Sunday, September 23, 2012

Argentina Seeks to Reduce Gold Hoarding

It is in this article, in Spanish, from a newspaper in Argentina.

The Mainstream media will eventually catch on.

The gist of the article leads me to believe that while it is not illegal to own gold in Argentina, its government has taken to regulating the purchase and sale of gold for FOREX purposes.

As economic conditions deteriorate in that country, people are naturally flocking to gold. This means competition for the government, which if it has any sense, is also hoarding gold!

Gosh, were has this script played out before?? Gold hoarding because people are shunning a broken fiat currency which then causes liquidity problems for said country to operate within the world banking system? Hmmm, it sounds like this has happened before in some other BIG country - back in the 1930s which led to gold confiscation. Oh, right, here in the U.S.  New times, same old tricks. Next, we'll be hearing about the taxation of gold transactions and/or confiscation.

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