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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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Katchum's Macro-economic blog
  • Belgium's First Step To Making Buying Gold Illegal 1 comment
    Feb 8, 2013 1:01 PM | about stocks: GLD

    There is a proposal in the parliament of the kingdom of Belgium to make buying gold with cash illegal above 5000 euro. All transactions above 5000 euro in gold should be made electronically (so the government can trace you).

    This is of course a first step to make gold illegal and to confiscate your physical gold holdings. It is an attack on our privacy and I don't approve it. The more debt and the more government in a certain country, the higher the chance of repression by that government.

    Of course there is an option out. I'll just buy my gold in the Netherlands...

    Disclosure: I am long AGQ.

    Stocks: GLD
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  • dieuwer
    , contributor
    Comments (2940) | Send Message
    Gresham's law in operation.
    8 Feb 2013, 01:25 PM Reply Like
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