Gold-dispensing ATM Machines Go Global...

dispensing the gold being dumped wholesale by Americans.

Abu Dhabi, Bergamo, Madrid, Germany and now Viet Nam:  (two links)  ATM gold  Ho Chi Minh City

As Americans unload all of their gold and silver jewelry at fire-sale prices into the "cash-for-gold" operators in order continue financing an unsustainable lifestyle, the demand for gold from people around the rest of the world has led to the proliferation of gold-dispensing ATM machines. 

This is not just about dispensing the world's oldest currency to paranoid, barbarous gold-freaks.  This could well be a prelude to the reinstatement of gold and silver as the global currency standard.  While it is likely that as the U.S. Government creeps further into totalitarianism and thereby imposes a fiat paper currency standard within U.S. borders, it would appear that the rest of the world is slowly transitioning into a system in which gold and silver are to be used fungibly for mundane commercial transactions.

Viet Nam is the latest country to make gold-dispensing ATMs available to the hoi polloi.  With Viet Nam's currency pegged to the U.S. dollar, the country is experiencing accelerating price inflation - a consequence of the systemic ravages caused by unfettered paper money creation.

In fact, most of the world is now feeling the effects of the monetary debasement caused by the incipient currency wars.  With basic commodities trading lock-limit up on several of the past trading days, it won't be long before the American consumer will soon be plagued by the blight of price inflation, despite the Government's absurd effort to force-feed the media with low CPI fairy tales.

Gold and silver prices are behaving much differently right now than they have for the past nine years of the precious metals bull market.  Every attempt since August by the banking cartel to knock down the price of gold using Comex/LBMA paper has been met with aggressive accumulation by big buyers globally.

While I expect price volatility to increase substantially going forward, if you are looking to begin accumulating gold/silver or add to your existing positions, I would suggest that you buy on every pullback.  And the mining stocks will be even more interesting.  As measured by the Gold/XAU or Gold/HUI ratios, the mining stocks have been lagging the price of gold for quite some time now.  As the supply of physical gold/silver depletes, I anticipate that the price/oz of gold in the ground that the market is willing to pay for good mining stocks and promising junior explorers will soon explode.  I expect that eventually (meaning over the next 3-5 years) we will see price euphoria in the mining stocks exceed what we witnessed during the tech/internet bubble.  There's just way too much paper money sloshing around globally that will ultimately seek refuge in anything connected with precious metals...