Wednesday, May 12, 2010

ATM with a gold touch

I'm not making this up.

http://www.nytimes.com/aponline/2010/05/12/world/AP-ML-Emirates-Gold-Machine.html?_r=3

Abu Dhabi's top hotel is upping the ante in the race for Gulf glitz: adding a gold-dispensing machine.

The whole world knows the value of gold, including 3 billion Asian peasants. Add to that savvy group wealthy Swiss bankers, Latin American overlords, Greek shipping tycoons, and Middle Eastern oil sheiks. As usual, the retail American investor is the last to understand gold's store of value.

Robert Reich, former Labor Secretary and current University of California professor of Public Policy, you are completely wrong--again...and so are your colleagues. The scoreboard says so.

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