I understand very well why you men and women living in Australia could be worried about your lawfully acquired, and stored PM being confiscated by your own government. They do have a record of confiscating lawfully obtained property from law abiding citizens. Just saying.
They are fine with that actually: https://www.perthmint.com/storage/help/faq.html#can-i-audit-my-precious-metal
If Australia has so many problems with organised crime and terrorism why don't we do something about that? If they ban cash why need to ban gold? All transaction is recorded anyway. Anyone REALLY concerned about organised crime and terrorism in regard to money laundering would discover that the real problem is not cash and gold, but rather art, high value numismatic and similar. Just look at the prices realised on this recent Triton XIX auction. http://www.cngcoins.com/Coins_archive.aspx?CONTAINER_ID=655&ITEM_IS_SOLD=1 With a 3 gram coin size like a sov. you can easily transport 300,000 USD in you wallet and nobody at the airport would have a clue that is valued more than 200 dollars. All this BS proposals are about our freedom and not about crime or money laundering. Don't even bother to try to explain it.
gov cant ban gold/silver....ha, just look at the war on drugs or anything else that is criminalised. always be a cash economy and always be a black market.. there wont always be a government
With the Former Treasury Secretary fighting to pull the $100 US bill, $50 US, $500 euro out of production due to its high use with drug cartels. With this in the news gold and precious metals were bound to get the spotlight next.
The FATF is a bogus organisation ... "The 2003 Forty Recommendations require states, among other things, to: Implement relevant international conventions Criminalise money laundering and enable authorities to confiscate the proceeds of money laundering Implement customer due diligence (e.g., identity verification), record keeping and suspicious transaction reporting requirements for financial institutions and designated non-financial businesses and professions Establish a financial intelligence unit to receive and disseminate suspicious transaction reports, and Cooperate internationally in investigating and prosecuting money laundering" https://en.wikipedia.org/wiki/Financial_Action_Task_Force_on_Money_Laundering#Types_of_Members If these requirements were true why hasnt HSBC been criminally prosecuted when it was caught deliberately defeating wire filters to commit money laundering for terrorist organisations...
The 2003 Forty Recommendations require states .... "states" is in lower case letters ... it doesnt say "States" ... and in legal terms that is a massive difference in meaning, application and relevancy ... it is just a smokescreen organisation ...
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves." Alan Greenspan Thus MONEY LAUNDERING AND TERRORIST FINANCING RISKS AND VULNERABILITIES ASSOCIATED WITH GOLD http://www.fatf-gafi.org/media/fatf...isks-vulnerabilities-associated-with-gold.pdf Any case associated with terrorism and gold can be held against art as an asset class. The largest holders of physical gold and art are governments not terrorists. Any accusation linking gold inexorably with terrorism or criminality by a government is made against primarily itself. Drugs are terrorists preferred liquid asset as they facilitate utilitarian connections with criminal networks. Gold had no place in for example the IRA, FARC, Shining Path, Baader Meinhof, Weather Underground, Red army faction, Red Brigade etc. etc. From any classically trained political violence analyst there is zero academic credibility to an association between gold and terrorism on theoretical level any more than any other zero counterparty assets.
Milton Friedman referred to the Federal Reserve as the lender of last resort and almost burst out laughing .... probably because he knows it is a farce ...
The quickest way to financially destroy an upcoming terrorist group is to identify the drug or other smuggling market they are established in and either legalise or reduce taxation on the goods (e.g. cigarettes) or drugs (e.g. cannabis) so smuggling operations are bankrupted and their budding criminal networks collapse before reaching maturity as support infrastructure. Gold has nothing to do with terrorism as any analysis of 50 of the most prominent terrorist groups 1950-2000 will readily illustrate.
Ever wonder why the Netherlands was particularly exempted from terrorist attacks? There is your answer.
