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http://news.bbc.co.uk/2/hi/middle_east/8679876.stm

An Abu Dhabi hotel has installed an ATM-style gold dispenser to give customers easy access to the precious metal.

It's 24 hour operational, and the machine updates the gold price every 10 secs. Really handy for those nights when you just can't sleep, and crave a gold bar at four in the morning.

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Gold%20ATM_0_1.jpg

An Arab buying some gold, yesterday.

a gold ATM machine, making gold-based "currency" transactions one step closer. This is a harbinger of things to come, as people increasingly demand to transact in non-daily violatable pieces of paper. This is also the nightmare scenario for all central banks, which have to be seeing developments in the precious metal space, and finally realizing that in the absence of prudent monetary policy, the people, as we noted yesterday, will take (non-dilutable) matters into their own hands. The Fed dilemma: recognition that the fiat "race to the bottom" has to be contained (unlikely) or confiscation of precious metals (see Roosevelt executive order 6102).

http://www.zerohedge.com/article/gold-atms-first-dubai-soon-everywhere-gold-now-one-step-closer-full-currency-status

Edited by Errol
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Drip Drip Drip...the dilution of Fiat currencies!

Gold and Silver...A banksters worst nightmare...except when all this comes out in the wash you are going to find many of them are already holding it.

The warnings were given! ;)

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Guest sillybear2

Drip Drip Drip...the dilution of Fiat currencies!

Gold and Silver...A banksters worst nightmare...except when all this comes out in the wash you are going to find many of them are already holding it.

The warnings were given! ;)

It's a shame nobody ever bothered to post them on here! Why didn't someone speak out? :P

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Abu Dhabi's top hotel is upping the ante in the race for Gulf glitz: adding a gold-dispensing machine. The ATM-style kiosk in the Emirates Palace monitors the daily gold price and offers small bars up to 10 grams or coins with customized designs. It's the idea of a German entrepreneur, Thomas Geissler, who began testing the cash-for-gold machines in his native country in 2009. The Abu Dhabi debut on Wednesday is billed as the first international foray for Geissler's "Gold to Go" brand. Geissler says he picked Abu Dhabi because of its high-rolling atmosphere and the region's traditional ties to gold in commerce. The unveiling was timed well. Gold hit a record high Wednesday of more than $1,245 an ounce.

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