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Thread: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

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  1. #1
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    Default Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    http://www.sovereignman.com/importan...itizens-10958/


    RED ALERT: World’s biggest gold storage company dumps US citizens

    by Simon Black on February 22, 2013
    Gold
    Reporting From: Sovereign Valley Farm, Chile



    ViaMat, a Swiss logistics company that has been safeguarding precious metals since 1945, is literally the gold standard in secure storage.

    They have vaults from Switzerland to Hong Kong to Dubai, and they count among their clients some of the largest mining companies in the world. They know what they’re doing.

    And now they’re dumping US citizens.

    ViaMat does a great deal of business within the United States. As such, the company is heavily exposed to the insane US regulatory environment.

    As an example, the 2010 Foreign Account Tax Compliance Act turned into more than 500 pages of regulation! The costs and risks associated with compliance simply became too much for ViaMat to bear.

    This matter-of-fact letter from ViaMat management explains their decision:

    “We are currently experiencing rapid and substantial changes in the general regulations within this business. The changes mainly relate to the tax structures and taxation systems of various countries. As a consequence of these changes VIA MAT INTERNATIONAL has taken the decision to stop offering this service at its vault [sic] outside of the US to private customers with potential US-tax liability.”

    RED ALERT: Worlds biggest gold storage company dumps US citizens

    This is huge. I can’t possibly overstate the potential ramifications.

    For one, the big gold depositories like Gold Money and Bullion Vault ALL use ViaMat as a primary secure storage provider. So it’s only a matter of time before ViaMat’s decision cascades across these other firms.

    I have written extensively about this to subscribers of our premium service, Sovereign Man: Confidential; most gold storage firms are all essentially different varieties of the exact same product. They are retail marketing channels that ultimately use ViaMat to store their gold bars. If ViaMat has US exposure, THEY have US exposure. It’s the same risk.

    Now, if you’re in the United States in particular, one of the most important (and cost effective) steps you can take in international diversification is to store precious metals overseas.

    Gold remains the most effective ‘anti-currency’ out there, a bet against a corrupt financial system and debt-laden sovereign governments. But remember– governments have an unblemished track record of plundering their citizens’ wealth. So if you store your gold in the US, you might as well ask Barack Obama to keep it under his mattress.

    If history is any guide, storing gold abroad is critical. And it’s one of those things that you won’t be worse off for doing.

    The thing is, it’s equally critical to work with a service provider that has no US exposure.

    There are very few options out there. Again, most of the big boys use ViaMat, which has heavy US exposure. Or Brinks, which is a US company.

    For nearly a year, I’ve been encouraging our premium subscribers to store their gold with a Singapore-based company that has the most advanced, transparent operation on the planet.

    They are 100% Singaporean, and their US regulatory exposure is effectively zero.

    They’re also one of the only firms on the planet that actually tests the gold it sells (and stores) through three different methods, including X-ray and ultrasound. This way you know that your gold is, in fact, gold… and not tungsten.

    Best of all, they’re launching a new service to receive your existing gold at their facilities in Singapore. So if you’ve just been shut out of ViaMat, or you want to transfer your gold from another facility that has heavy US exposure, these guys will be able to do it.

    They are, without a doubt, the best solution out there. And Sovereign Man: Confidential members have received unprecedented discounts and exclusive access to new services offered by this firm.

    Storing gold overseas makes sense no matter what happens. And it’s critical to choose a reputable partner with no US exposure. If you agree with this premise and are serious about taking action, I’d encourage you to get started right away with a premium membership. Get the actionable intelligence you need, all backed by our risk-free guarantee.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    http://www.sovereignman.com/importan...itizens-10958/

    RED ALERT: World’s biggest gold storage company dumps US citizens

    by Simon Black on February 22, 2013
    Gold
    Reporting From: Sovereign Valley Farm, Chile......
    whoa, huh?

    mr coles put this one up just awhile ago, over at finster's place

    again - why am i gettin the vibe that we're approaching a 'tsunami' moment?
    (when the water recedes....)
    Last edited by lektrode; 02-22-13 at 07:13 PM.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by lektrode View Post
    whoa, huh?

    mr coles put this one up just awhile ago, over at finster's place

    again - why am i gettin the vibe that we're approaching a 'tsunami' moment?
    (when the water recedes....)
    sorry should have looked harder.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    sorry should have looked harder.
    wasnt complaining with the 'whoa' = more like as in: Wow, something seems to be happnin that isnt immed apparent...
    at least not what with we're being shown by the lamestream media (since they all busy with 'other' news and i'll just leave it at that)

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by lektrode View Post
    wasnt complaining with the 'whoa' = more like as in: Wow, something seems to be happnin that isnt immed apparent...
    at least not what with we're being shown by the lamestream media (since they all busy with 'other' news and i'll just leave it at that)
    I think in this case, ViaMat doesn't want to handle U.S. depositors anymore because of the U.S. government's demand that they comply with our new disclosure regulations. From what I've read, it's getting harder and harder for U.S. citizens to open accounts in foreign banks.

    It seems they'll let us leave the country, but they don't want us taking our money with us.

    Be kinder than necessary because everyone you meet is fighting some kind of battle.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by shiny! View Post
    I think in this case, ViaMat doesn't want to handle U.S. depositors anymore because of the U.S. government's demand that they comply with our new disclosure regulations. From what I've read, it's getting harder and harder for U.S. citizens to open accounts in foreign banks.

    It seems they'll let us leave the country, but they don't want us taking our money with us.
    uh huh - unless of course it goes to... maybe the cayman islands instead?

    yep, that feeling i'm getting that the lower manhattan crowd is 'waxing up their boards' seems to be getting stronger every day...



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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by shiny! View Post
    From what I've read, it's getting harder and harder for U.S. citizens to open accounts in foreign banks.

    It seems they'll let us leave the country, but they don't want us taking our money with us.
    It can be straight forward to open a Singaporean based trading account with a bank in Singapore. To discourage this activity, the US does not allow long term capital gains from profit made in these accounts. But the US Government isn't the real hurdle, you will need an introduction, a significant amount to invest and you'll likely need to be an accredited investor.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by santafe2 View Post
    It can be straight forward to open a Singaporean based trading account with a bank in Singapore. To discourage this activity, the US does not allow long term capital gains from profit made in these accounts. But the US Government isn't the real hurdle, you will need an introduction, a significant amount to invest and you'll likely need to be an accredited investor.
    Interesting, thanks. It's all way beyond the likes of small-fry like me.

    Be kinder than necessary because everyone you meet is fighting some kind of battle.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by shiny! View Post
    Interesting, thanks. It's all way beyond the likes of small-fry like me.
    We're all small fry but it's important to understand that there's no vast conspiracy. It's just a lot of earnest, and often bumbling folks trying to land this over loaded beacon of freedom we call the US without crashing and burning. Our best years are not ahead but I don't think it means the folks at the wheel are evil. They are simply at the helm of an impossible mission. I don't like PM as an investment but it certainly will remain a store of value. It doesn't matter if one holds it in the US and has to pay the collectibles tax rate or holds it outside the US as a citizen. The 21st Century is a time to be cautious.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    At times like these, it feels good to be Canadian

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by verdo View Post
    At times like these, it feels good to be Canadian
    Freezing? ;-)

    Be kinder than necessary because everyone you meet is fighting some kind of battle.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by santafe2 View Post
    We're all small fry but it's important to understand that there's no vast conspiracy. It's just a lot of earnest, and often bumbling folks trying to land this over loaded beacon of freedom we call the US without crashing and burning. Our best years are not ahead but I don't think it means the folks at the wheel are evil. They are simply at the helm of an impossible mission. I don't like PM as an investment but it certainly will remain a store of value. It doesn't matter if one holds it in the US and has to pay the collectibles tax rate or holds it outside the US as a citizen. The 21st Century is a time to be cautious.

    Can you, just for the record, tell us what sequence of events would correspond to a conspiracy? How can we tell if the people at the wheel are evil? What is the tip off? Since, it seems, crushing peaceful demonstrations, passing laws that permit seizing everything from private gold holdings to kitchen gardens, and fascistic government agencies that seem to act above the law don't do it for you. Please lay out for us what would constitute a coordinated plan to deprive you of your money and the liberty to move somewhere else? Take as much time as you need I will wait.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    Can you, just for the record, tell us what sequence of events would correspond to a conspiracy? How can we tell if the people at the wheel are evil? What is the tip off? Since, it seems, crushing peaceful demonstrations, passing laws that permit seizing everything from private gold holdings to kitchen gardens, and fascistic government agencies that seem to act above the law don't do it for you. Please lay out for us what would constitute a coordinated plan to deprive you of your money and the liberty to move somewhere else? Take as much time as you need I will wait.
    Attempting to convince a conspiracy theorist there is no conspiracy is a fools errand.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by santafe2 View Post
    Attempting to convince a conspiracy theorist there is no conspiracy is a fools errand.
    Yes it seems that some people are indeed impervious to new and obvious evidence.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    Yes it seems that some people are indeed impervious to new and obvious evidence.
    You prove my point, thank you. We'll just agree to disagree.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    good line from jesse a couple of days ago re your conspiracy theory argument:

    "I should add the significant caveat that incompetence, careerism, and corruption explain all the same things, much more simply, and with a certain experiential credibility. I hate to attribute to Machiavellian intent what can be attributed to unprincipled self-serving stupidity."

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by jk View Post
    good line from jesse a couple of days ago re your conspiracy theory argument:

    "I should add the significant caveat that incompetence, careerism, and corruption explain all the same things, much more simply, and with a certain experiential credibility. I hate to attribute to Machiavellian intent what can be attributed to unprincipled self-serving stupidity
    Since SantaFe seems to have lost interest in defending his position, maybe you want to take up the banner. I subscribe to a conspiracy theory. It goes like this:
    The sitting president of the USA invented a story about the government of Iraq having nuclear weapons in order to justify a war of aggression against them.

    Lots of people still cling to this one. I met a lady the other day who insisted that Saddam Husein was in cahoots with Bin Laden ( making nuclear bombs).


    What do you say?

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    It depends upon what constitutes a conspiracy. Regardless, I think jk's quote from Jesse is the most apt to describe these things.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    Since SantaFe seems to have lost interest in defending his position, maybe you want to take up the banner. I subscribe to a conspiracy theory. It goes like this:
    The sitting president of the USA invented a story about the government of Iraq having nuclear weapons in order to justify a war of aggression against them.

    Lots of people still cling to this one. I met a lady the other day who insisted that Saddam Husein was in cahoots with Bin Laden ( making nuclear bombs).


    What do you say?
    i think bad intelligence re weapons of mass destruction [chem/bio,not nuclear] was promulgated and received with delight by the bush administration, which deliberately encouraged people to be confused about a non-existent iraqi role in 9/11.

    i am, as you are, horrified by the treatment of the ows protesters around the country, as well as the laws restricting habeus corpus, allowing for the extra-judicial execution of american citizens, etc. i see this country slowly sliding towards authoritarianism, just as it is becoming a self-organizing oligarchy. but i see these phenomena as emergent system effects, not the result of a small cabal in a smoke filled room somewhere.

    unfortunately, being a system effect makes it even harder to change than if it were merely a conspiracy.

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    Default Re: Got gold in bullionvault/goldmoney/viamat? Time to look elsewhere.

    Quote Originally Posted by globaleconomicollaps View Post
    Since SantaFe seems to have lost interest in defending his position, maybe you want to take up the banner. I subscribe to a conspiracy theory. It goes like this:
    The sitting president of the USA invented a story about the government of Iraq having nuclear weapons in order to justify a war of aggression against them.

    Lots of people still cling to this one. I met a lady the other day who insisted that Saddam Husein was in cahoots with Bin Laden ( making nuclear bombs).


    What do you say?
    You think the then sitting President of the United States invented a story all by himself? Lee Harvey Oswald may have acted alone but I seriously doubt the sitting President did that all by his lonesome...

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