Bankrupt Governments Will Confiscate Your Gold
by Simon Black: If
You Want More Jobs, Look to Steve Jobs
About two weeks
ago, GoldMoney sent out an apologetic email to all of its Dutch
customers. The email explained how the Dutch financial regulator
(AFM) considered GoldMoney to be in violation of various licensing
rules and compliance requirements.
things, AFM indicated that GoldMoney was selling investment
objects without a license
something that they consider
a heinous breach of their silly bureaucracy.
are so many technicalities involved here whether physical
metal constitutes investment objects anymore than a
collection of 80s action figures or a cellar of fine Bordeaux. Then
theres the jurisdictional issue GoldMoney doesnt
even operate in the Netherlands, nor does the company sell its own
inventory. Etc., etc.
None of these
points seem to matter; the regulators have spoken, and as a consequence,
GoldMoney is now closing the accounts of every customer living in
troubling when governments go after firms like GoldMoney. The more
signs I see, the more Im starting to believe that were
heading down a path where precious metals are once again confiscated,
outlawed, or at least severely restricted in many countries.
start with the why. What possible sense would it make to reduce
or restrict gold ownership?
modern financial system is a complete joke. Money is conjured from
thin air, backed by false promises from bankrupt governments. Then
theres the fractional reserve swindle, centrally planned interest
rates, government-produced inflation, manufactured statistics, insane
credit and sovereign debt bubbles, etc.
and like any good con, it depends on just that:
In order for
a system based on nothing to perpetuate, its imperative
that it commands the confidence of the people within it. And people
in rich western countries have been programmed since birth to believe
that the colored pieces of paper circulating around in their economies
are intrinsically valuable.
because developing countries already know its a scam. They
dont trust their governments, and they dont trust those
silly pieces of paper either. Out here in Asia is a great example
most of the region is very gold-oriented. They use paper as a medium
of exchange, but its a cultural norm to save with gold.
In fact, when
I walked into an Internet cafe earlier today here in Thailand, I
noticed quite a few people at the computers checking out live gold
charts (from Kitco).
People in western
countries are just starting to get it
and as more people peek
behind the curtain to see the true crimes being committed, the system
will be finished.
The gold price
is a constant reminder that the fiat financial system is a con job.
And the higher the gold price becomes, the more people become aware.
The political establishment will do whatever it takes to maintain
the status quo, and its possible that precious metals restrictions
will become a tactic:
Just make gold harder. To buy. To transport. To own.
the changes weve seen over the last two years; government-regulated
exchanges are continually hiking their gold margin requirements,
increasing investors burden to buy.
On the physical
side, the US government buried some insane regulations deep within
last years healthcare bill. The new rules required a mountain
such that anyone who purchased a single ounce of gold from a coin
shop would have to submit a special 1099 form to the IRS.
the rest of the article
October 12, 2011
© 2011 Sovereign Man
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