Monday, October 03, 2011

Austria and France Restricting Gold and Silver Sales

According to Mac Slavo of
A couple of weeks ago our report that some Austrian banks had begun restricting the sale of gold and silver to 15,000 Euro (~$20,000 USD) reportedly because of money laundering issues was met with disbelief by many readers of financial news and information web sites. As we mentioned in that commentary, it is our view that governments, namely in Western nations, are making it more difficult for individuals to make gold purchases, as well as to do so anonymously.

It looks like this trend of restricting the peoples’ ability to acquire assets of real monetary value is expanding. If a recent report from France is accurate, and based on the French governments official web site it looks like it is, then as of September 1, 2011, anyone attempting to sell or purchase ferrous or non-ferrous metals, which includes gold and silver, will be required to pay for their purchase via a credit card or bank wire transfer if it exceeds 450€ (~ $600 USD).
Assuming these reports are accurate, one has to wonder what is motivating a restriction on gold and silver sales in Europe...

Source: Slavo, M (2011, September 23), Tightening the Noose: France Bans Cash Sales of Gold/Silver over $600,

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