'GoldMoney' banned in Netherlands

[Midnight Man]

Yet another nail in the coffin of freedom of choice and the ability for the "little guy" to protect themselves from the financial s___ storm cooked up by the big wigs in power.

There was a time I used to look and read stories about a "hidden elite" and dismiss them, thinking "Nah, we're in a democracy etc etc".

The more I read now, the more jaded I become.

The "little guy" (us) are being slowly led up a garden path filled with booby traps and gotchas, in the interests of serving a few bankers who effectively control the whole ballpark.

I just hope that the time of their justice comes whilst I'm still alive... I will gladly line up with thousands of others in the town square for the honor of flinging some of 'em in the clackers with some hot cat s___.

 

[Guest]

Wouldn't worry at allLike Ron Paul says.When Markets are inequitable the Black market flourishes.
Prohibition didn't work neither will confiscation or control of Gold.

REDBACK

 

[BBQ]

How many people carry cash around with them these days?

I don't know. But I always do.
Anonymity. No profile databases being built on me. No personal info sold to tom, dick & harry.

The less the crooks know about you the better.

 

[Wout]

Its little steps like the quick scan for anything under $100 that will get people used to just scanning away, then they will say wait its not safe we need the card to be permanently attached to you etc until its a chip

pretty scary sh*t IMO, oh and not sure about the Justin Timberlake movie? I havent watched much of his movies

 

[upandaway]

I have some metal with GM and have asked them to clarify some things in regard this. It is also very disappointing that they have not even tried to bring a legal case in the EU courts to defend their business or account holders. Speaks volumes about who they were up against and an outcome when the status quo is on the line.

In their statement they refer to those who reside in Holland as having their accounts closed. I wonder about the legal standing of customers who no longer reside in their country of birth and didn't open an account with their EU address either?

When we finally appear to be going upwards again in the metals I am going to move out of it and have to hold all physical which is annoying and not particularly practical in the least, but this move by Holland I feel will be the first of many.

It also begs the question about solvency and getting your assets with an administrator in charge it all points to hassles. Long term I think their days are numbered. Nice idea but those in the shadows have spoken here.

 

[goldpanner]

I think they tried hard to defend their case but must have decided that they could not win in the end. Goldmoney wrote an article about it.
I think there will be a push to ban all such gold/silver investments in Europe to prevent people shifting their savings out of banks.
If they also make it difficult to buy physical silver and gold by banning the sale of bullion what will the people do? With a big stock market crash and run on banks they are stuffed!
They will lose their savings and investments and pension!
Let us wait and see if other european countries follow suit and then we know for certain that they are expecting things to get really bad!

 

[jnkmbx]

If you can't bone it, you don't own it.... or something @_@



Let's hope we've stacked enough before things get real ugly.

 

[Aengrod]

I think they tried hard to defend their case but must have decided that they could not win in the end. Goldmoney wrote an article about it.
I think there will be a push to ban all such gold/silver investments in Europe to prevent people shifting their savings out of banks.
If they also make it difficult to buy physical silver and gold by banning the sale of bullion what will the people do? With a big stock market crash and run on banks they are stuffed!
They will lose their savings and investments and pension!
Let us wait and see if other european countries follow suit and then we know for certain that they are expecting things to get really bad!

I have a gut feeling that it is not US that should be afraid of confiscation but Europe. Things slowly are getting ridiculous here, each new law that is passed is more ridiculous that previous one, and this constant gold bashing in MSM (daily morning paper that I read when going home after working night shift). I think Simon Black nailed it in his daily newsletter:

The gold price is a constant reminder that the fiat financial system is a con job. And the higher the gold price becomes, the more people become aware. The political establishment will do whatever it takes to maintain the status quo, and it's possible that precious metals restrictions will become a tactic:

Step 1: Just make gold 'harder'. To buy. To transport. To own.

Think about the changes we've seen over the last two years; government-regulated exchanges are continually hiking their gold margin requirements, increasing investors' burden to buy.

On the physical side, the US government buried some insane regulations deep within last year's healthcare bill. The new rules required a mountain of paperwork such that anyone who purchased a single ounce of gold from a coin shop would have to submit a special 1099 form to the IRS.

(The rule was later modified under intense pressure from various lobby groups, but it still gives you a good idea of what these people are thinking...)

Then there's the new Dodd-Frank legislation that makes it nearly impossible for US citizens to trade securities and commodities from overseas accounts beyond the reach of the federal government.

Then there's the Liberty Dollar debacle in which the US government used obscure counterfeit laws to seize millions of dollars of silver coins that were owned by the firm's customers!

Then earlier this year, the Financial Crimes Enforcement Network (FinCEN) issued new guidance requiring that US taxpayers who hold gold in certain offshore financial accounts report such holdings on their annual FBAR. Conveniently, this ruling put up a barrier for Americans to use GoldMoney.

GoldMoney's battle with the Dutch regulators is just another example of governments making gold ownership more cumbersome.

Step 2: Plant seeds of doubt

We're seeing signs of this as well. "Prominent" economists have been pounding the table against precious metals with vigor, and the propaganda ministry is focusing its efforts on gold's recent price drop to make people believe that it's dangerous to buy.

This recent media clip in which a reporter extols the virtues of the US dollar being backed by the federal government says it all. It's already begun, and we should expect more.


Step 3: Tie gold to terrorism. Plant evidence.

Here are two incontrovertible facts: Westerners are petrified of Arab terrorists. The Arab world is a very gold-oriented society. It wouldn't take much effort to link the two by suggesting (and planting evidence) that terrorists use gold to move money and finance their operations.

This will be surely be the next step... and if we start seeing this, you can bet your last ounce that restrictive controls are coming.

If Ron Paul win in US, I'll seriously consider moving there.