Right now, these gold ATMs are only in Germany, Italy, Spain and Abu Dhabi. In a few places here, soon, but just you wait. With Obama’s recovery plan in place I can see every WalMart in the country having at least one, right next to cash for coins machines.
Times are changing. We’re keeping pace and going a step ahead. GOLD to go® has developed the world’s first gold vending machine.
The GOLD to go® vending machine is an unmanned point of sale. It offers an extraordinary opportunity to purchase gold bars and coins of assured quality, backed by the security of a Swabian Fort Knox® and with the ease-of-use of a vending machine. Prices are updated in real-time. The GOLD to go® gold vending machine is largely burglar-proof and tamper-resistant. It has an excellent user guidance, which makes it very easy to handle.
In the standard version, our GOLD to go® ATM’s are equipped with the following products (alternative product portfolio is possible, depending on the requirements of the respective location):
* Gold Bars 1 gram, 5 gram, 10 gram and 1 ounce
* Krugerrand 1/10 ounce, 1/4 ounce and 1 ounce
* Kangaroo 1/10 ounce ($15) and 1 ounce ($100)
* Maple Leaf 1/10 ounce ($5)
Gold Bricks
Anyone wanna get a pool going on how soon some idiot will grab one of these with a pickup truck?
What a scam.
Gold from Congo bought cheap, sold with extreme profit.!!!
I would say a scam, shows just how fcuked the world is spinning.
This was reported on this site just 5 months ago
http://dvorak.org/blog/2010/05/14/youre-probably-wealthy-if-you-buy-your-gold-from-a-vending-machine/
Not allowed in the UK – Owning bullion is unlawful.
One point
Crooks may well be watching for the delivery van which restocks the machines 🙂
Barbershop IV
They have the concept wrong. It should be collecting gold to dish out cheetos and the like.
Yes if gold is so inherently stable and valuable why are they willing to trade “worthless” fiat paper currency for it?
#9–tcc3==see #4.
One gets rich today by buying cheap and selling high. Today that is done by manufacturing bubbles. Get in at the base, sell near the top.
I’m thinking the model is loosely based on Donkey Kong.
Alfie, wrong in everything you say, think, post==you say: “A corporation is a group of people combined into or acting as one body.” /// No, that is an association or a conspiracy. The whole point of a corporation and its insulation from legal responsibility is that the individuals employed/invested/managing the corporation are NOT acting as one. Given the Holy Trinity, this concept should not be foreign to you.
“Loons for Obama” does sound evil to me. Lets make sure their corporate papers are in order?
“Those that hire us while producing goods and services, are not.” /// STFU slave!
The Japanese have used school girl panties, we have corn syrup soda for $1.75 per 20oz and the Saudi’s have gold coins. Priorities.
Every time Alfred posts something with ‘loon’ in it he makes me laugh. Keep it up there champ.
#9, They take the profit, and use the worthless paper to buy, guess what!
I had to stop accumulating it when it hit $1100. But I have quite a bit of the lovely stuff in my safes… I loved getting it for $650 in hindsight, but even then, it seemed awfully expensive… So there you go.
Meh, still not as good at the Japanese Dirty Panty vending:
http://bit.ly/btvkPe
finally, news from over a month ago is on this blog
Since no one else has said anything, I know I must be missing something obvious. I had a quick look at the website and it didn’t clear the fog.
Although they claim the price will fluctuate with the market, above they seem to be selling 1 ounce of gold (Oz Kangaroo)for $100 and the Maple Leaf for half that!
If that isn’t confusing me enough, the website explains they have money laundering protection. Your credit cards are limited in how much they can buy but you can, apparently, shovel as much cash into the machine as you wish – but only 3 times a day. Oh, sure, if you go over a thousand Euros they insist you let them scan that fake ID you bought in Pakistan.
#5 The DON – Used to be illegal in the USA, too. I’m guessing they’ll try to do it again. Look for riots when people have to sell the govt their $1500 an ounce gold for $750…
Your California Welfare credit card will work in them also!!!!
Yahooie!
And the gold bubble continues to grow…
#4 I think that the Congo nationalized vertically all mineral extraction. Sold cheap? I got my doubts.
Gold is not cheap. I’d say it’s holding value very well while the value of currency is falling fast.
If we ever start to actually crawl out of this depression the Fed says it will have to squeeze the money supply or we are going to have major inflation. Jimmy Carter gave us 14% inflation. It is reasonable to guess due to the pure volume of money dumped in the stimulus program that this would be at least several times that bad because the amount of money dumped was several times that large.
That you will get inflation after vastly increasing the money supply is not rocket science. The reason it hasn’t hit yet is that various banks and businesses are setting on an ocean of money they are afraid to spend. If inflation starts they will be afraid to hold on to it because it will become less valuable with each passing day so everybody will be rushing to turn cash into something that will retain value.
deowll–do you find it as amusing as I do the “box” that the Chinese have built for themselves? Currency manipulation, product dumping, import restrictions, etc all to the end that they are amassing market strength and currency that becomes more subject to a crash the longer they maintain the manipulations?
I do.
Shows the pro’s and con’s of every decision made/not made. Long term vs short term.
The contest will come to a head within our lifetimes. Who will be more hurt by huge currency devaluations? China who can’t make and sell cheap consumer goods to the West anymore, or the West that cannot buy them?
I’d like to see the IPCC climate model computers let loose on those equations. If they get the date plus/minus 3 months of the coming crash, then AGW should be “proven” as best it can?
Won’t happen. Just musing.
If this one succeeds, we have plans for vending machines for each of the known elements.
Next on the Agenda, Suicide Booths!
Sure. You can buy the gold. But can you sell it back, at a later time, when it’s more valuable? If something like that were possible, it would totally wreck governments’ inflationary spending. The ability to print up and spend, more currency than is taken in by taxes. Is dependent on everybody else’s savings and income, devaluating in direct proportion. If practically everyone had a means of halting their income and savings for become worth-less. Then governments couldn’t bleed the value of the new currency they make, from the current and past labors of their citizens. Deficit spending is a hidden tax, on your savings and income. Fixing one’s income to a stable commodity, like gold, kills the tax’s effectiveness. That’s why it became illegal to own gold in countries like the USA. These vending machines will only be allowed in the very wealthiest of neighborhoods. Just for the bragging rights and media hype. Oprah and Cheney will get to protect some of their millions from inflation.