Gold ATMs

[Jay]

http://uk.biz.yahoo.com/19052009/323...ng-demand.html

Wow, the Fed would throw a hissy if this was tried in the US!

[zoog]

Re: Gold ATMs

http://uk.biz.yahoo.com/19052009/323...ng-demand.html

Wow, the Fed would throw a hissy if this was tried in the US!

A one-gram (0.0353 ounce) piece of gold, the size of a child's little fingernail and about as thin, cost 31 euros ($42.25) -- a 30 percent premium to the spot market price .

They're not giving them away, are they.

[aaron]

Re: Gold ATMs

If you could get these set up in the United States, and I do not see why you couldn't, you would make a fortune! They will be here 6 months after they prove to be uber-profitable in Germany.

[Jay]

Re: Gold ATMs

The 30% premium is huge, and you could make a fortune, but I doubt the Fed would put up with anything that makes gold look more like money. And a gold ATM is one step toward delegitimizing the dollar. It's unlikely these make it to the US without a big fight.

[Raz]

Re: Gold ATMs

The 30% premium is huge, and you could make a fortune, but I doubt the Fed would put up with anything that makes gold look more like money. And a gold ATM is one step toward delegitimizing the dollar. It's unlikely these make it to the US without a big fight.

I agree that our "public serpents" will try to prevent this.
But how can they legally stop anyone from vending a legal substance?

As Eddie Murphy said in Trading Places: "Is there a lawyer in the house?"

[jimmygu3]

Re: Gold ATMs

If you could get these set up in the United States, and I do not see why you couldn't, you would make a fortune! They will be here 6 months after they prove to be uber-profitable in Germany.

Hmm, with every pawn shop I see screaming "WE BUY GOLD", as well as the Gold Kit TV commercials, it seems to me that J6P is selling gold. The wealthy who are buying can find safer and more sophisticated acquisition methods than a gold ATM.

Jimmy

[metalman]

Re: Gold ATMs

h

Hmm, with every pawn shop I see screaming "WE BUY GOLD", as well as the Gold Kit TV commercials, it seems to me that J6P is selling gold. The wealthy who are buying can find safer and more sophisticated acquisition methods than a gold ATM.

Jimmy

germans have savings.

[Jay]

Re: Gold ATMs

I agree that our "public serpents" will try to prevent this.
But how can they legally stop anyone from vending a legal substance?

As Eddie Murphy said in Trading Places: "Is there a lawyer in the house?"

Isn't the fiat dollar unconstitutional too? ;)

[Raz]

Re: Gold ATMs

Isn't the fiat dollar unconstitutional too? ;)

It is according to Article I, Section 8.

And to anyone with even a smitthering of interest in what the Founders actually meant, you know, right-wing nut cases like me who have actually read The Federalist Papers.

No less than Oliver Wendel Holmes said that "to coin money" clearly meant to strike of metallic coin, and that the entire monetary intention of the Founders was to prohibit paper money ("letters of credit") and establish the exclusive circulation of gold and silver coinage. James Madison said the same.

But to Leftist fools like Stephen Breyer we should look overseas for judicial precedent.

Wonder why these people don't look to Wiemar as a great exaple of paper Fiat?

[jiimbergin]

Gold Vending Machine

http://www.timesonline.co.uk/tol/mon...cle6521486.ece
Germans flock to gold bars vending machine at Frankfurt airport

Germany has devised the ultimate in credit crunch vending machines: Gold to Go.
After inserting your euros in the slot there is a familiar whirring noise as if the machine is readying itself to spit out a can of lemonade or a bar of chocolate. Instead there is a satisfying clunk as a prettily wrapped bar of the world's favourite precious metal thuds into the dispenser.
"It's better value than the bank," Romy Erhardt of TG-Gold-Super-Markt told The Times, "And it's very convenient — no waiting time — you just put in your cash and a minute later you are an investor in gold."
The prototype gold-dispenser has been installed in Frankfurt airport and today there was a queue of passengers mulling over whether to buy one gramme, 5 grammes or ten grammes of gold.

Gold for the masses!
jim

[zoog]

Re: Gold Vending Machine

as noted here back in May, fyi

[snakela]

Re: Gold ATMs

Hmm, with every pawn shop I see screaming "WE BUY GOLD", as well as the Gold Kit TV commercials, it seems to me that J6P is selling gold. The wealthy who are buying can find safer and more sophisticated acquisition methods than a gold ATM.

Jimmy

One way to get the few pennies of real value J6P has left to finance his lifestyle just a tid bit longer.

On the other hand, I've been hearing lots of commercials trying to sell J6P gold on the radio. Kitco copycats I believe.

[metalman]

Re: Gold ATMs

One way to get the few pennies of real value J6P has left to finance his lifestyle just a tid bit longer.

On the other hand, I've been hearing lots of commercials trying to sell J6P gold on the radio. Kitco copycats I believe.

actually, noticed all those 'cash 4 gold!' ads are gone... all over.

guess they sold all their gold!!!

what a fuuuuucking disgusting system.

[ocelotl]

Re: Gold ATMs

Found the company site, by the way, it was badly posted almost everywhere else...

http://www.gold-super-markt.de/?___s..._store=default