Abu Dhabi Has a Gold Dispensing ATM. Of Course It Does.
- Joshua M Brown
- May 13th, 2010
Right on time, a luxury hotel in Abu Dhabi unveils an ATM that dispenses bars of gold for cash you feed into it. The machine monitors the price of gold on a minute-by-minute basis…just like that know-it-all uncle of yours does – the one with the coins and the collection of conspiracy theories about fiat currencies.
Who built this bad boy?
From USA Today:
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.
Cool. Now make it dispense silver and platinum and you could start putting these machines in every Fidelity and Schwab branch in the country.
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The Reformed Broker is a blog about financial markets and the economy. Joshua Brown is a New York City-based investment advisor for high net worth individuals, charitable foundations, retirement plans and corporations... More.