According to online gambling news in China, the latest trend among wealthy Chinese businessmen and communist party political leaders is the use of gold coins during exclusive underground casino games where millions of yuan can change hands in a single gambling session.
All forms of casino gambling are illegal according to strict Chinese gambling laws which primarily apply to the peons and not to the inner circle of business and political elite who are considered above the law.
Online gambling is strictly forbidden, even though millions of Chinese gamble each day at foreign based online casino in China with no repercussions.
The recent installation of China’s first gold vending machine in Beijing comes as little surprise to insiders in quick need of gold for the regular high stakes gambling sessions.
The gold machines, capable of accepting money as well as bank cards, instantly produce gold coins and bars of various sizes all the way up to 2.5 kilograms in weight (5.5 pounds) with a daily cap of 1 million yuan ($156,000 US).
The Beijing Agricultural Commercial Bank and a gold trading company launched the first gold vending machine this past Saturdays.
The government operated bank plans to install an unspecified number of machines in secure locations such as gold shops and upmarket ‘private clubs’.
It is within such ‘private clubs’ that high stakes gambling session take place between the top echelon of the communist party and the wealthiest of Chinese business men while surrounded by austere portraits of long dead communist philosophers such as Karl Marx, Lenin, Engels and Chairman Mao.