Germany Gold and Silver ahead of the cash ban down to 2k

Discussion in 'General Precious Metals Discussion' started by sctpc, Jan 4, 2020.

  1. sctpc

    sctpc Active Member

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    So ive been watching this over a couple weeks and wondering if the Australians will wake before we drop to 2k or not, I would believe Not as we are told how bad PMs are.
     
  2. madaw1

    madaw1 Well-Known Member

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    Personally-I don't think the most people care if we drop even to 1k /in buying precious metal/,as along as footy and cricket is on the telly...very sad.
     
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  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    Interesting that he says that physical is not available in Germany. A silent gold rush.

    The Germans have lost and lost over the decades. It's almost folk wisdom that gold is safety, considering the inflation, currency failures, re-sets etc from the past.

    Also noteworthy that prices are posted as per the paper market but there is no physical available - more of the madness that the world is embracing.

    Thanks for posting SCTPC
     
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The europeanmint.com still has plenty of gold so not sure where's the shortage?
     
  5. sctpc

    sctpc Active Member

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    Australians Have had it good for too long, with inflation and the rise you would think the sheep would start to wake, OH look at that Ball.

    Uncle Sal did this on it, there is not much news on it at all.

    Can you buy cash from the Euro mint without them knowing who bought it, for privacy?
     
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  6. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Good post @sctpc

    Yep, whilst the majority of the Australian public aren't fools, they are distracted by the media. I've said it before and I'll say it again....trying to speak to someone about PM's is harder than getting someone to join Amway or join a cult.
     
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  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Was just discussing this last night. You have to almost force people into metals before they understand, but once they dip their toes they can't get enough.
     
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  8. madaw1

    madaw1 Well-Known Member

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    Why to be distracted by media?-join Silverstackers and one will be informed properly...
     
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  9. bron.suchecki

    bron.suchecki Well-Known Member

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    $5k down to $2k I don't think would make much diference, can't see AUSTRAC bothering
     
  10. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Have you seen SilverStackers being discussed in the MSM. People find SliverStackers and other PM groups...like I did did once they trip to the benefits of PM's. Until then, people who stack PM's are of the fringes like preppers.
     
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  11. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    With respect Bron, AUSTRAC don't make the rules...the Commonwealth Govt does and the law " Part IV of the Banking Act 1959-1974" re gold ownership and trading was only suspended in 1976...not repealed so not such a big issue for the Treasurer to repeal the repeal or amend with limits I suspect.

    https://www.perthmint.com/info-historycontrols.aspx

    Given the Treasurer and his off-sider are leading the charge re restrictions on cash, anything is possible.
     
  12. bron.suchecki

    bron.suchecki Well-Known Member

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    I'm pretty sure the $5k is a regulation not law, so AUSTRAC's remit. Part IV is not related to that, and note that all that has to happen is for an un suspension to be done by the GG, not Treasurer and no need for unrepeal or any debate in the house. See https://goldchat.blogspot.com/2008/11/australian-gold-confiscation.html where I covered Part IV in detail - FYI when I was at PM we got that press release from the RBA archives when we asked them if Australia had confiscated gold like in the US. They had to hunt around, nobody knew about it and you'll find no one talking about Part IV prior to 2008. I sometimes wonder if I shouldn't have written anything as it would probably be still unknown today.
     
  13. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Fair enough Bron and thanks for the reply.
     
  14. bron.suchecki

    bron.suchecki Well-Known Member

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    Just to be clear, I'm not ruling out tightening up on gold transactions, just that while gold is fringe I don't think it is on AUSTRAC or govt radar - they have the banks crappy AML to focus on and the $10k cash thing. However, in the next bull market if we see lots of media coverage of gold then maybe the $5k would get looked at. I don't see any confiscation or Part IV unsuspension happening however - gold is no longer a constraint on money creation as it was in the past when it was the reserve asset.
     
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    oh right. Still need a bank account to buy. They still can buy from a tax haven like Hong Kong or Singapore. Switzerland will be closer to home.
     
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  16. silverhair

    silverhair Well-Known Member

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    and now Germany admits it's in economically in a bad state.

    All a coincidence of course
     

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