“Simon Black” over at SovereignMan website posted about the Netherlands closing of GoldMoney accounts issue we reported on several days ago here.
Simon is not the only respected individual making this prediction either. Dr. Marc Faber of the Gloom, Boom and Doom report has said the same thing as well as stated that he feels Europe (and Switzerland) will do what the U.S. tell them to do.
We commented on Simon’s post that while we certainly use and recommend GoldMoney on our site here, we do believe that for the time being, BullionVault may be a bit more under the radar.
First, GoldMoney is not even widely known outside of very conservative circles where people have some familiarity with precious metals. Fewer yet know of BullionVault since GoldMoney’s James Turk is a widely known individual in some circles and plays the part of spokesman well.
BullionVault has no real spokesperson and also has the additional advantage of being slightly lower in cost structure when it comes to overall fees as well.
Just as a quick overview, here are the steps that Simon outlined as the path more governments will be taking to try to first discourage you from Gold storage, and even Gold ownership of any kind in the first place, to potential Gold confiscation (they will pay for the Gold, but as when FDR did this, the price will rise substantially AFTER the Gold is in the government’s hands) as the ultimate threat:
Step 1: Just make Gold ‘harder’. To buy. To transport. To own. We are seeing this every day. And when you do buy, often times physically available metal does not trade near the “spot” price (plus reasonable premium) that the paper market suggests it should.
Step 2: Plant seeds of doubt. For example, idiot news reporters talking about how “Gold isn’t backed by anything”. Seriously, that happened. I wish I had posted the link here. This comment is on par with the lady saying she doesn’t care about farmers since she buys all her food at the supermarket.
Step 3: Tie gold to terrorism. Plant evidence. As Congressman Ron Paul has pointed out time and again, anytime you want to walk all over the U.S. Constitution, just call someone a terrorist. Even just an opposing politician (V.P. Joe Biden has already done this!).
The key is to protect yourself now by buying Gold, storing it offshore when possible (NEVER in your local bank safe deposit box), and never lose sight of what is real wealth and what is nothing more than a confidence scheme (paper money in ANY nation).
Jurisdictional diversification will be key. For those who have the financial means to travel and buy significant amounts of Gold there is the additional option of private vaults which come with no reporting requirements whatsoever as long as you hold the key to the box and the storage company cannot open without your key.
Check out our full BullionVault Review.
