We Came Within Hours of Complete & Utter Breakdown of the Financial Payments System (Uncut) 01-28-2025

We Came Within Hours of Complete & Utter Breakdown of the Financial Payments System | Jason Cozens

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That’s 1-888-815-4237. We’re available after hours and on weekends, and we look forward to speaking with you. Welcome back to Liberty and Finance.

We’re very excited to have a first time guest today, and this is actually quite exciting for me because this answers some questions that have been asked for a long time by many of our viewers, subscribers, and clients. Jason Cousins is the CEO of GlintPay. He’s also the founder, and he’s going to tell us why it makes it so possible for people to use gold that is stored outside the banking system in a vault to preserve their purchasing power and to reduce their exposure to inflation, to reduce their exposure to the banking system, and yet to be able to transact instantly at many merchants around the world.

Jason, thank you for joining us here on Liberty and Finance. Done again. It’s a pleasure.

Thank you very much for inviting me. I’m believing that today is going to be an exciting discussion because it bridges a gap between what otherwise can feel like two worlds. We have the traditional world of sound money, nominally gold and silver, that have been around for 5,000, 6,000 years and that people have always used to transact and to store their value, and yet we have also the instantaneous electronic transactions that we’ve all gotten used to with debit cards and credit cards and all kinds of Apple Pay and whatever else on our phones, et cetera, and it seems that those are two entirely different worlds.

And often when I have clients who purchase physical precious metals to hold in their own possession, when it comes time to liquidate any of that for a particular need or opportunity that arises, and there’s been a lot of that this year. In the past quarter, we’ve had more what we call buybacks, in other words, physical reselling of metals back to the dealer from holders of that than we have in a typical multi-year period of time. And we imagine that people have different life situations.

Some people are paying half to pay taxes. Some people have a property closing. They’ve got to get money in their bank account so they can show it to get ready for a transaction, that sort of thing.

All kinds of different reasons. But the point is, it’s a physical task because they’ve got to package up and ship the metal back into us. We have to inspect it, validate it, and then pay them out.

The whole thing has a timeliness of a few weeks to get it done. And that’s very different from what we’ve all become accustomed to, that instant gratification of electronic transactions. And yet, people are absolutely seeking the shelter of being able to store their nest egg outside the banking system, for one, and not in the dollar or fiat currency that’s subject to value destruction through the forces of inflation as a second goal.

And it seems that your brainchild, GlintPay, is a solution that helps to address some of that need, that people can hold their value outside the system in physical gold. And yet, they can transact instantly when needed and as convenient. And it’s all done very privately.

So I’m excited. Andy Sheckman, the CEO of Miles Franklin Precious Metals, for whom I’m a bonded and professional bullion dealer, introduced me to your company. And now we have signed on as an affiliate.

So we’re grateful that people who do take advantage of your services will also be supporting our channel. But I am personally excited about this, and my wife was eager to get on board as well. So we want to help.

If you can help, I’ll sit in the chair on behalf of all of our viewers and subscribers, try to ask the questions that I had and that I’ve always had, and the ones that have been posed to me for years now. I’ve been getting questioned by viewers and subscribers and our clients saying, I’ve heard that there’s this way that you can have a card and you can use it like a debit card, but you still have your money sitting in gold and out of the bank, etc. Yes.

Yes, you can. So you founded GlintPay, and I’d love to hear your story about why you did that, because I know what our clients have been asking, but I’m curious about what made, what inspired you to start GlintPay? Well, thank you, Dunagan. And yeah, it’s great that Andy introduced us.

I love Andy Sheckman. He’s a great guy. But yeah, my story, I mean, first of all, for someone who’s disrupting the financial industry, I’m not from financial services at all.

So I qualified as an architect many moons ago. I worked briefly as an architect. And I got involved in virtual reality, which is a natural progression from architecture back in the first time it was cool in the early nineties.

And my business that I set up, we pivoted into web and e-commerce. And so my company was providing a lot of the e-commerce solutions for some of the high street retailers. And that’s the world I was in, right? So I came from a place of being able to look, always looking for problems, sorry, not looking for problems, but seeing problems and looking for solutions.

And that was where my mind was trained. And of course it was this emerging digital ecosystem that was very exciting. And I was constantly thinking, how do we see things differently with this new world that we live in? How can we think, do things better? And that’s the mental place that I was in, in 2008.

I’m sure you remember 2008 financial crisis. Yeah. In fact, I remember being laid off as part of that and having to relocate across the country in order to find employment.

It was a very difficult time for many people. Some people lost their homes. It was a very challenging time globally as well.

Yeah. And some banks were going bust, people queuing up to get their money out. It was a lot of concern.

I think, you know, it actually, it doesn’t feel like, it feels like yesterday to me, but to a lot of people that if they’re maybe 35, 36 years old, maybe it’s not even on their radar. But of course, what you and I will know, and a lot of your viewers will know is that we literally came hours away from a complete and utter breakdown in the financial payment system. And, you know, it needed, you know, central bank governors, et cetera, to get together and basically, you know, sort out the banks immediately telling which banks to buy, which banks and all of that.

I mean, it was, it was pretty horrendous. Just came hours, if you could call it minutes away. And I think for me, that was the first time done again, that I realized that a bank is not a risk-free deposit of funds.

It’s by design, you put your money in the bank and there is no money in the bank. Well, very little. Certainly, you know, it’s lent out and they lend out maybe five times as much money as they have.

In fact, your money isn’t lent out to people. Your money goes into the bank. Of course, they have to keep so many reserves and they create loans out of nothing, out of thin air, on the keyboard.

Ex nihilo is the Latin. Someone’s made a documentary on that. So that was the first time I realized that the kind of banks were very different to what I thought they were.

You know, I think there’s the phrase, oh, you need to bank that. You know, let’s bank your profits. And we only put them at risk, you know.

Anyway, they serve a useful purpose in the economy and I’m not knocking them, but it was a big realization for me. And I thought, there’s got to be surely a way to save my hard-earned money, where it’s not put at risk. Why, where can I do that? And then of course, you start thinking about other things relating to this.

And of course, starting to wonder why my purchasing power of my money is decreasing over time in ways that are completely out of my control. And it took me a little while to learn about that and to work out that that’s because mainly because the central banks print money. And since 1971, as you’ve probably talked about this before, when we came off the gold standard with Nixon, since then money’s been able to be printed as much of it as possible.

And again, as you probably know, I think it’s about 20%, maybe more since just during COVID was printed of all US dollars in existence. And of course, that leads to inflation. And it’s an inconvenient truth that nobody in power really wants to talk about, because of course, it’s very convenient for politicians, because they can promise things to the electorate that they can’t afford, but they know that they can print the money to pay for them.

But at the expense of what? The biggest tax that we all have, it’s the most unjust tax as well. Not only is inflation the unknown unjust tax, but then of course, capital gains, taxing you just for maintaining your purchasing power by putting your money into a currency such as gold. So anyway, I’ve just kind of thought about this for a second and realized that gold had been, well, gold’s been money for thousands of years.

It’s the oldest form of money. It’s created when two neutron stars collide, which is amazing as well. And therefore its nature cannot be corrupted, because it’s not created by human beings.

For me, anything that’s created by human beings is subject to corruption. It will eventually be corrupted. And even with the best of intentions, because people change it, let’s change it.

I think this is better if we do this. And before long, it’s not serving its original purpose, aka the dollar. And so I thought, well, why don’t we just enable gold as money again? And why wait for central banks to do this? Why do we have to wait for politicians to do it? Who’s kind of like, this is not my problem.

Let’s just kick that ball down the pitch. Let’s somebody else deal with that. Well, let’s not rely on our politicians.

Let’s not rely on our central banks. Let’s create our own personal gold standard. And that’s why I thought, well, I can probably work that out.

And that’s the kind of delusion, self-belief of an entrepreneur. And I went off to create Glint. And I wanted it to be able to participate in real time electronic payments.

And that’s what we’ve done. And we’re the first company in the world to allow physical gold that’s in a vault, physical, that you own. It’s not unallocated, it’s allocated gold.

And you can own any amount of it from one cent to millions of dollars. And that gold can be spent with the Glint MasterCard. And with this little piece of plastic, and with your Apple Pay and Google Pay, et cetera, I can pay with my gold anywhere in the world where MasterCard is accepted.

So it’s taken a long time. It took a long time to build, cost tens of millions of pounds and dollars to build. But I’m very pleased to say we’ve now got hundreds of thousands of clients and tons of gold on our platform.

And I’m just really happy that people generally love it. And it feels for me like a vocation done again, because to be honest, I’d had an easier life if I’d just gone and worked for Google, Facebook, OpenAI or someone like that. But once I saw this, when I saw it, when the veil was taken across my face, it was revealed, it took the red pill, whatever it is, people say, I couldn’t not go to my grave and not at least have a go.

But I’m really pleased to say we’re doing this. It’s live in the UK and the US. Actually, people can open accounts anywhere, most places in the world if they’re not sanctioned or on our blacklist.

But the card is available to clients of ours in the US and the UK. And yeah, we can talk about that in a bit more detail. Yeah, well, our viewers are keen on storing their value in something that preserves their purchasing power and is not subject to the whims of government and central bank destruction of the currency inflation.

So that’s number one. And number two, they’re keen on not, it’s too late to unknow the truth that your money, nothing in the bank belongs to you. And the fact that any deposit you put in there is no longer there anyway.

Yeah. So those are two key things is reducing vulnerability to the banking system, systemic integrity and liquidity of the banking system and solvency of the banking system. And secondly, destruction of currency.

So the protecting your purchasing power, and if I understand correctly, and this is the same even with when people own physical precious metals that want to sell back to a dealer. In most cases, it involves using the banking system for the transaction just at the moment of the transaction. But the store of value is always outside the banking system, but the transaction occurs with the use of the banking system.

Now about the storage, can you clarify for people if they do open up a glint account where exactly their gold is stored? You mentioned allocated. Can you explain more about that? Yeah, sure. So your gold that you’re buying is real physical gold that’s in a Brinks vault.

So Brinks are one of the biggest custodians of precious metals in the world. And we’ve contracted with them many years ago. We’ve had a long, long relationship with them, very good one.

And that gold is physical gold and it’s, you’re buying a share in one of those big gold bullion bars, those investment grade gold bullion bars. And so it is your gold. It is not somebody else’s.

There’s no share as in an ETF or token as in a cryptocurrency that sits between you and your ownership of your gold grams. But you’re buying gold grams that are a part of this gold bar. And once that gold bar is owned by all of our clients, that whole gold bar is glint client gold.

And that sits in its own cage in this vault in Brinks. And it’s insured by Lloyd’s of London, who are one of the biggest insurers of precious metals in the world as well. And that vault is currently in Switzerland, in Zurich.

We chose that because we felt it had a long history of neutrality and a big love affair with gold. But also we’re starting to look at where we’ve been working with Brinks to open up, start using the vault in Salt Lake City as well. But at the moment, it’s in a very secure vault insured by Lloyd’s of London.

It’s real metal. And if you have enough of it, you can also have it delivered. And I just want to put it on the record.

I believe everybody should hold some gold close to them in their possession. And I think that’s very, very important for everybody. And of course, we work with Andy Schekman on that as well.

If you want your gold delivered, in fact, if you’ve got enough of it, then Andy can deliver physical gold bars to you in smaller denominations. We simply send the value of the gold to Andy, who will deliver you a smaller gold bar. But obviously, if you’ve got a big James Bond gold bar, you can have that delivered too.

But I think what Glint is offering is something different. It’s complementary to physical gold bars on your ownership. It means that you don’t have to worry about the security because it’s dealt with by Brinks and it’s insured by Lloyd’s of London.

It also means, though, with our technology, we’re able to have unprecedented liquidity with that. Effectively, as I said before, giving you your own personal gold standard. And for anybody out there who’s what I call a sound money advocate, like I am, then surely, we’re trying our best here at Glint to deliver a solution for sound money.

And it’s just fascinating as well. Maybe we talk about it at another time. But even US states now are looking to use their constitutional rights to be able to stand up transactional gold as legal tender.

But yeah, have I explained everything about the gold bullion that’s in the vault, do you think, to your satisfaction? I think so. Yeah. And one of the questions is that just to clarify for people, I think this is one of the exciting attractions from my wife and myself is that anytime that you’ve had savings, like a savings account in the bank, for example, there’s always two big detractions that once we’ve become educated and one besides the fact that we have exposure to the risk of the banking system is that the savings that we thought we had deposited there keep losing value every year to the tune of, well, officially, they’re claiming 2% to 3% per year.

But according to John Williams of shadowstats.com, it’s more like 8% to 12% to 14% per year. And it depends on the individual what you’re buying, but medical costs and education and so on. The point is you think you’ve got this savings, but it keeps draining down.

The government has drilled a hole in the back of the account and is draining out the back. So even though the numbers are staying the same, the purchasing power isn’t. Whereas with a gold savings account and essentially a physical gold savings account behind your glint pay card, your value, your purchasing power could actually go up and up as more and more people in the world wake up to the importance of owning real things rather than being dragged along.

And unfortunately, I’m afraid that more people are going to go the other way first. We’ve been hearing so much about new forms of payment that the government would love to have more control, more control over your life, more supervision of your life, et cetera, et cetera. And more control over your spending and more control over the quote unquote value of your currency.

Whereas this is your nest egg in a physical gold and it maintains its value so that the deposit you make today could be worth most likely the same in the future or quite possibly more rather than less in real terms, not just in silly nominal terms. Yeah. I mean, you know, obviously the price of gold goes up and down as I say, as the value of your dollars goes up and down and generally down.

And, you know, cause gold is the constant. I kind of, this is the way I look at it. Gold isn’t changing.

There’s nothing, you know, gold hasn’t got a better share price. Suddenly it’s not like more productive in any way. You know, it isn’t generating more than it used to a thousand years ago or yesterday.

It is just the constant. And it’s the value of our fiat currency is going up and down and generally down. But of course you do have to recognize that the price of gold can go down.

It might be sod’s law that when you want to spend it, it is lower than what you thought it would be. But over time it is going up. And then just to put that into perspective, in just before 1970, when I was born, you know, I think it cost 17,000 grams of gold to buy a house in the U S average house.

And today, um, uh, and it costs 17 or $17,000. So 17,000 grams or $17,000. I think these numbers are right, but something like this.

And, um, today that $17,000 doesn’t even give me the down payment, does it on the house? Not even close, but the 17,000 grams of gold buys you three houses. I mean, that’s the houses haven’t, you know, people look at how the house prices have gone up so much, you know, it’s like, hang on the houses aren’t any bigger on the inside than they used to be, uh, than they are on the outside, for instance, you know, then they haven’t suddenly got like Jetson style jets on that can make, move your house around and fly it through the air. It’s no better than it was generally than it was back in 1970.

It’s not gone up in price that, that much because of any new features it’s gone up. It’s gone up in price because the people are demanding more of this money that’s becoming worthless over time. But, um, yeah, one of the things I, I didn’t answer was about allocated.

And I think that’s important, you know, so unallocated gold, um, which is offered by people like the Perth mint, which is a, which is the Australian government’s mint. They offer a unallocated gold product. And that means that you can buy gold.

But the problem is, is that gold can be when it’s unallocated more often than not, it is, it can be lent out in the same way, the old fashioned way of banking, you put your money in the bank and that money could be lent out. Well, it kind of, to me is a bit of an oxymoron to say gold and allocate unallocated in the same sentence, because as you’ve discussed, gold is supposed to be that, you know, that safe haven. Well, how can it be a safe haven if it’s been possibly put at risk? Um, and that’s unallocated gold allocated means that this is legally yours and no one else can lend it out or borrow it or anything like that.

So I think that’s important. And it’s sometimes very difficult to get to the bottom of whether or not a product is using unallocated gold. And I have lots of friends in the cryptocurrency world, et cetera, and stuff.

But sometimes, you know, you want to look at what are some of these stable coins that are coming out where there’s this token that’s supposed to be backed by gold and stuff. And you drill down into it and you try and look in their terms, because eventually you find out it’s an unallocated gold product. Well, that for me, isn’t the right kind of solution for, for the, for the need we’re trying to fix, which is gold that is legally yours.

That’s in a vault insured by lawyers of London is that it’s boring. It’s the dark and that’s the best place for it. And I wanted to clarify also that what you mentioned earlier, that there are, there’s a distinction here that there’s a place in everyone’s life and perhaps a significant place for physical gold.

That’s in your own possession. There’s where there’s no system dependence. There’s no counterparty risk between you and your gold.

That’s absolutely a core foundational part of people’s financial fortress is having a real asset that’s in their possession. That’s unquestionable of unquestionable and unchanging value. Then this is a separate layer.

This is the layer where you meet, want to transact. You want to transact on a daily, weekly, monthly basis. You want to do it privately.

You don’t want to be flashing your shiny gold in everybody’s face as you do that, but you want to do it conveniently, instantaneously, portably at a distance without a, without a time lag, without having to ship things around and insured shipping and all that sort of thing. That’s a different need that that’s addressing a different part of your life. This is the transactional part of your life.

And in that, if you insist on, I will not accept destruction of my balance value by inflation, and I will not accept a systemic banking risk as meaning that I will suddenly lose all future access to transact because both of those are real risks when we’re inside the banking system. And you say, no, I don’t accept those risks. I want to be outside that.

Then you’re back into the stable value of physical gold. It’s not in this case, directly held in your, in your direct possession, but it is, it does belong to you in the sense of being, it can’t be lent out and it will preserve your purchasing power and you can transact against it. Can you talk to us about that, how this, how this actually works? When you want to use, when you want to use your, your glint pay card, how, what actually happens when you do that and how does that affect your amount of gold that’s allocated to you, et cetera? Sure.

Do you mind if I just share my, my, my app screen? Please feel free. Okay. So I’m going to share this.

So this is the glint app. This is, it’s on an iPhone. I’ve got mine, mine here.

This is a little expense account and you can see here it’s multi-currency. I’m actually using, this is not the US version because we have a version that’s outside the US and a version that’s in the US. In the US, it would look very, very similar.

The only difference is, is you’d have gold, silver, which we introduced just before Christmas, which we were really happy about. And, and not just gold and silver, but also US dollars. Outside of the US, we also have pounds and euros and we’re hoping to bring more fiat currency wallets to it in the future.

But at the moment, gold, silver, and US dollars is what US people would see. And if you’re outside the US, this is what you would see. And it’s very easy just to go to buy gold.

I mean, we believe in glint that everyone should have an equal opportunity to prosper. We don’t believe that you necessarily will, but we should have a level playing field. And therefore it’s always been important for us to say, if I’m going to use my USD wallet account, that I can buy as little as one cent’s worth of gold.

And if you’ve got millions of dollars, fine, that’s where we want to end up. A lot of us, well, that’s great. If you’ve got that, you can buy more, but anyone can buy gold with glint because you can buy as little as one cent’s worth.

And let’s just buy, I don’t know, let’s buy $50 worth of gold. You can see the current rate down the bottom, which is the real time rates. That’s cheap.

We’ve got a kind of a hose pipe of the fees coming from the international market. There’s one international market price for gold and that’s displaying in there. And you get it, including now I’m the CEO of the company and like other staff in the company, we get to have zero fees, but you’ll have to pay a little bit for the benefit of using our systems.

We try to, well, we do use the tech, you know, the scalability and the technology and the efficiency of it to be able to offer really low pricing. So at the moment it’s only 0.5% to be able to buy this gold. And, you know, I think that’s going to be going up by the way, in a couple of months, it’s a little bit too cheap.

And we’ll be making that a note, we’ll be giving people plenty of notice, but it still would be very efficient to be able to buy gold no matter what happens. I can review this. I can look at that and confirm, boom, I’ve just done it.

I just bought some gold as quickly as that, just the click of a button. And I bought that with gold that I’d already transferred into my account. You can do that with an ACH or a bank transfer or a wire transfer.

ACHs are free. I think wire transfers are $25. The fees are all available on our website.

We try to, you know, don’t try to hide anything there. You can also pay with a debit card. Again, that’s very convenient.

The first time you open your Glint account and you want to buy some gold, you can use your debit or credit card super quick, but it does come with fees that, you know, get put on us by the banking system, et cetera. We pass that on to you. So it costs 3% if you’re going to fund your account and use it to buy gold if that’s what you’re doing with a debit or credit card.

But later on, especially if you want to do bigger amounts, I suggest you consider an ACH or a wire transfer. So now, of course, you’ve got some gold in your account. There it is.

There’s a map of where the gold is in Switzerland. And you can also order a Glint card. Now, normally there’s a $10 delivery fee on that.

I think my team have given you a code. Yeah. Let me put it in there.

Yeah. So folks, if you are interested in signing up for a Glint Pay account so that you can have physical gold and be able to transact instantaneously against that without loss of purchasing power or banking risk, the code Liberty, L-I-B-E-R-T-Y, Liberty will get you the way of the fee. You’ll get a free physical mastercard, that gold Glint Pay debit card.

Yeah. And make sure you type that Liberty into what’s good. I think during the onboarding process, it’s one of the first screens you’ll be asked, have you got a referral code or it might say promo code? I can’t quite remember, but make sure you type that in in order for you to get that free card and save yourself $10.

But once you’ve got that card and you can see Donegan that there’s little G wallet here, this wallet icon in the right-hand side there under the card. And if I click that, you can see that my card can be linked to any of my Glint wallets. And I think that’s important that it’s not just a gold payment system that we give people the choice of being able to use US dollars as well, should they not want to spend their gold.

But most of the time, by default, it’s linked to gold and most of the time mine’s linked to gold as well. And so when I want to spend that, I take my Glint card and I swipe in anywhere where MasterCard’s accepted. So this could be in, of course, Kansas, Texas, New York, California, but Mumbai or Japan or London, of course, anywhere MasterCard’s accepted.

Don’t have to worry about whether Glint’s accepted or not. The merchant doesn’t even know that I’m paying with gold, just knows that’s a MasterCard, we can accept that. And when it’s swiped, then a request for authorization goes up through to MasterCard and Glint is a principal MasterCard member.

And we’re integrated, our systems are fully integrated with the MasterCard system. And that authorization request comes to us. And with our system, if I go into the gold wallet, our system will go, okay, how much gold does Jason have? Well, he has 61.7 grams of gold.

And we say, okay, what’s the price of gold in this particular millisecond? Well, it’s $2,738.70. Actually, it’s just changed at $0.91, but our system does it so quickly, it’s before it changes. It does everything, all I’m talking, all this process I’m talking about has to happen within 200 milliseconds. So we see whether Jason’s got enough money for this transaction.

So here we have an Uber there for would have cost in pounds, seven pounds and 92 pence, because I’m in London at the moment. But our system knows that that was 0.1108 grams of gold. And what we do, our system does is authorizes the transaction.

And it means that I’m allowed to get on with my life with the merchant. But in the background, then what happens is that just that amount of gold, that tiny amount, that 0.1108 grams of gold is sold, either to one of our other clients who’s buying gold at the same time, or off into the market through our liquidity providers. And then the proceeds of that transaction, then go to the merchant.

It’s as simple as that. It sounds very simple. It’s taken a long time to build, long time to get all the regulations and the permissions from MasterCard and all of that, but we’ve made it easy.

So one of the key things I just learned is that when you’re doing a transaction using your Glint Pay MasterCard, you can choose whether you want it to come out of your gold account or out of a currency wallet that’s associated with your card. Yeah, well, look, you have to make sure that’s set before you use it. I mean, if I left my phone at home and I went out, I could use my card and it would use automatically the last account wallet that it had been linked to, mine therefore always linked to gold.

But yes, I can if I want to change it. And just to be clear, the dollar account will only work if there’s dollars in it and vice versa, if there’s gold in it. So if you were to transfer funds into Glint via your ACH or wire transfer or credit or debit card, you could have money in your USD account, but still not have any gold.

You first got to go and buy the gold. That’s a common mistake that people make. They say, I link my card to my gold account.

I try to use my card and it got declined. That’s because yes, there was no gold in your gold account. You hadn’t quite bought it yet.

So make sure you do buy the gold. We decided that the maker would give people the choice of when they buy the gold. Yeah, it puts people back in the driver’s seat.

I love that aspect of it because with the phrase you’ve used a couple of times about getting on your own gold standard, it allows people to be in the driver’s seat of deciding whether they want to be spending their gold or whether they want to be spending out of their currency account. Yeah, sure. And of course, that’s not, by the way, that’s not the only way you can transfer value of gold.

It’s not available in the US quite yet, but you see in the bottom right hand corner of this app, there’s the word send. You can send this gold to anybody who’s got a Glint account already. I can say Happy New Year and preview that, send it, done.

As quickly as sending the text, I’ve just sent some gold to somebody else who’s got a Glint account. Now that is available everywhere in the world except in the US, but we’re looking to, you know, we want to make sure that all the regulations are complied with and everything in the US before we bring it to the US. And of course, I touched upon it earlier on, maybe we talk about it another time, but some of the work that’s happening at the US state level as well, that peer to peer transfer, as we talked about, can be used as part of those types of initiatives if we’re working with those US states.

You can also set up a plan to buy gold monthly. So it’s called dollar cost averaging. So instead of like saying, should I buy gold now? Like it’s awfully high.

Look, it’s at this price now, $2,737 an ounce. What happens if it goes down? Oh, but what happens if it goes up? We don’t know. Well, you can average into the price, into the value of gold that you want to buy just by setting up one of these plans.

It’s currently only enabled for debit and credit card at the moment, but in a couple of months time, I think, maybe a bit longer than that in the US, but in the UK in a couple of months time, you’ll be able to set it up with a bank transfer as well, which will pull money from your bank account and buy the gold automatically. And at the meantime, it’s using a debit or credit card, but it means I can save monthly without thinking about it. Once I’ve set this up, of course you can cancel at any time, but that means that my gold is accumulating in my account every month.

One of the key elements that many of our clients and subscribers and viewers are concerned about, of course, is personal privacy. That’s one of the attractions of transacting in gold is privacy. But can you help us understand as this for the actual transactions depends on the banking system and the MasterCard system, what sort of reporting to government authorities or other authorities is necessary as part of this system’s working? Well, we’re working with the bank.

This card itself, if you turn it on the back, if you look into the small print down here, it actually says, let me stop sharing my screen. It actually says on the back here that this card is issued on behalf of GlintPay by Sutton Bank. So that’s one of the biggest processors and issuers of payment cards in the United States.

They work with some of these really big non-financial institutions. I think they do DoorDash, they do a bunch of other card issuing, and they’re a bank. And so we have to comply with that bank.

We’re not allowed to onboard anybody who’s subject to US sanctions. There’s a bunch of different rules and things that you’d expect from a bank. So whatever the kind of rules you have with a bank when it comes to your card, expect those from Glint as well in regards to the card.

But when you buy gold, that is a private relationship between you and Glint. And that gold is in your account. That’s private information.

We don’t share how much gold is in the account with anybody else, including the bank. If you choose to buy it and sell it, that’s what’s going on between you and us. When it comes to the card, when you’re using that, that’s where the regulations with the bank sits in and our relationship with them begins and ends.

So for instance, if there’s a transaction that you, say your card gets stolen or the details get stolen, and that information is then used to buy some products that you haven’t authorized, then that’s a dispute that we will work with. We have systems and processes in place that do this automatically where systems kick in to investigate that. And you should know that the liability for something like that sits with the merchant, not with you.

But Glint on behalf of the bank have to become comfortable that we’ve done the reports and stuff, so you can get what’s called the charge back and the money back into your account. We have no reporting as such as beyond what you’d expect from any gold bullion dealer on the gold side and from the payment side, any bank that you might have. How long does it take? I know because I’ve just been through this on my part, it took me about five minutes to get set up.

Once I did all the reading of the website and downloading the app, that sort of thing, it was quite expeditious to get set up. How long does it take then to get a physical card if you request one? And remember, if you are going to do this, guys, use the word liberty, you’ll get your free card. Go ahead.

Yeah. So 80% of everybody who registers gets authorized, I think, nearly automatically because we’re doing, as I just said, we have to comply with regulations. So we’re doing KYC, what’s called know your customer analysis through various databases that we have access to and the information that you’ve given us.

So that’s why, by the way, we need to know the information that you’re giving us. You can’t just give you anonymous account, okay? Because we don’t want to be allowing people who are working for terrorist cells to be buying gold and using their Glint cards in America, do we? So we need to know who you are. And the second thing is that we don’t want your gold being stolen, your account being taken over by somebody else who happens to just know your name.

So we need to know you. And it’s the same thing if you’re opening a bank account or a credit card, debit card account, they’d want to know lots of information, including your social security number. Now, all this information is held very securely in our systems and we have cyber security audits and stuff like that.

But we need to know that to know who you are to make sure that we’re really looking after your gold and we know who that goal is owned by. Sorry, what was the question again? How long does it take? Typical timeline to get started if people are interested in getting started. So 80% of people will get authorized straight away.

It sounds like you did. 20% of you, on average, will have to supply some additional information. So be like, okay, we’re not quite sure.

We are confident we know who you are. So please, can you provide a scan of a photo ID or a scan of a utility bill or something like that that proves your address? Good. And this is the same sort of KYC, know your client and anti-money laundering, AML requirements that every bullion dealer is subject to as well.

So we’re grateful for finding out about this because I can’t tell you how many times I’ve been asked by clients, how can I get a hold of a convenient way to transact against my precious metals holdings? And we haven’t had a good solution to offer them. And this is one that Miles Franklin has become an affiliate with and Liberty and Finance has. So folks, you’ll find a link in the description of this video.

If you’re interested in finding out more, going to glintpay.com website. And if you do decide to open up a GlintPay account so that you can have a outside the bank nest egg that is not subject to inflationary destruction and is not subject as an asset on your portfolio to risk of the banking system and still be able to then transact instantaneously wherever you are, make sure you use the code Liberty, L-I-B-E-R-T-Y, Liberty, when you’re opening up your account so that you can get your free $10 off your card. And that way you’ll be able to get off and running that much easier.

We’re so grateful Jason for your for your first visit here. I anticipate based on your facility with describing so many aspects of our financial world that there’ll be a lot of fruit to be had in having talking with you about many different aspects of our financial lives. But this is a very important one is how people can instantly get on their own private gold standard so that their transactional money isn’t that they’re holding in banks.

It doesn’t have to be depreciating as they watch it drain the value out and, but instead be held in physical gold. It’s fascinating. And we’re grateful.

Any final thoughts or things that we didn’t ask that we should have? I think one quick one you can, of course, if you just want to sell your gold and withdraw it, you can do. That’s a very easy to do. It’s quickly as easy as buying.

And if you want to get going straight to where you don’t even have to go to the website, just go to your favorite app store, your, you know, Apple App Store or your Google Play, Apple Store and just down typing GlintPay, the app will come up. You should see some screens that look like this, say made by GlintPay. Download the app and get registered.

And of course, type in Liberty and get going. So I can’t, yeah, I can’t wait to welcome you onto Glint and join the hundreds of thousands of other people who’ve registered for our account. And it was also intriguing that you mentioned that you have an arrangement with Andy Sheckman and Miles Franklin Precious Metals.

So if people have gold in their GlintPay account and they want to have it take some delivery of some physical gold, they can call up their Miles Franklin broker, which would include myself and my team, and go ahead and use their pay through their GlintPay arrangement with Glint and obtain physical precious metals directly from Miles Franklin. That’s right. That’s right.

Thank you, Jason, for joining us on Liberty and Finance. Thank you, Denigan. This is Kaiser Johnson with Liberty and Finance, and these are the Miles Franklin weekly specials for January 13th through January 20th, 2025, while supplies last.

This week, we feature the one ounce Canadian Silver Falcon coin at just $2.75 over spot, the lowest price we’ve had on any sovereign coin in years. We also have 90% Constitutional Silver or Junk Silver at just $1.69 over spot per ounce. We also have the one tenth ounce UK Gold Britannia coin at just $29.99 over melt.

And finally, one ounce Gold Canadian Maples are just $59 over spot. Again, one of the lowest prices we’ve had on gold sovereign coins in years. To order our specials or any of the many other options we have available, call us at 1-888-81-LIBERTY.

That’s 1-888-815-4237. We’re available after hours and on weekends, and we look forward to speaking with you.