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Oregon Man making paper gold for trading/commerce

MeltdownMeltdown Posts: 8,608 ✭✭✭✭✭

Interesting article I read this morning and thought I'd share for comment...
Full link below is below.
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**> Portland businessman Adam Trexler is fascinated with money.

Out of college, he worked for a couple of startups, but didn’t enjoy it. So he became an economics professor, teaching about countries suspending the redemption of paper money for gold after World War I.

“People were literally using wheelbarrows full of money to buy a loaf of bread,” he said. “And that idea of hyperinflation, the crisis of a currency, just horrified and fascinated me.”

Then in 2011, Trexler learned about a Grants Pass couple who had figured out how to print using gold.

“I believed that this had the potential to be a moment in the history of money writ large,” he said.

Trexler left his academic career and raised an unspecified sum to start Valaurum, a private mint at a secret location here in Oregon that prints gold notes on resilient polymer sheets. The result is a durable gold note, what he calls a “goldback,” that can be carried around in a wallet and traded for everyday stuff like a cup of coffee.> **

https://opb.org/article/2021/07/07/oregon-entrepreneur-aims-to-create-new-way-of-trading-with-gold/

Comments

  • meluaufeetmeluaufeet Posts: 746 ✭✭✭

    Adam Trexler is a nice guy. Very responsive to my communications. He just HAS to get those costs down. I wish him luck.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Interesting concept. Gold is legal to own, buy, sell....as long as not represented as government legal tender, it should serve as barter - much like anything else used as a medium of exchange. True, there are some complex legal lines here, but Mr. Trexler seems to have navigated the issue quite nicely. I have not determined if he has considered large swings in spot price.... which could easily make a $150 Goldback worth either $75 or $300. Cheers, RickO

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