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Category: Glint's Helpful HInts

Glint’s Helpful Hints: Why Glint?

In this week's Treasury, Jason Cozens, our founder and CEO, gives the raison d'etre for Glint in his interview with GB News. He simply says:...

28 April 2022

Gary Mead

In this week’s Treasury, Jason Cozens, our founder and CEO, gives the raison d’etre for Glint in his interview with GB News. He simply says: “Gold is money, and we’ve made it everyday money for everybody out there”.

It’s not that gold is the only money. But Glint has made gold ‘everyday’ money for ‘everybody’.

Fiat currencies, government-licensed legal tender, the often pretty paper we carry around and use to buy our groceries with, are universally accepted as money.

Gold has been used as money – as a means of exchange for goods and services – for 5,000 years. Today we are living through an experiment in which, as previously, fiat currencies that are non-convertible into tangible assets dominate the planet. Historically, these experiments with non-convertible paper currencies last an average of 27 years.

The new kid on the block is of course cryptocurrency, or it may be more accurate to call the 18,000 (and rising) cryptocurrencies ‘contenders’ for the position of money.

Yet fiat money and cryptocurrency both have their drawbacks. Fiat money can be created at will by governments who need to placate their voters, as demonstrated during the recent Covid health crisis. The more paper that’s created the less it’s worth. The Dollar’s purchasing power has fallen 80% since 1970.

With cryptocurrencies, there is obviously still a fierce competition going on to become top dog, to stake a claim to be a universally accepted currency. Bitcoin may become that, but as yet it’s legal tender only in El Salvador and (soon) the Central African Republic.

Gold cannot be created by governments or computers. With Glint, gold is once again money, e-money (digitised) to be sure, but then 96% of money in the UK is held electronically. Gold is security. Glint its key.

At Glint, we make every effort to demonstrate a balanced conversation between gold, crypto and fiat currencies when it comes to purchasing power and, while we strongly believe that gold is the fairest and most reliable currency on the planet, we need to point out that it isn’t 100% risk free. While we have seen a steady increase over time, the value of gold can fall, which means that its purchasing power can also decline.

Click here to watch Jason Cozens (Glint CEO), being interviewed on GB News by Liam Halligan for ‘On The Money’

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