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A newly enacted gold policy in Austria that restricts the free purchase of gold by individuals may just be the start of a European policy shift that might border on infringing an individual’s financial freedom.<..

14 Sep 2011

VIENNA (Commodity Online): A newly enacted gold policy in Austria that restricts the free purchase of gold by individuals may just be the start of a European policy shift that might border on infringing an individual’s financial freedom.

-As per the new Austrian policies, individuals who wish to purchase gold will be restricted to purchase only 15000 Euros worth of gold at a time making gold an officially “restricted” commodity.

Earlier, one had to just call the local Austrian bank about 2-4 days in advance and state the amount of gold one wishes to purchase. But that has now been scrapped.

Although, the officials quote money laundering as the reason for the new polices, one but wonders if there isn’t more to it.

-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!



YOUR RESPONSE
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COMMENTS (9)
Sharetipsinfo
28 Jul 2012
Nice blog, Just wondering what people think about current market situation? Are we ready for another phase of recession? How our ef="sharetipsinfo"title="stock market"> stock market are gonna react? Lets share our view in this cool blog. What Say?
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TF
30 Sep 2011
How about you “fact-check” your article before you blindly repost a poorly investigated story. This “law” exists for more than 6 years now and its SOLE!! purpose is to fight money laundering, therefore you can only ANONYMOUSLY!! purchase gold worth up to 15.000 Euros. ANY LARGER SUM REQUIRES TO REVEAL YOUR IDENTITY (passport etc.) To sum it up: THERE IS NO SUCH RESTRICTION IN OUR COUNTRY, YOU CAN BUY AS MUCH GOLD AS YOU LIKE (EVEN AT A TIME) -> YOU JUST CANT DO IT ANONYMOUSLY Stop coming up with such rumors, there is way too much really serious stuff going on.
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Gold researcher
20 Sep 2011
This post is INCORRECT. I`ve called to banks and shops. There is NO limits or restrictions. The only thing: you should provide your passport while purchasing on sum more than 15 000 EUR. Don`t believe rumors.
Writer hi, The post is intended to reflect the changing policies pertaining to gold. Earlier you could purchase gold more than 15,000 euros without restriction. Now there is a restriction of 15000 euros AT A TIME. However, this does not mean you can only buy 15,000 euros worth of gold. what it means is that you may have to comply an additional requirement THAT WAS NOT THERE EARLIER. Like a passport as you said. Hope this clarifies the issue thanks for your comment
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Rasputin
20 Sep 2011
This will probably happen all over the EU and later also in the US. Buy gold and deposit it in Asia. Europe is bankrupt and getting desperate.
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JSmith
18 Sep 2011
Comment on this to Fbook or Twitter and see the gubbermint trawling those sites for gold bugs.Very cute. Agree with BenD re accumulate silver.Times is bad.
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Jon Matonis
17 Sep 2011
CommodityOnline: Is there a source for this news report?
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Ben Dover (America)
17 Sep 2011
It looks like they are actually trying to encourage people to focus on gold, rather than silver, as gold is almost entirely owned by the already uber-rich controllers - who, would like to divert attention away from silver, which, unlike gold, has many military-industrial uses, and is extremely scarce, compared to gold, in addition to being the nemesis of the worthless, paper, fiat currencies, which is why they are constantly, actively suppressing the price of silver, to prop up the fiat currencies. Silver is the DESTROYER of paper fiat currencies. Which is precisely why EVERY HUMAN BEING SHOULD BE BUYING SOME, TO DESTROY THE BANKING CARTEL'S GRIP/FRAUD ON HUMANITY.
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Name
17 Sep 2011
Ya think there's another reason? Let's face it: The Money Cartel mafiosos doing all this legalized counterfeiting don't like their victims protecting themselves / the competition on their racket.
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Oatka
17 Sep 2011
"As per the new Austrian policies, individuals who wish to purchase gold will be restricted to purchase only 15000 Euros worth of gold at a time making gold an officially “restricted” commodity." Boy, more than anything else, this says "RUN"!!! Sauve qui peut.
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