... Interesting move by Vietnamese govt to assert control over country's gold supply as individuals seek safe haven in pm's & US$'s http://www.24hgold.com/english/contributor.aspx?rss=true&article=3693770970G10020 VRS x
That's hardly democratic This has got nothing at all to do with your post VRS, but when I was a kid in the 70's, a common debate in school was Singapore's draconian laws restricting personal freedom in order to keep a clean and controlled society. I wonder how long it will be before Australia follows Viet Nam's legislation. We're already tracing the Singaporean steps. The ignorant and stupid majority will always vote in favour of laws that restrict freedoms if it means their pathetic and pointless lives are not interrupted by such inconveniences as street marches, offensive T-shirt slogans and circular saws at 9:00 am on a Sunday morning.
Entirely offtopic: Awesome VRS! I see a short summary! Ontopic: Vietnam isn't really a democracy, not really surprised at this move. Although they have been trying to ban gold for some time now. Hopefully this does not happen in Australia, or that would be a dark day.
People in Vietnam are buying it up because they have massive inflation and a totally idiotic central bank. With inflation soaring at something close to 25% the central bank still persists in lowering interest rates. They may be the next country to see hyper-inflation but personally i would already put 25% in the hyper-inflation zone.
Oh bugger off Fishface it isn't a summary it's a miniscule mini-sentence - besides I've never posted just a link without a pointer in the thread title - its just that some fumpwits can't be bothered to read the thread title.... AAAARGH! Don't GO there lol! (!) xxx
