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Debit card backed by physical gold?

CaptHenwayCaptHenway Posts: 32,236 ✭✭✭✭✭

Why am I skeptical? Article from the Denver Post

https://www.denverpost.com/2019/07/29/glint-pay-boulder-us-headquarters/

Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • MilesWaitsMilesWaits Posts: 5,372 ✭✭✭✭✭

    That is a hoot. Someone else holding your physical metal. How could that go wrong?!

    Now riding the swell in PM's and surf.
  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    and a debit card to boot.

    nothing like the security those offer over credit cards.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    No thank you.... I will continue to stack... and if it becomes necessary, there will be those who will accept gold for goods...Cheers, RickO

  • LukeMarshallLukeMarshall Posts: 1,983 ✭✭✭✭✭
    edited July 30, 2019 6:12AM

    A gold backed Swiss bank account that can be spent anywhere MasterCard is accepted.
    Certainly a lot easier than spending actual gold coins in the US.
    Counterparty risk, yes, but this looks like a break into the mainstream

    It's all about what the people want...

  • tincuptincup Posts: 5,187 ✭✭✭✭✭

    uh, yeh. Can't wait to sign up. Like you said... what can go wrong?

    ----- kj
  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    It is actually a somewhat interesting idea-from a user perspective, not conceptually different from maintaining an account and debit card with a Swiss bank and denominated in Swiss Francs. If I were expecting a period of high inflation and I trusted the backers, I might consider depositing about five years of living expenses.

    Higashiyama
  • MilesWaitsMilesWaits Posts: 5,372 ✭✭✭✭✭
    edited July 30, 2019 8:00AM

    Wow! I am stunned by the amount of trust towards giving a foreign country your PM's for a "Debit Card" and for a fee. Wow!

    Now riding the swell in PM's and surf.
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    I'd go for it if it were Nigeria.
    Nigeria has scads of potential millionaires who like Americans. >:)

  • davidkdavidk Posts: 275 ✭✭✭

    Sounds a little like goldmoney.com. Obviously it’s better to have physical possession, but I think that services like these may be useful now or in the future.

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