One of our favorite daily commentaries is AGORA Financial’s 5 min. Forecast. It’s rare that we don’t find something useful in this this bullet point offering of current events and perspectives. Today is no exception.
Every once in a while they can’t fit all the information into their five minutes. At the end they offer this amazing scoop on buying precious metals in the EU.
“Austrian banks have now been ordered to restrict the sale of gold and silver bullion purchases,” says Mac Slavo at the SHTF Plan site, “and are limiting personal acquisitions of precious metals to 15,000€ (approximately $20,700 USD) at a time, or 11 ounces of gold at today’s prices.”
On top of this, they’re reporting that France no longer permits cash purchases of metals. Why do you think this is? It’s certainly not to help people from making horrendous mistakes. Rather, this is another imposition upon the people of Europe that will effectively track every precious metals purchase they make. Other than bartering, all other methods of purchasing are traceable.
But we need to honestly ask ourselves, “Is there really anything wrong with the rulers of France desiring to be able to track metals purchases?” One the one hand, we could say, “No.” There are a lot of good reasons why they might want to, including monitoring money laundering activities and… er, maybe keeping track of people who own metals so they can be confiscated at a later date? Oh, wait, that’s not really a good reason, is it? But what else could be their reasoning behind this? Mac Slavo over at SHTFplan.com has offered an excellent article on this very subject.
The idea of limiting purchases to around eleven ounces is amazingly draconian. Are they so fearful of people preserving their wealth by fleeing the euro for gold and silver that they must shackle them to the empty promise of fiat euros in order to stem the tide? This is a form of forcing diminished wealth even on those smart enough to sell their worthless promises for some gold. We have to ask ourselves, “Does any government have the right to limit the amount of gold that its citizens, or subjects, are allowed to purchase or accumulate?” The answer is obvious. But the reality defies the obvious with insidious impositions. Will they start pulling gold caps from the mouths of anyone who oversteps his allowable ounces?
For those of us in the US, should we expect the same thing? Most politicians know that most Americans who own gold won’t just hand it over if it was confiscated again. Trust in government has eroded too much in the US for people to wait in line to give up their hedge to the very entity they’ve, in essence, been forced to hedge against. And there are already reporting requirements on metals transactions in pockets across the country. Wealth depletion is alive and well on both sides of the pond. So what do you do about it?
I can’t say what’s best for you, but here are some thoughts that we might consider. First, accumulate as much gold and silver as possible, taking possession and stashing it where it can’t be found. If you’re like me, “as much as possible” isn’t much. But it’s something. If you hold dollars or any other form of exchange then that’s what you’re placing your confidence in. So, I’d say, do what you can.
Also, keep it quiet. That means don’t tell anyone outside your household, including family. People do things they’d never consider otherwise when they’re hungry, and especially when their children are hungry. You want to see a good man go nuts? Mess with his children. You’ll see a side of him you never knew could exist. So, be prepared and help where you can, but be discreet as well.
Consider where you can go. High population areas are not the places to be these days. There are exceptions, but violence and crime is escalating in population centers around the US. Riots and mob attacks are becoming much more common place in both the UK and US. And, until the ability of people to put food on the table (otherwise known as work) is made more available to the average man, this tendency will increase. Many can’t leave the country, which may a desirable option. Many will need to instead consider where they can best survive. Where can you plant some vegetables, raise a few chickens, rabbits and maybe some sheep or goats? If someone can provide the necessities for themselves they can weather the storm, as long as the government doesn’t come and take the necessities as well.
We’ll talk about these things in more depth in the future. For now, keep thinking. Men need to be looking out for their families. Prepare yourself. It may not end up being as hard as some think it will be. I certainly hope not. But it would be much better to be prepared and not need it than the other way around.
And, remember, the government can’t save you. There is a reason for the government in this world. God has ordained it (Rom 13). And, even though we often cannot understand it, He has His reasons why each and every government exists. Just like man, in his fallen condition, the government will let us down. It may be a little. It may be horrendous. But we can’t be fulfilled by anything the government has to offer anyways. We can only be fulfilled in Christ Jesus. We must be careful not to place our hope in gold, silver or even a wonderful and productive farm in an isolated location. Our hope is in God. It is Jesus alone who saves. And it’s resting in this knowledge that helps to make sure you’re not just another average Joe.