Gold News: A Gold-Backed Debit Card? Meet Glint.

Today in gold news, we have a development where the big surprise is that this didn’t happen before. Hailing from London, Glint is a debit card that lets you buy gold and use it as the basis for purchases.

How can this work, you might ask?  You download an app on your smartphone, open an account, wait for approval, and in a few days, you can buy gold in your new Glint account. Your gold is centrally held and tracked, and you can then use the Glint debit card – serviced by MasterCard – that arrives via physical mail to make purchases. The product just moved into beta, which means it will be a little while before it is really in prime time. Early adopters can buy things in British pounds and gold itself, at purchase-time-current inter-bank exchange rates.  

That could be useful, unless you buy that new Mercedes as gold is taking a hit.  Next year’s plans include expansion into Europe and Asia, so presumably you can then buy things in Euros, yen and yuan at the least.  It sounds a bit like someone took a few ideas from Bitcoin and went old school with it. Today’s featured article gives more details.

 Related: You’ll Never Guess How Germany is Affecting Gold

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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