GLINT - 'reintroducing Gold as currency'

markj113

This has all gone a little off topic.

Back to reality. I have tried Glint, works ok and had no issues to date.

Its easy to use, legal and allows you to speculate on the price of gold and spend the funds easily with a linked master card. It is not about hiding money abroad as you have to do a bank transfer to get funds in the account in the first place.

Job done.

Computer_Beginner

Malthusian wrote: »

The average Zimbabwean citizen doesn't have any money.

That's probably true now, but it wasn't always the case. It was previously a thriving agricultural economy, know as the ''breadbasket of Africa''.

ValiantSon

Computer_Beginner wrote: »

That may well be true, provided that your average citizen in Zimbabwe is able to access his funds. There's also the risk that the Zimbabwe government would just take the funds out of the account.

Obviously the rich well connected people at the top will be able to open accounts overseas etc. But for your average local, then savings in physical gold (hidden away somewhere) and USD for day-to-day spending will probably be the best bet.

Luckily, I live in the UK. So hopefully I'll never have to experience such conditions.

Why would the average person not be able to buy equities (subject to having any money to buy them with, which applies to gold too)? :think:

Why do you think that the Zimbabwean government (or any other, for that matter) would be able to seize your equities investments, but not your gold or US dollars? :think:

masonic

It feels like this thread has drifted off into post-apocalyptic fantasy-land. As most gold threads do.

Computer_Beginner

ValiantSon wrote: »

Why
Why do you think that the Zimbabwean government (or any other, for that matter) would be able to seize your equities investments, but not your gold or US dollars? :think:

Because you can't hide equities.

ValiantSon

Computer_Beginner wrote: »

Because you can't hide equities.

Not true.

You think that the police in a corrupt and tyrannical state wouldn't just ransack your house if they thought you might be hiding money or precious metals?

dividendhero

dealer_wins wrote: »

Interesting thread. I think having maybe 5% of your portfolio in gold isnt a bad idea, just in case the looney left get in.

Suspect next UK Government will either be looney left or looney right

As for GLINT - can't see why anyone would use it. If you want physical gold, by all means by some and store it somewhere safe. If you want a link to the gold price buy ETF's or shares in a gold miner

Malthusian

Computer_Beginner wrote: »

Because you can't hide equities.

If you can hide gold you can hide equities. Equities return more than gold. This is why the statement this started with, "Turks wish they had invested in gold", is incorrect. Everything that gold would have accomplished for them would have been accomplished better by a globally diversified equity investment.

Computer_Beginner

Malthusian wrote: »

If you can hide gold you can hide equities. .

Most people can go to a shop and buy gold in some form for cash. They can then bury it in their back garden or somewhere nearby. Obviously there are problems with this (shop may ask for ID or not accept cash, gold may be fake, someone may spot them etc). But in less developed countries this is usually quite a simple task.

So how does someone hide shares? I live in the UK, with internet access etc and I don't know how to do this. So how would your average African?

cashbackproblems

Iv been using glint for some time, why is it hilarious to want to protect your money against fiat money manipulation which is what we have seen over the last 10 years on a massive scale? Currency not backed by anything v gold which is a finite resource and cant be played by central banks

Glint also has an offer where if you deposit 1k you get FREE transactions and purchases till December 2019.

You can also pay for everyday items in “gold” as its mastercard