Thursday, September 15, 2011 – by Staff Report
Banks, Governments Move To Restrict Personal Gold Bullion Purchases ... The most alarming situation we identified is one relating to the purchase of gold coins and bullion – specifically in the country of Austria – but one that will likely make its way across the EU if it hasn't already. Unlike the United States, where gold and silver can be purchased through traditional methods like visiting a local dealer directly, or even placing an order on the internet, it is much more difficult to find a gold/silver dealer outside of Germany or Switzerland. As a result, those individuals interested in acquiring gold are left with purchasing directly from local bank branches. Had you visited an Austrian bank three months ago, you would have had absolutely no problem purchasing a large quantity of gold/silver from the bank. You'd simply call the bank about 24 - 48 hours in advance, let them know you're coming and how much you needed, and you'd personally pick up your order within a couple days. A new trend in Austrian (and perhaps the rest of Europe's) banking policies suggests that certain interested parties are attempting to control the sale and personal acquisition of gold/silver as safe haven assets. What we experienced first hand should be a wake up call for not just Europeans, but Americans as well. – SHTFplan/Mac Slavo
Dominant Social Theme: Why do you need to buy gold? Paper is more convenient. And really you should be using credit cards for most of your purchases.
Free-Market Analysis: While we cannot vouch for this article by Mac Slavo at SHTFplan.com, if true, it certainly represents a ratcheting up of government resistance to the rising valuation of gold versus paper money.
The fears of the free-market community, worldwide, that gold and silver would reach a critical valuation mass that would stimulate rationing and confiscation have long been discussed at alternative web-sites – even DB. Slavo believes these fears are in the process of being realized, and he identifies certain EU trends that support his concerns.
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