This CEO will now pay his employees in gold

This CEO will now pay his employees in gold

Cameron Parry, CEO of London-based financial services company TallyMoney, said gold is a “time-tested inflation hedge”





May 15, 2022 / 04:35 PM IST





TallyMoney CEO Cameron Parry. (Image credit: LinkedIn)



A London-based CEO will now pay his employees in gold to help them stay ahead of inflation, according to a report in local business newspaper City A.M.

Cameron Parry, who leads financial services company TallyMoney, told the newspaper that gold is a “time-tested inflation hedge”.

“At times like these, when conventional money is steadily losing its buying power, gold offers people the best chance of keeping ahead of inflation,” he added.

Parry said that pound’s spending power was declining at an “alarming pace”, while the value of gold had been climbing steadily this year.

“With the cost of living going from bad to worse, it didn’t make sense to continue offering pay hikes in pounds when its value is being eroded further with every passing day,” he told City A.M. “It was like putting a band-aid over an open wound.”

For now, Parry’s TallyMoney, which employs over 20 people, is only paying senior staff members in gold. But the company plans to extend the new pay scheme across the board.