ATMs That Dispense Gold Bars Coming To America

tetrahedrassface writes "As the US economic woes continue unabated, a German company is bringing gold-bearing ATMs to Mainstreet America. The machines accept credit cards, and will dispense 1 gram, 5 gram, 10 gram and 1 ounce units, as well as various gold coins. The company hopes to install 35 bullion machines in the United States this year, and will hopefully have several hundred up and running by next year. The machines will be decorated like giant gold ingots and be over two meters tall. Physical gold has both pros and cons, but from a safety standpoint would it be fine to have a couple of ounces in your pocket while walking around the mall? The giant, gold-dispensing ATMs will monitor the market conditions for gold every 10 minutes in order to reflect spot price changes as they occur." We already covered similar machines installed in travel hubs across Germany.

Comments

Re:If we buy one with the magic chocolate ticket

[ElectricTurtle]

Concretes don't do anything for the kind of people who believe in interventionist economics and socialism. They're just like the people who believe gun control is an absolute necessity. The evolution of concealed carry laws since the 80s is particularly telling, in state after state the gun control lobby hit the same points about 'shoot outs in the streets' and 'think of the children!' Years later all the states which enacted shall-issue concealed carry have violent crime rates that are the same or lower than they had before, but what does the gun control lobby say to such facts when legislation comes up in the few states left that still deny carry? 'Shoot outs in the streets!' Yeah, because the way that didn't happen in the last THIRTY STATES shouldn't be taken as evidence that it won't happen in the next one.

You ask a gun control advocate why gun control doesn't bring down crime rates and their answer is always some variation on 'it's just not controlled *enough*!' Interventionist economists are the same way, it's always some variation of 'there isn't enough regulation in place to keep bad things from happening! If we regulate businesses more strictly then things will be more stable... ' except of course for the businesses forced to scale back or close because of the overhead costs of working around the new regulation, triggering a recession. Not to mention the negative effects on a market that is always paranoid about the not-so-invisible hand of government changing the rules midway through some kind of investment such that it negates the invested value by intervention.