Gold to go: Now buying gold is like giving candy to a baby
Zee Germans are sooo damn clever. Not only did they invent pornography, but they have now come up with the ultimate recession-proof business: gold vending machines.
Nicknamed 'Gold to Go', the creation from Stuttgart based company TG-Gold-Super-Markt is to tap into the current increased interest in buying gold following poor returns in investments from the economic landslide.
Instead of purchasing a bag of Maltesers to sow sorrow from the poor financial markets, world class investors can now purchase gold coins and bars at 500 locations around that Deutschland.
Investment banker Jens Willenbockel told the FT that he believed there could be a market for the venture.
"It is also a great gift for children – for them getting gold is like a fairytale."
We'd argue that a child's fairytale would probably involve a Nintendo Wii but never mind. Nevertheless, the queues of passengers lining up at Frankfurt airport where the machine is installed suggests that it's a whole different wet dream for grown adults, as they fork out a rip off €30 (£25) for a 1g wafer to €245 (£200) for a 10g bar.
And why so expensive? Simple reason: the gold prices from the machines have a 30% markup above market prices. This even gets automatically updated every few minutes. But before you decide to commit any sort of crime, know that the machines have gold armour plated casing, and high res CCTV cameras watching you. Like hawks.
Do you think gold is still just a passing fad, or is the money revolution becoming more real? Would a machine like this do well in the UK? Let's hear your thoughts.