Same legislation that led to a lot of CFD/brokerage firms dumping US account holders. Basically requires foreign companies to report directly to the IRS on US account holder activity, or face punitive tax rates on corporate assets and earnings based in the US. Canada in particular is pretty pissed about it.
I wouldn't be holding gold that's "on the books" for any US citizen or company in these times. I imagine it would be about as easy to say no to the US government/millitary as it is with oilfield that aren't theirs
No the US won't be trying to confiscate gold from its citizens Any time soon as that would lower confidence further in the US dollar. There will be endless rumors though and the odd hint at anything That is anti gold and pro US dollar. Those guys know how to spook a market with a whisper and they do! All the fundermentals are there for Gold to be at $2500 - $3500 usd right now But be are struggling to get over 1605 usd because of lies, manipulation and nervous investors. GATA have plenty of info on the gold price manipulation. Hold tight and buy the dips......short term look for gold to go near $1650 then bottom out around $1200 - $1400 Long term.......3 - 10+ years.....gold to the moon. Go the Bulls
Since 2001 when Osama's nutcases did their thing and the ensuing "war on terror", a lot of former confidential/secretive financial arrangements arent so secretive anymore. The sharing of information between countries to locate "terrorist money" has become used to bust former tax havens.
GATA have nothing mate, except a bag full of shit that they turn to when no one is talking about them. Watch Bills debating skills when confronted by someone who knows what they're talking about: http://www.youtube.com/watch?v=7hnIqE1_ZGU
