It looks about as sensitive as marketing sunglasses on Noah's ark. While economies round the world feel the waters of recession rising and consumers rein in spending, Mastercard is issuing a diamond-encrusted credit card laced with gold leaf. When so many are feeling the pinch, do we really need an extra opportunity for the very rich to display conspicuous consumption?

There is no doubt that the "Royale" card is about status and prestige. At $50,000 it has a credit limit $20,000 higher than Mastercard's existing platinum cards. A limited edition of 1,000 will be issued in Kazakhstan where it launches later this month, though that arrangement is slightly less exclusive than the invitation-only approach in Dubai where a similarly sparkling card was introduced in March.