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