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Gold Vending Machines

December 17th, 2010 No comments

Gold barA company just installed a gold vending machine in a mall in Boca Raton, the first of it’s kind in the nation.  It will hold up to $150,000 worth of gold and you decide the amount you would like.  It’s going to be guarded by armed guards to begin with, so, go jobs creation!

Is this really anything but a gimmick? First, do most people even buy gold?  You see it on television commercials and on the news, but do you buy gold to stockpile?  And if you do, would you buy it out of a vending machine?  I get irritated when I try and buy a can of soda and it gets stuck or steals my money.  What would I do if my $2,000 gold ingot got stuck?

I don’t see us ever returning to the gold standard.  It might help curb inflation over the long run, but in the short run (years) it can’t react fast enough.  Plus, do we even have enough gold to do such a thing?  We’d have to do a full reset of not only our economy, but all the economies.  It might be easier to go back to the cowrie shell standard.

Fancy ATM skips the folding cash, spits out gold – Yahoo! News.