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Belgium's First Step To Making Buying Gold Illegal

|Includes:SPDR Gold Trust ETF (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