Central banks are presumably so frightened that a growing number of citizens are abandoning rapidly devaluing paper currencies and preserving their wealth through precious metals that governments are now cracking down on the anonymous purchase of gold and silver.
Following the Austrian government’s announcement that it was restricting the sales of precious metals to $20,000 a time, an amount which would purchase just 11 ounces, the French authorities have followed suit with an equally draconian new measure to deter people from buying gold and silver.
A recently amended French law states (translation), “Any transaction on the retail purchase of ferrous and non ferrous (metals) is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree. Failure to comply with this requirement is punishable by a ticket for the fifth class,” going on to confirm that any amount over €450 euros or $600 US dollars “must be paid by bank transfer”.
“According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc. Given the rampant rise in thefts of these metals from telephone poles, construction sites and businesses here in the United States, we can certainly see this as a reasonable assessment for why the French passed this law,” writes Mark Slavo.
“However, the fact that no exception was made for gold and silver simply cannot be ignored. The new law effectively makes it illegal to purchase even a single Troy ounce of gold or around 18 ounces of silver in cash.”
$600 USD isn’t even enough to purchase a half ounce of gold. This guarantees that citizens who are trying to transfer their savings over to precious metals will be known to the authorities, leaving them vulnerable to government confiscation of their gold and silver later on down the line, as happened in 1933 under FDR.
Why are central banks and governments in Europe so eager to make it as difficult as possible for citizens to buy precious metals? It’s largely because unlike every other financial commodity, they don’t have the market completely under their control, and cannot tolerate the idea of people having true power over their own economic destiny.
Secondly it’s because the great foundation stone of the globalists’ plan to create a federalized European superstate and the template for a future world currency – the euro – is crumbling amidst the debt crisis that has engulfed the continent. With eurozone members already preparing to abandon the single currency, the last thing the EU wants to see is European citizens of key member states like France doing the same thing by exchanging their euros for gold and silver.
The bottom line is that the central banks which run the world don’t like the slaves owning anything that they can’t manipulate the value of – it undermines their power monopoly.
In a related development, the London Gold Exchange, an international digital currency trader which has over 100,000 members, announced today that it is “permanently closed for business” due to operational difficulties.
The LGE provided a service whereby it exchanged fiat money for digital currencies stored in online user accounts, including c-gold, Liberty Reserve, Pecunix and v-money.
Article written by Paul Joseph Watson
Monday, September 26, 2011