Austria Limits Gold Purchases, Italy petitions to ban Cash transaction

C

CriticalSilver

New Member
Silver Stacker
VIENNA (Commodity Online): A newly enacted Gold policy in Austria that restricts the free purchase of gold by individuals may just be the start of a European policy shift that might border on infringing an individual's financial freedom.

-As per the new Austrian policies, individuals who wish to purchase gold will be restricted to purchase only 15000 Euros worth of gold at a time making gold an officially "restricted" commodity.

Earlier, one had to just call the local Austrian bank about 2-4 days in advance and state the amount of Gold one wishes to purchase. But that has now been scrapped.

Although, the officials quote money laundering as the reason for the new polices, one but wonders if there isn't more to it.

-Meanwhile, in Italy, top industrials and professionals have sent a letter to the government and parliament to ban all cash transactions above 300 Euros, and only permit electronic transfers!

Source: http://www.commodityonline.com/news/Austria-restricts-gold-purchase-by-individuals-42329-3-1.html
Click to expand...

Europe is on fire - just Add It Up

[youtube]http://www.youtube.com/watch?v=QHapDS2fcFE[/youtube]
 
Probably to contain massive price increase in gold for when the SHTF... sure price will still go up but at least contain it a little if the population are restricted to daily limits
 
in italy I guess thats to quell the black market, but ironically the way italy is going the only market left will be the black market :/
 
gold will always have value, that's the thing about it. it doesn't need government to back it's worth. legal tender on the other hand relies on government decree and force.... and that is why metal is the currency for the free and honorable. we all should be reducing our reliance on government as much as we can. imo you will always be able to sell your metal somewhere in the world. prohibition only drives the prices up as risk increases for suppliers. look at alcohol, drugs, etc etc. if you have wealth and want to store it this way, you will be able to do it.
 
I wounder if we could confiscate the gold fillings of the Austrain cleptomaniac legislators with a pair of plyers ? :mad:
 
Username said:
gold will always have value, that's the thing about it. it doesn't need government to back it's worth. legal tender on the other hand relies on government decree and force.... and that is why metal is the currency for the free and honorable. we all should be reducing our reliance on government as much as we can. imo you will always be able to sell your metal somewhere in the world. prohibition only drives the prices up as risk increases for suppliers. look at alcohol, drugs, etc etc. if you have wealth and want to store it this way, you will be able to do it.
Click to expand...

Hey, great first post Username!
 
Could the police train sniffer dogs to find gold? :P

Bloody currency controls...Keiser and Celente were right! :mad:
 
The article seemed to suggest that you could just go to a bank and order gold if you wanted; does the restriction include if you buy it online and have it imported to your address in Austria?
 
You must log in or register to reply here.
Back
Top