1/2 Ozt of Gold Membership Fee to France’s Accounting DepartmentSeptember 27th, 2011
Executive Order 6102 of 1933 once took away the right to “hoard” gold bullion in the United States, Australia soon followed in the US’s footsteps by trading citizen’s gold and silver for paper. In the U.S. today, under your own discretion, you can own however much you wish – unlike Austria who recently determined a $20,000 limit on precious metal purchases. As the frustration escalates between the Keynesian dollar fanatics and Austrian sound money zealots, France announced a law that will no longer make it legal to purchase more than $600 of gold or silver with cash. Translation: Purchases of more than .5 ozt of gold must be accounted for in a digital system by France, and what gold investor only owns .5 ozt of gold?
The new law was supposedly instated to protect the country against the theft of metals like steel, copper, etc. in municipal properties (light poles, power boxes). There were no amendments to the legislation giving exception to the popular investments, gold and silver, and for this I think we should lift an eyebrow.
Earlier in the year there was talk about the 1099 law shoved into the health care bill proposing that goods and services over $600 must be tracked and documented. This was not only a nightmare for businesses based on contract work, but also nightmare for the precious metals industry. Since then the 2-line provision has been removed from the 2K+ page healthcare bill here in the US, but with France stirring the regulatory pot again, the ideas may begin to resurface.
I’m not crying wolf by any means, but in most of the articles covering this Orwellian measure you’ll see that France followed in Austria’s footsteps, so who will follow in France’s? Although the idea of precious metal confiscation seems far fetched and improbable in today’s world, the idea of having your gold or silver purchases recorded by the government could be painful to your reputation as a citizen. Gold and silver are a threat to today’s destructive dollar holders and to the fiat system they have created. Those that know this are happily benefiting off of the dollar’s inflation. This “hazardous” behavior towards dollar holders just so happens to effect the corporations and central banks in control of this system we find ourselves in. Purchasing precious metals anonymously will keep the buyer safe and is a RIGHT of privacy.