I recently ordered a gold debit card from Goldmoney. The idea is that you own gold, but can sell gold grams to fund a fiat currency card (USD, EUR, GBP, etc). I imagined a scenario such as standing in line at Tienda Inglesa when the price of gold is $4,000/ounce and going up $10 every half hour, tapping instructions into my cell phone to fund the card, then spending the fiat moments later.

Alas, it’s not that fast. Currently takes about a day to transfer the funds (why?).

Why? Well, also why should a card from Canada be en route to Uruguay through Dubai?

Canada to Uruguay, via Dubai

  1. Chris Sumner
    Apr 06, 2017

    Excellent post. Perhaps you could call James Turk and ask him to explain on a online forum.

    Reply
    • Doug
      Apr 07, 2017

      From Goldmoney this morning: “In regards to the route, your card took, as we utilize ARAMEX, they always reroute their packages to their processing plant in Dubai prior to shipping out to the user’s address.”

      Reply