The Coming Collapse might be your Final Chance to Legally Buy Physical Gold this Decade
By John Galt
JohnGalt.com
December 14, 2011
The current European implosion is bringing about a probable once in a lifetime opportunity which sadly might just be the last chance this decade to buy physical gold before capital controls worldwide and within the U.S. make it difficult if not impossible. The history of economic strife and plans by world governments to impose massive restrictions on the flow of funds to prevent internal collapse make gold an attractive target for seizure as political failings along with management of command control economies demand the removal of all instruments which could allow independent transactions by the citizenry.
The central banks of the Western world are already grasping at straws as nations like Greece and Italy have already imposed stealth capital controls and the United States begins implementation of its restrictions after December 31, 2012. This imposition of restrictive monetary policies has made gold an attractive instrument for moving wealth overseas, especially using the electronic or digital gold option via the various instruments like GLD and ownership instruments in foreign vaults as in the Perth mint and elsewhere. The “paper” or digital gold will be the first precious metals seized to impose controls thus making their practicality in an economic collapse scenario such as a disintegration of the European Union. After the first round of seizures using this method however, the state, be it a foreign entity or the U.S. will begin to implement processes to tax the transactions and restrict amounts of physical gold an individual can obtain. That is why the action in the markets in 2008 and 2011 are appearing so similar but of course as the saying goes, “this time it’s different,” because this time, it truly is.
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