This post was published at CNBC Television
This post was published at misesmedia
Happy 2nd Birthday Bail-in Tool! We Suggest Gold As The Perfect Gift
– Two years since bail-in rules officially entered EU regulations
– EU bail-in rules have wiped out billions for savers and and businesses, with more at risk
– Future of many failing banks now rests on depositors who may no longer be protected by deposit insurance
– Physical gold enables savers to stay out of banking system and reduce exposure to bail-ins
– For more listen to our Goldnomics Podcast: What does 2018 have in store for financial markets?
Ah, New Year’s resolutions, what fun. For some reason we opt to commit to fairly big life changes at some point between Christmas and New Year. This is a time when the real world seems a lifetime away from the cosiness of the holiday season. We often make a resolution when we have had too much of something, perhaps booze, perhaps food or perhaps it is based on regrets from the previous year. Despite best intentions, rarely do we stick to them.
May we make a suggestion? If you’re going to make any resolutions this year make one that is pretty easy to stick to and that won’t make too much of a short-term impact on your life: resolve to pay attention to and to protect yourself from the threat that is ECB bail-in tools. In the long-term you’ll be more grateful you did this than if you had given up cursing or drinking for a month.
This post was published at Gold Core on December 29, 2017.
New EU Rules For Cross-Border Cash, Gold Bullion Movements
– War on cash continues and expands to affect non-criminals including gold owners
– New definitions of ‘cash’ to be drawn up by EU to include gold and precious metals
– Claim cash and gold bullion ‘often used for criminal activities such as money laundering, or terrorist financing’
– Legislation will allow authorities to seize assets from those ‘without a criminal conviction’
– New rules usurp those currently in existence since 2005
The ironically named European Parliament’s Civil Liberties and Economic Affairs committees have backed plans by the European Union to introduce tougher checks and controls on cash entering or leaving the region.
Currently individuals are required to declare cross-border cash sums of 10,000 or more, under the First Cash Control Regulation (CCR) from 2005. A new decision will repeal the CCR and allow authorities to seize cash below the 10,000 threshold should criminal activity be suspected.
This post was published at Gold Core on December 19, 2017.
Authored by Eugene Etsebeth via CoinDesk.com,
Behind closed doors, G7 central banks are sluggish traders that buy and sell the same foreign currencies, marketable securities, special drawing rights (SDR) and gold day in and day out.
Central bank traders follow the investment policy enforced by the executive committees with specific asset allocation targets. In order of importance, the objective for foreign reserves trading generally is liquidity, security and returns (in last place).
Currently, the G7 is only concerned with the “appropriate regulation” of cryptocurrencies and not with the asset class potential of cryptocurrencies. Bitcoin, ether and zcash are nowhere to be found on the list of eligible instruments and currencies that central bankers are allowed to trade.
This post was published at Zero Hedge on Dec 17, 2017.
The EU is now developing strict rules for carrying cash when traveling to non-European countries and returning to Europe. The revision of the First Cash Control Regulation from 2005, which stipulated that EU citizens should register cash in excess of 10,000 when leaving the EU or when returning to the customs authorities have to, is what is under review. They want to lower the number and include gold, gemstones, and cash debit cards.
Interestingly, cryptocurrencies are not to be regarded as cash. Why? They are not sure how to detect them. The EU explanation reads: ‘Despite the high risk emanating from cryptocurrencies like Bitcoin, these are not added to the cash. The reason for this is that the customs authorities lack the technical means to discover cryptocurrencies. ‘
This post was published at Armstrong Economics on Dec 13, 2017.