The best of both words.
Bitgold and Peter Schiff team up and give us GoldMoney.
https://www.goldmoney.com/
Basically you can now convert your dollars into physical gold
which is stored in a vault of your choosing (I like Hong Kong)
and you are issued a debit card (master card) against your physical
gold stored in the vault. It's converted to your local currency on the
fly when the transaction takes place.
You can redeem your physical gold on demand.
It will be shipped to you.
Purpose:
Credit or Currency Collapse occurs then your GoldMoney debit MasterCard
will be the only one working and worth anything.
If you have 100 grams of gold in the vault which is currently $4200
and deflation/inflation occurs such that your spending power has been
reduced to 25%, you still have 100 grams of gold in the vault now
worth $4200 x 4= $16,800.
More info
http://schiffgold.com/commentaries/goldmoney-acquires-schiffgold/
