Bailey
👤 SpeakerAppearances Over Time
Podcast Appearances
Okay.
For $300, you give me 300 bucks.
They care.
They just don't care enough.
So there's a threshold, 10,000 bucks or more.
Legally, when there's a $10,000 or more transaction, cash transaction, you're supposed to report it.
So if you go to the bank and you do $10,000 cash, the bank has to report this large transaction because they're trying to get ahead of, you know, money laundering and theft and all these things.
The reason I'm breaking that down is so you understand what the whole point of goldbacks was originally to be.
It was to get to where the value of gold was used for the form of currency.
And somebody had the idea of creating its own type of currency that's gold.
It's real gold that does not necessarily tie to fiat equivalency.
The flaw is that gold in of itself, just getting it is a Fiat transaction.
No matter what you do, even though gold and Fiat are not connected, just getting it is a Fiat transaction.
So I took a different stance.
I said, well, they look collectible to me.
I'm looking at them.
I like the artwork on them.
They look collectible to me.
Some of them are in limited supply.
So the Washington DC one I talked about,