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First ATM selling gold opens in Ho Chi Minh City
Nhan Dan Online ^ | 12 October 2010 | VNA

Posted on 10/19/2010 8:32:38 PM PDT by Army Air Corps

The Dong A Commercial Joint Stock Bank inaugurated its first automated teller machine (ATM) specifically for selling gold at its Tran Phu branch in district 5, Ho Chi Minh City.

Tran Phuong Binh, General Director of the bank, said this ATM is the first of its kind in Vietnam and the second in the world;. the other one is in Dubai.

Banks will issue buyers a card and, when they decide to make a purchase, they will pay using their cards, not cash. Prices will be updated at the ATM on a real-time basis.

Dong A bank currently has almost 5 million customers and a nationwide network of more than 200 branches and transaction offices plus around 1,300 ATMs.

It plans to manufacture and install 50 Gold ATMs by the end of 2011.


TOPICS: Business/Economy
KEYWORDS: gold; saigon; vietnam
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1 posted on 10/19/2010 8:32:43 PM PDT by Army Air Corps
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To: Army Air Corps

Thats one way back to a gold standard.


2 posted on 10/19/2010 8:46:23 PM PDT by marron
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To: Army Air Corps
Good!Time to get rid of worthless paper debt money the snakeoil salesmen/bankers are selling along with phony governments with printing presses trying to sell this nonsense to stay in power only to in debt the public with a debt no one even had the ability to lend to begin with.
3 posted on 10/19/2010 8:48:08 PM PDT by taxtruth
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To: marron

I am curious if the card the bank issues is only good for the Gold ATM machines. If so, I am curious about any associated fees.


4 posted on 10/19/2010 8:59:11 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps

I am actually more curious about what coins they are using and what if any possibility of counterfeit exists in their scheme.


5 posted on 10/19/2010 9:01:00 PM PDT by WoofDog123
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To: WoofDog123

I sometimes wonder if good Communists such as Ho Chi Minh and Mao Tse Tung are turning in their graves as their countries keep introducing aspects of capitalism into their economies.


6 posted on 10/19/2010 9:05:45 PM PDT by Dilbert San Diego
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To: Army Air Corps
First ATM selling gold opens in Ho Chi Minh City

Nice. A machine that will give you gold when you stick in your dong.

7 posted on 10/19/2010 9:09:23 PM PDT by KarlInOhio (Grblb blabt unt mipt speeb!! Oot piffoo blaboo...)
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To: WoofDog123

The machine likely dispenses taels of gold. Viet Nam does make gold coins, though.


8 posted on 10/19/2010 9:14:07 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Dilbert San Diego

You could connect them to generators and power the country.


9 posted on 10/19/2010 9:15:16 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: KarlInOhio
Now you made me think of the Austin Powers film Goldmember.
10 posted on 10/19/2010 9:16:47 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: ThanhPhero

Ping.


11 posted on 10/19/2010 9:17:44 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Rembrandt

Ping.


12 posted on 10/19/2010 9:19:55 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps

Unreal. And and my Dad who died in 1973 was bombing Hanoi the year before.


13 posted on 10/19/2010 9:25:26 PM PDT by buccaneer81 (ECOMCON)
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To: buccaneer81

Unreal indeed. Also, this is in Sai Gon, which is still quite a bit different from Ha Noi. Do you mind my asking what your father flew?


14 posted on 10/19/2010 9:28:03 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps

He was Nav officer on BUFFs.


15 posted on 10/19/2010 9:32:04 PM PDT by buccaneer81 (ECOMCON)
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To: buccaneer81

A friend of mine has just received orders to be a Nav officer on BUFFs.


16 posted on 10/19/2010 9:34:19 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps

Saigon...?


17 posted on 10/19/2010 9:37:55 PM PDT by mmercier (the bullet with butterfly wings)
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To: mmercier

Yes, Sai Gon.


18 posted on 10/19/2010 9:38:37 PM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps
A friend of mine has just received orders to be a Nav officer on BUFFs.

Amazing that these aircraft have lasted so long. The "youngest" planes date from 1962 (I was born in '63.)I think your friend is going to be in a crew of four. Back in my father's day it was a nine or ten man crew.

19 posted on 10/19/2010 9:39:25 PM PDT by buccaneer81 (ECOMCON)
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To: Army Air Corps

If you can buy it, someone must be willing to sell it. Why is anyone willing to sell gold for “worthless” paper money?


20 posted on 10/19/2010 9:41:22 PM PDT by HospiceNurse
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