"The Decade of EPIC Begins"
sgs, when you post this kind of info, what is more important to us than the info is your thoughts and opinion of what this means to us. personally , restrictions are not positive to our libertys. on the other hand 15,000 euros is quite a large amount, at 1312.00 current price in euros this would be more than 11 ounces. is this a way for them to keep up demand? are they predicting the future for us. that being when the world rushes in the exchange their worthless currency?...and i could go on this is why your imput is needed...thanks
@freddi607 I am not SGS but I will give you my thoughts and opinions.1. It sucks for the individual investor who would like to puchase physical gold. I mean 2 years ago my first investment was $50,000 of gold. Now an individual in Aussie land can only get 15,000 Euros worth....not a free market2. This action keeps a lid on demand...modulates demand. Sort of like staving off a run on the Banks.3. It's an admission from the Central Bank of OZ that their currency is getting more and more worthless.
Its only and exclusively for tax purposes. They want to watch the money change hands, and make it just a little harder for large transactions to take place by lazy large investors. Any large investor no matter how big, can either take a train to switzerland or germany (4 hours round trip) to get all the gold he needs, or buy 400 grams each day and there's no problem there. The rule is probably to not make it super easy anymore to hide taxable income for huge income earners in austria. Every wealthy person in southern europe hides income from the government and hates police.
Ron Paul 9/17 MoneyBomb site:http://www.ronpaul2012.com/
@BaustiThat's Austria not Australia, we don't use Euros down here and we can still buy as much phyzz as we want in the land of OZ, at the moment anyway ;)Its easy to get the two countries mixed up when you read their names.
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Why doesnt Ron have paypal!
The result of this will be HIGHER GOLD PRICES reflected in HIGHER PREMIUMS. Always remember that the PHYSICAL PRICE is destined to diverge upwards from the SPOT PRICE.That is why ETF's like SLV have those disclaimers about price divergence in them. Mike Maloney is 100% PHYSICAL ONLY because he knows that "the physical metal is what will be in short supply" as opposed to a stock, or an ETF.
Mike Maloney, Because but he has an income source.
In the same article, this is Freaky as Well ! "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!"
@heath9069 Ooopps. Thanks. Aren't I embarrassed. Maybe SGS can remove that post so I do not get anymore egg on my face.
Imagine that President Obama could order the arrest of anyone who broke a promise on the Internet. So you could be jailed for lying about your age or weight on an Internet dating site. Or you could be sent to federal prison if your boss told you to work but you used the company's computer to check sports scores online. Imagine that Eric Holder's Justice Department urged Congress to raise penalties for violations, making them felonies allowing three years in jail for each broken promise. Fanciful, right?Think again. Congress is now poised to grant the Obama administration's wishes in the name of "cybersecurity."http://online.wsj.com/article/SB10001424053111903285704576562294116160896.html
I'm thinking that somebody(central banks) knows that the Euro collapse is imminent. They don't want people getting out of Euros and into gold. They need to keep the sheeple right where they want...
@MalcomI used Paypal to donate to him today.
DEAR ALL PLEASE READ THIS:this story was proven to be OLD by a commenter on the Max Keiser website, when he postd a very similar story yesterday. Seems our bloggers are getting a bit sloppy! It seems that there have been limits on buying gold WITHOUT ID for quite a while, and you can still buy above €15000 with ID, or below that without ID.
This means no 500g and no 1kg bars my austrian friends. Used to own a 1kg bar. But changed it into a ton of silver.
WW, that's what I gathered also, it's simply a matter of ID being required for purchases over 15K. It's 3K at the vendors around here! This is an example of how quickly bad/irrelevant information can be disseminated on the internet too. Or, anyone please correct me if I'm wrong.
DM, are you in canada ?
haha, im in vancouver