states have voted against this, so are unlikely to be able to get to the next stage of creating their own gold backed currencies. This is a fascinating situation, and if the federal currency begins to show signs of weakness or even collapse, we could see individual states protecting themselves by using these gold currencies. I love Bitcoin, but lets be honest for many people without the technical know-how, this is a much simpler solution. And if the government ruins the existing currency it is nice for those without the knowledge or desire to buy crypto to have an alternative How they make the gold bills: https://youtu.be/eKYxlmwrKQw How to flip silver or Goldbacks for profit. https://youtu.be/OU9XClNPop0 https://goldback.com/ https://youtu.be/eKYxlmwrKQw production of gold bills https://constitution.congress.gov/browse/article-1/section-10/