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re: Glint - Gold backed card
Posted on 11/21/22 at 4:04 pm to m2pro
Posted on 11/21/22 at 4:04 pm to m2pro
So you get the card, deposit USD in order to buy gold, then when you want to use the card you convert the gold back to USD in order to spend it. Costing you .5% in fees each time you go back and forth? so you are losing 1% on everything you buy through the card (ignoring any changes in price of gold)?
This post was edited on 11/21/22 at 4:05 pm
2
Posted on 11/21/22 at 4:08 pm to Hermit Crab
Even if there was no fee that sounds horrible.
Gold isn't an investment or something you want to back liquid assets with, it's a hedge.
Additionally, it's not physical gold. If you've learned anything in the past few months, there is WAY more paper bullion than real metals. It has been leveraged, just like the dollar. There could easily be a run-on gold or silver with all the people holding precious metals in electronic accounts.
Gold isn't an investment or something you want to back liquid assets with, it's a hedge.
Additionally, it's not physical gold. If you've learned anything in the past few months, there is WAY more paper bullion than real metals. It has been leveraged, just like the dollar. There could easily be a run-on gold or silver with all the people holding precious metals in electronic accounts.
Posted on 11/21/22 at 6:24 pm to Hermit Crab
Sounds like almost as good a deal as Celsius and Voyager.
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