Chart usGOLD   Chart usSILVER  
 
Food for thought
A fool and his money are soon invited everywhere
Warren Buffet  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1217.311.31
Silver 17.78-0.03
Platinum 1331.50-1.75
Palladium 803.90-6.10
WORLD MARKETS
DOWJONES 17198-74
NASDAQ 4516-64
NIKKEI 16206-115
ASX 5368-69
CAC 40 4443-19
DAX 9750-50
HUI 206-3
XAU 85-2
CURRENCIES (€)
AUS $ 1.4471
CAN $ 1.4127
US $ 1.2825
GBP (£) 0.7850
Sw Fr 1.2073
YEN 139.7570
CURRENCIES ($)
AUS $ 1.1284
CAN $ 1.1015
Euro 0.7797
GBP (£) 0.6122
Sw Fr 0.9413
YEN 108.9690
RATIOS & INDEXES
Gold / Silver68.47
Gold / Oil13.30
Dowjones / Gold14.13
COMMODITIES
Copper 3.04-0.05
WTI Oil 91.51-0.90
Nat. Gas 3.83-0.01
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Swiss vault operator wants U.S. gold bugs out
Published : February 26th, 2013
629 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

By Clementine Wallop and Tatyana Shumsky
The Wall Street Journal
Monday, February 25, 2013

http://blogs.wsj.com/marketbeat/2013/02/25/sw...tor-wants-u-...

U.S. gold bugs who sought to store their gold overseas are under pressure from vault operator Via Mat International.

The Swiss-based company said it will no longer offer to store gold outside of the U.S. to private clients with potential U.S. tax liability, starting from the middle of 2013. The company attributed the decision to regulatory changes without specifying exactly what regulations led to the decision.

Via Mat's move targets the heart of the gold-bug movement. While many investors seek gold as a haven from inflation, currency risk, or economic uncertainty, for some, owning gold isn't enough. Only gold stored outside of Uncle Sam's reach will do.

... Dispatch continues below ...



ADVERTISEMENT

GoldMoney adds Singapore vaulting option

In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To find out more about the new vault, please visit:

http://www.goldmoney.com/singapore?gmrefcode=gata

GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults.

It's easy to open an account, add funds, and liquidate your investment. For more information, visit:

http://www.goldmoney.com/?gmrefcode=gata



That's because these gold bugs worry that rising U.S. debt will trigger a replay of 1933's Gold Confiscation Act. These fears have led to swelling bullion inventories in London, Zurich, Singapore, and Hong Kong, with banks and vault operators opening new storage facilities to meet rising demand in recent years. Other worries include the collapse of the financial system or a particular bank, which had been a prominent worry since the 2008 financial crisis destabilized a number of U.S. and global banks.

Via Mat's response to shifting financial regulations comes just weeks after Swiss banks USB and Credit Suisse adjusted their gold storage fees to encourage customers to hold individual storage accounts. Previously, the banks pooled their clients' gold and kept it on their own balance sheets, but post-financial crisis regulations prompted the shift by requiring banks to set aside more capital to back such assets.

But as governments ratchet up their oversight of the financial world, options for holding wealth outside of their purview are shrinking, especially for gold bugs.

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16



ADVERTISEMENT

How to profit in the new year with silver --
and which stocks to buy now

Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.

Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.

To learn about this report, please visit:

http://www.futuremoneytrends.com/index.php?op...=376&tmp...


Data and Statistics for these countries : Hong Kong | Singapore | Switzerland | United Kingdom | All
Gold and Silver Prices for these countries : Hong Kong | Singapore | Switzerland | United Kingdom | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Chris Powell
All articles by
Chris Powell
Next article by
Chris Powell
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
MOST READ
TOP RATED
MOST COMMENTED
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Chris Powell

Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
Chris Powell ArchiveWebsiteSubscribe to his services
Most recent articles by Chris Powell
9/22/2014
9/22/2014
9/22/2014
9/20/2014
9/20/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer