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Glint – leading the ‘new normal’

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What is the ‘new normal’ going to be like? One of the consequences of the new uncertainty will, paradoxically, be a return to some of the neglected certainties of the past. Gold is one of those.

What just happened?

A global health threat turned into a global economic crisis. Over the past three months, major countries have collectively given away more than $12 trillion to rescue their economies. Rescuing jobs, protecting businesses, are of course very good things.

But the long-term cost for all of us will be heavy. This $12 trillion is borrowed money. The inevitable consequence of the massive new indebtedness in the global economy means many things. One of the most profound is that the purchasing power of your money may become very uncertain

Why is this?

The head of the OECD – the 14 nation Organisation for Economic Co-operation and Development – has warned that all this extra debt will “come back to haunt us.” In the UK for example the Treasury says that tax rises and government spending cuts are on the horizon if a sovereign debt crisis is to be avoided.

The Treasury estimates that the “base case scenario” for the UK’s budget deficit – the gap between what it gets in taxes and what it spends – is £337bn, more than double the annual deficit following the 2008 financial crash.

The economic stimulus is being done by monetary expansion (Quantitative Easing or QE). QE has many consequences but essentially it devalues fiat (paper) currencies; this could ultimately be inflationary, even if consumer price indices do not show it immediately. It is a kind of stealth inflation.

Some major companies (such as airlines) may have to be nationalised. Many small businesses may close. International travel will contract. The overall uncertainty will make consumers cut spending, increase their savings. Where to turn for some security amid all this mayhem?

Turn to Glint and gold

Glint gives everyone access to a whole new world of digital payments, using physical gold bullion which its clients own themselves, and which is held securely in the world’s largest precious metals’ vault.

Glint’s offer to everybody is the chance to maintain the value of their earnings and savings, through holding gold. The technological development that makes this possible is the internet, which is borderless, just as is gold.

As countries struggle to emerge from the global recession they may compete to stimulate exports by devaluing their currency, making their exports cheaper.

Competitive devaluation in a recessionary environment can create a vicious circle of beggar-thy-neighbour and a currency war, inviting retaliatory imposition of external tariffs, exacerbating poor economic performance and also risk hyperinflation at the same time. It could become a recurring theme this decade, as major economies battle slow growth and increasing deflationary pressures.

When money is being devalued consumers prefer to own real assets. Gold’s advantages over paper currencies is that it is universally accepted as a means of exchange; its price does not vary across borders; and it cannot be devalued at any government’s whim. It therefore has the characteristics of a truly global currency.

Glint makes this universal currency available to all via its app and prepaid debit Mastercard. Gold has thrived not just in inflationary periods, but in times of economic turbulence, policy uncertainty, and increased economic volatility including deflation. There have been two dominant themes over the past 50 years – investor preferences for new technology, and gold.

The winner is….

We believe oil and energy majors will diversify their earnings base and shift increasingly into renewables. A wider use of electric cars will cause demand to rise for base and precious metals, both key to electric vehicles; mining investment in those metals may lag the supply capacity required for the increased demand.

Pharmaceuticals will be recipients of much increased R&D grants and investments. In the new world normal Artificial Intelligence-related shares may gain traction.

This would be closely related to the computer industry; especially how closely digital computer technology can adapt to the workings of the human brain.

The combination of speed, responsiveness and reach, will unlock further potentialities in technology – self-driving cars, drones, virtual reality etc. – and telecoms. In the increasingly digitalised world the requirement for cyber security will increase.

Gold and digital technology combined in Glint

The 2020s will hasten the ongoing payments revolution. The era of the cashless society is unfolding before our eyes.

Increasingly the general public will move to convenient digital wallets for daily transactions, especially as P2P payment modes proliferate.

This revolution will come about thanks to the inventive technology companies, which facilitate secure and effortless payment methods through cards and mobile digital telephony.

Governments have always regarded gold as the ultimate reserve of money. They fight hard to retain control over their paper currencies.
But they cannot control gold.

Glint makes gold available to everyone; it is no longer the preserve and privilege of governments.

Glint makes that possible with its app and a prepaid debit card. Gold has thrived not just in inflationary periods, but in times of economic turbulence, policy uncertainty, and increased economic volatility including deflation. Times like these, in other words.

Protect the value of your money with gold. Glint it!

Around the campfire: Awesome Rural Broadband

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This week’s Around the Campfire chat with our Founder and CEO, Jason Cozens

I never thought I’d have to test my skills as an electrician / tree surgeon, (I actually trained as an architect), or consider my expertise when it came to configuring awesome rural broadband… but here at Glint, like the gold we love, we are made of resilient stuff.

So, when the lock down happened and we had to self-isolate, my partner and I decided to move to the countryside, to my in-laws, with whom she runs a business, so they could run operations together and support each other. So far, so good… nice, fresh country air, warm weather for the time of year and an established Glint team who have built a secure distributed system and had previously conducted tests for working from home as part of a disaster management and recovery initiative back in December. After all, our clients want 100% up time from our gold-based alternative to banking, payments and money, as they should.

What could go wrong? This is idyllic, right?

Wrong… In order to work as closely as I want to with my brilliant team, I need brilliant communications, excellent video conferencing and super-fast downloads… not the 1-3mb/s I was getting from the ADSL rural broadband. I was locked out in lock down.

My first thought was Mobile Broadband, use a dongle to get more speed! But still, with the small windows and thick walls of the farmhouse, the best I was achieving was around 10-15mb/s and needed more than 50, ideally more than 60! Now, I’m in the business of saving money with reliable gold, not printing cash and wasting my kids’ inheritance, so going down the fibre optic route at the princely sum of around £10k to get online seemed like a problem worth confronting.

So, like with everything we do at Glint, I began by researching. I became expert in all things 4G, 5G and beyond… to find the solution in mobile broadband with external antennas. My concept was simple: I would use a big external antenna to pick the signal from a cell tower a couple of miles down the country lane. I purchased the most powerful antenna I could. Bought two, if you put them at right angles they ‘polarise’ with each other! I confess, I can’t fully understand the science but it means a stronger signal. So after setting up the kit, lying the antennas in the garden… (it took a while to configure the router and the access points)… I got there, thanks to some clear instructions and visits to a few discussion forums and support pages via my mobile phone.

Moment of truth… I connected my laptop and hallelujah! I had a signal coming through straight away. Then I got a long extension cable and started moving the antenna around the garden; I had to find where the nearest cell towers were; another website gave me a compass bearing (I used the compass on my phone), using the co-ordinates of my and the cell towers locations that I got from google maps. Next I needed height, the higher I could get the better the signal… the roof? Even better, there’s a huge oak tree in my in-laws’ garden, so I got to climbing! With the help of a local, surgical mask wearing, electrician and ensuring we maintained our two meter Covid distance, we fed an extension cable from the house up to the tree and finally I plugged everything in. Fingers crossed! Hey presto! It only worked!! I got 50mb/s upload and download! Even with antenna on the floor, but at least pointing in the right direction… things were looking good.

With a bit of tree pruning and better pointing of the antenna I managed to get 5 bars and, wait for it, 70mb/s download with 60mb/s upload. I bought myself a waterproof box to put the router in and attached to the fence at the base of the tree and now, I’m delighted to say that I have more than enough broadband to support multiple simultaneous video conferences from different parts of the house and uploading/downloading of large files and video streaming. So, after a bit of creative head scratching and out of the box thinking, we got there; just another day at the office where we’re used to looking at what’s needed and finding an innovative way of getting to the best solution; and do you know what, I paid for this awesome rural broadband in gold, using my Glint Card, 17.58 grams to be precise.

I hope you’re all safe and healthy and looking out for one another during these very difficult times. The entire Glint team has now been working from home for the last six weeks and I’m delighted to say, it has had no direct adverse impact (apart from the lack of human face to face interaction the world craves), there have been no changes in operations and gold remains the most stable way of investing our savings, as well as paying for broadband. I wish you all well and look forward to more regular chats in the future.

All the best, Jason.

Jason Cozens
CEO, Glint.