Remember the fairy tale about Rumplestiltskin who spun straw into gold for the future queen’s first-born child? How about the mysterious dark art of alchemy in which people tried to turn bricks of lead into bars of gold? Now there is an actual gold machine called Gold to Go that turns stacks of paper money into gram bars of gold and gold coins. The gold machine doesn’t actually physically transform paper money into gold coins; rather it acts more like an ATM where one exchanges their money for bars of gold and gold coins.
There is a catch of course. The items made of real gold from the gold machine are sold at a premium to market value. You will have to pay a good bit more for five hundred dollars worth of gold than five hundred paper dollars. It costs money to physically mint gold bars and gold coins then ship them to their ultimate destination. Valuable merchandise has to be insured against theft and loss as well, and gold bars and gold coins are the very definition of valuable merchandise. The stockholders of the company who own the gold machine are entitled to a profit just like any other gold retail establishment. Add it all up and people pay dearly for the privilege of owning gold bars and gold coins.
The first real gold machine was placed in a luxury hotel called Emirates Palace in the Middle East city of Abu Dhabi. The location makes perfect business sense because of the area’s history of trading in physical gold. And buying gold bars and gold coins from a gold machine takes a lot of money. Who better to buy gold bars than oil moneyed millionaires and billionaires? Aside from oil money, other business people and tourists who can afford to stay at such a regal hotel may want to try out the gold machine as a novelty, a very expensive novelty.
With the uncertainty in the global economy, many nations with a wealthy populace could add to the gold machine company’s bottom line. There is a real fear of uncontrollable inflation coming and one item that has always maintained its value is gold be it in gold bars or gold coins or gold jewelry or any other physical form of gold. Wouldn’t it be nice to trade some paper currency for little gram gold bars or gold coins that might have existed in a previous incarnation as a pirate’s gold doubloon or a Roman soldier’s aureus? Gold coins and gold bars have never been thrown away, only melted down and recast.
The Ex Oriente Lux company has got a winning business idea with their gold machine that eats paper currency and spits out gold bars and gold coins. The spot price of gold has shot up like a rocket in recent years, which makes their inventory of gold items increase in value. The gold machine is one business in which it would be hard to fail.