JOIN THE GOLD RUSH
A new company is revolutionizing your access to the world’s oldest and most reliable currency.
TRADE WARS. VOLATILE MARKETS. Bank fraud. Currencies that only exist on a computer screen. Is your money really safe? ¶ Many Americans are asking this question today, and wishing we could return to this country’s original form of saving and spending: gold. ¶ Good news: There’s a new debit card that enables any regular Joe or Jane to protect your wealth by purchasing physical gold. With the Glint Pay mobile app, you can instantly own gold bullion that is stored in Brinks vaults, insured by Lloyds of London, and available for withdrawal at any shop or ATM that accepts Mastercard® – without the usual bank fees or an expensive investment advisor. ¶ SKI recently had the opportunity to speak with Glint co-founders Jason Cozens and Ben Davies about the advantages of gold for anyone who loves to ski. The problem Glint is trying to solve is obvious, says Davies. “Since the last financial crash, central banks have been printing more and more money, which is unsustainable and erodes your savings as the value of paper money falls. By holding gold, you negate that – and protect your hard-earned wealth against the recession many are predicting.” There has never been a better time to own gold, says Cozens. “We also believe gold is really undervalued, so you may see very significant returns. On average, gold has appreciated by 8% per year in the last 50 years. When you consider inflation is currently around 4%, the case for gold is clear.”
Davies explains that Glint is introducing gold not just as an investment, but as money you can save and spend. “All money can be held as savings or spent for daily needs, or for more discretionary payments such as a vacation or down payment on a ski condo. It just so happens that gold is one of the best forms of saving over time.”
Cozens concurs, pointing to the wealthy families who have saved in gold and used it to make acquisitions out of those appreciated savings. “It has always been a smart ‘investment’ strategy, although we would replace investment with the word savings. So, there’s never a bad time to start putting your money into gold; if you save on a consistent monthly basis, you’ll win over time. It’s the safest form of money in history.”
The attraction to savers is obvious: new parents putting money aside for their kids, young professionals building a nest egg for a home or yacht, and mid-career couples can all benefit. However, the merging of gold with Glint’s global digital payments system also means travellers are able to benefit. With this app, there’s no longer a need to exchange cash when docking or flying into international destinations. “Our technology automatically converts your gold to the local currency in real time at the point of sale, and the Glint debit card works anywhere Mastercard® is accepted,” says Davies. “That means you’ll zip through without the hassle and high fees of foreign currency booths.”
“When foreign exhange companies say there are no fees, 99% of the time that is a brazen lie,” say Cozens. “They put an extra margin in the FX quote that they give you, up to 5% on average.”
So what does Glint charge? Currently it’s only 1%: 0.5% when you buy gold, and 0.5% when you spend it. There’s also a storage fee of 0.125%.
While there’s something retro about paying for groceries or lift tickets in gold, the benefits address very modern problems – notably inflation, which both founders identify as the curse of the modern financial system. “If you hold money in your bank, it’s depreciating,” states Cozens. “Even though official inflation rates are 3% to 4%, in reality those statistics underestimate our true cost of living. If you are losing 7% on your money through inflation, in 7 years your money is worthless. It has depreciated by 100%.”
If you want to know why gold is so important, just look at the world’s central banks, says Davies. “They all hold huge gold reserves because paper money is too easily manipulated. If people can save in gold and use it as spending money, they’re independent of the systemic risks of the financial system. By using gold, you are safe.”
Safety is paramount for the firm. Glint is regulated by British financial authorities, and every ounce of gold you buy is held in segregated accounts at a tier 1 bank. In the United States, your accounts are FDIC-insured up to $250,000. The gold is held in Brinks vaults in Zurich, Switzerland and is 100% insured.
Glint is set up so that if there is another financial crash and the world’s banking system does collapse, your gold is safe. Even if Glint itself goes down, your gold can be sent straight to you. And consider this: If there is another crash, gold will likely shoot up in value. It typically rises during times of stress, meaning you could be making a handsome profit when the stock market slides.
But what are Glint’s applications for skiers? “It’s an expensive hobby whether you’re a weekend warrior or do big spring break vacations with the family,” says Cozens. Davies, himself an avid skier, notes that buying your passes, dinners, and lodging with gold will cost less in the long run, thanks to Glint’s low fees plus gold’s historic strength against inflation. “If the value of the dollar shrinks,” he explains, “you’re protected. That can make a big difference if you’re spending $50,000 a year in the mountains. We believe on average you will save 5%, which equals $2,500 to $5,000 a year in savings.”
What about those whose dream of upgrading from a condo rental to a nice resort cabin? “There’s never a bad time to invest in gold, and Glint makes it super easy,” says Cozens. “There’s no minimum purchase, and from now until you retire your money will be safe. You won’t get there and find your cash has lost value. Saving has never been safer.”
Property can be a really hard thing to save for, particularly in popular places like ski resorts and, as with anything, there can large and sudden jumps in value. That’s why gold is the ultimate option, adds Davies. “Gold is a known constant upon which you can plan for your future. If you’re saving with Glint, your money will be keeping its value and protecting your dream.”
Co-founders Davies (left) and Cozens are frequent guest experts on finanical news networks. Learn more about them at glintpay.com/ about-glint/.
Glint’s mobile app gives you real-time visibility of your spending, debit balance, and gold savings.