London boss to start paying employees in gold to beat inflation, in new wages trial

[Still Waters]

The boss of a financial services firm in London is offering his employees the chance to get paid in gold as part of a new trial.

You'd think getting remunerated with big lumps of gold might be a bit impractical, or even a regression from the imaginary virtual numbers based system most of us use these days, but Cameron Parry, CEO of TallyMoney, reckons it makes no sense for him to continue paying his staff in pounds.

Parry – who employs more than 20 members of staff – is implementing the trial in the hope of helping his team during the difficult times we're living through at the moment.

https://www.ladbible.com/news/boss-paying-staff-gold-instead-pounds-20220514

https://www.cityam.com/exclusive-city-boss-puts-staff-on-gold-payroll-to-beat-inflation-it-did-not-make-sense-to-pay-them-in-pounds/

[+Manwon Lender]

35 minutes ago, Still Waters said:

The boss of a financial services firm in London is offering his employees the chance to get paid in gold as part of a new trial.

You'd think getting remunerated with big lumps of gold might be a bit impractical, or even a regression from the imaginary virtual numbers based system most of us use these days, but Cameron Parry, CEO of TallyMoney, reckons it makes no sense for him to continue paying his staff in pounds.

Parry – who employs more than 20 members of staff – is implementing the trial in the hope of helping his team during the difficult times we're living through at the moment.

https://www.ladbible.com/news/boss-paying-staff-gold-instead-pounds-20220514

https://www.cityam.com/exclusive-city-boss-puts-staff-on-gold-payroll-to-beat-inflation-it-did-not-make-sense-to-pay-them-in-pounds/

Getting paid in gold isn’t a bad way to depends on the market trends, but his employees could do very well if they have the ability to hold it for a while.

Interesting thread thanks.

[Cookie Monster]

39 minutes ago, Manwon Lender said:

Getting paid in gold isn’t a bad way to depends on the market trends, but his employees could do very well if they have the ability to hold it for a while.

Interesting thread thanks.

It is a very bad way because the price of gold isn`t fixed.

Employees scared at their money might loose 10% of its value over the year from inflation need to realise that gold can drop that much in value in a month.

And the price of gold is still very high following the 2008 banking crises, coronavirus pandemic, and Russian war. At some point its going to collapse down to where it should be solely determined by market forces.

I find it deeply worrying that a financial services firm would offer that. It suggests they themselves have large investments in gold and are trying to use their employees to prop it up rather than thinking about their actual best interests.

Edited Saturday at 12:56 PM by Cookie Monster