Tightening the Noose: France Bans Cash Sales of Gold/Silver over $600

by | Sep 23, 2011 | Headline News | 134 comments


A couple of weeks ago our report that some Austrian banks had begun restricting the sale of gold and silver to 15,000 Euro (~$20,000 USD) reportedly because of money laundering issues was met with disbelief by many readers of financial news and information web sites. As we mentioned in that commentary, it is our view that governments, namely in Western nations, are making it more difficult for individuals to make gold purchases, as well as to do so anonymously.

It looks like this trend of restricting the peoples’ ability to acquire assets of real monetary value is expanding. If a recent report from France is accurate, and based on the French governments official web site it looks like it is, then as of September 1, 2011, anyone attempting to sell or purchase ferrous or non-ferrous metals, which includes gold and silver, will be required to pay for their purchase via a credit card or bank wire transfer if it exceeds 450€ (~ $600 USD):

Here is the applicable French law via www.legifrance.gouv.fr and translated into English by Google Translate:

Article L112-6
Amended by Law n ° 2011-900 of July 29, 2011 – art. 51 (V)

I. Can be made in cash payment of a debt greater than an amount fixed by decree, taking into account the place of tax residence of the debtor and the professional purpose of the operation or not.

In addition a monthly fixed by decree, the payment of salaries and wages is subject to the prohibition contained in the preceding paragraph and shall be made by check or by transfer to a bank or postal account or account held by a payment institution.

Any transaction on the retail purchase of ferrous and non ferrous is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree. Failure to comply with this requirement is punishable by a ticket for the fifth class.

II.-I Notwithstanding, the costs of the department conceded that exceed the sum of 450 euros must be paid by bank transfer.

III.-The preceding provisions shall not apply:

a) For payments made by persons who are incapable of binding themselves by a check or other payment, as well as those who have no deposit account;

b) For payments made between individuals not acting for business purposes;

c) paying the expenses of the state and other public figures.

According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc. Given the rampant rise in thefts of these metals from telephone poles, construction sites and businesses here in the United States, we can certainly see this as a reasonable assessment for why the French passed this law.

However, the fact that no exception was made for gold and silver simply cannot be ignored. The new law effectively makes it illegal to purchase even a single Troy ounce of gold or around 18 ounces of silver in cash.

Looking at a single incident, for example the identification requirements in some major US cities like Houston, TX if you want to trade bullion, or the aforementioned restrictions in Austria, could be construed as coincidence or no big deal. But the most recent example in France suggests that what we have here is not a coincidence, but rather, a pattern. If there truly is a behind-the-scenes push to keep gold out of the hands of the people, then it would likely be done through indirect means and we commoners would be none the wiser.

How long before the US Congress, as a result of the rise in metals thefts here in the United States, uses this same excuse as a pretext to follow in the footsteps of the French?

Strike that question. That can’t happen in America.

Reference Sources: Legifrance.GouvEgalte & Reconciliation, Chris Martenson, GLPKitco

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    1. Jim

      Silver down 10% two days in a row….I’d imagine at $33 or less per ounce some are ready to buy. I think I will if I can afford it.

      • Jim

        Gold down $100 ounce….should bounce….a little

      • Upright Citizens Brigade Student

        Easy. I would be real careful about buying silver around $33. I am afraid we are going to see silver break down into the 20s next week.

        As I make my way through my email alerts and newsletters, I see mentions of the new support level for silver being as low as the mid 20s.

        From MONEX: Silver support
        is now anticipated at $29.85, then $28.40, and then $26.41.

        The interviews in this King World report made me feel better:


        • micha

          The laws dont apply here, as the week ahead is not dictated by economic norms or rules but by the whims of the Cabal’s corruption. Its outright war on financial independence.

          What gold can you buy for 600? An 1/8 oz kopeck? The end game of this trend is to outlaw PM specie, re: those they havent destroyed with downward price gouging.

          Tested in Europe, then legislated in USA.

      • firehawk

        the buying of gold will be in america in 2012…its going in under the healthcare reform bill…question is our year starts on Jan 1st, the Governments starts on Oct 1st 2011…so could it be already and the people do not know it yet?….

        • chad harding

          I would say that Dodd-Frank act will be the end of PM buying and selling. There is a lot of alarming parts which talk about the trade of gold. I was worried about it when it took effect, but i guess the rest of it goes into effect 6 mo later so… we’ll see. I really think they’ll outlaw the possession of precious metals by next year, then they’ll start confiscating it again. I am going to sell all my stocks before the end of the year and invest in physical. the stock market is going down, it’s just a matter of time. as soon as the government refuses to bail these guys out then it’s going to crash. then you’ve got Italy over the point of no return, actually we’re close to the point of no return here. if Obama takes us into another war forget about it, move.

    2. Cave Man

      Desperate politicians do desperate things before, during and after desperate times. I have some Zimbabwe notes that will solve the worlds problems today.

      • LoL


    3. Hammerun

      There is such a back market in metal if you deal in cash, this is ridiculous. If they try this shit here they will only succeed in driving it deeper underground and they will “never” see what is in the real supply. People here know and are not ruled by some socialistic morons that pass horse shit rules designed to clamp the people. Europe has for to many years have been under this ternary for so long they I don’t think they know how to get out of it. If they pull this stunt here in the US, they in all likelihood will regret it.

      • Free Human

        What a joke, there is even less freedom and privacy here
        Most interesting thing to note on a freedom and privacy issue is the old Soviet states have a lot more freedom, privacy, access to care etc than we do here in North America – I speak from direct experience
        I buy what I want, get almost instant access to care etc without anyone ever demanding proof of who I am or if I have the rights
        There has been a massive clamp down on freedoms and rights here, increases in taxes etc and less services provided
        Personally I don’t care if it is damn filthy rats or repulsive ones making statements, they all are out to screw the many so the few can control all

        • Ram

          Out here in India the so-called “Black Money” or parallel economy is perhaps as large as the “White” economy. Black only implies avoiding being robbed by the Govt via taxes! 🙂

          Now, considering how the Govt has become the biggest thief in the economy, the once maligned Indian way of doing things may start seeing favorable press.

          In fact, many people see the Black Economy bailing out the white, which, being run by the Govt, is broke and struggling.

          Coupled with people’s basic mistrust of Govt, you can see how India is very well placed to handle the coming crisis. We have not forgotten centuries of living under various rulers where only gold and our wits keeps the wolves away from the door!!! 🙂


        • Tretka

          In the Soviet, the black market is that which you refer to though you may not realize it. The Government is focused elsewhere right now. However, Putin is about to take over again, watch what happens now-won’t be freedom.

          • Free Human

            I have been to the black markets, the open fairs and the legitimate pharmacies, etc
            No issues at any of them, a lot more things available, much better prices, lower taxes, no demands for ID
            Things may change when Putin reclaims power outright again rather than controlling from the PM seat, only time will tell
            I hope it remains free, I am most likely heading back that way
            Have to admit though Putin did bring things back up from the failures of previous administrations

      • sixpack6t9

        The governmental goal here, is to be able to LOCATE precious metals stockpiles, so they can confiscate them easier. The same with guns, iodine (that helps keep people alive in radiation situations)and other large assets. Our own executive orders spell that out for anyone who cares to read them.This also helps them track the buyers for detention and confiscation of assets.

      • True Patriot

        What has happened to the USA… our governments have totally forgotten their resposibility, to protect the people of this nation. We are no longer one nation under God. We the people have stood by and allowed these polititions to destroy this once powerful country. While corrupt and greedy men (polititions) have displayed actions likened to the crooks and thieves that are sent to prison, go unpunished it will be the people of this once glorious Nation whom shall suffer. We must unite, unite in voting these criminals OUT! God bless the USA!

    4. TnAndy

      Can’t see it’s a big deal, personally. Unless you live near a major bullion dealer, you’re gonna have to put it on a card or bank wire, or wait weeks on a check to clear…..and for major amounts ( say 30-50k upward ), many dealers will ONLY accept bank wire.

      This paranoia about “tracking” your metal purchases is unjustified, IMHO. If some authority figure turned up at your door “demanding” you turn it in, would you ?

      Or would you create a new job opening in that guy’s position using the ‘other’ precious metals…lead and brass ?

      Personally, I’d treat them like any other home invader.

      • Man Up

        Mine fell off my yacht.. and my gun was stolen. 🙁

        • Plain Old American

          No. Never lie to the feds. It is a crime. You only ask: “Do you have a warrant?” And then you only say “I want to speak to a lawyer.”

          Nothing else.

          • S

            It’s only a crime if you get caught.

      • JMills

        That would only work once. Then a FED SWAT team would accompany the order to turn in your gold or other PM. Then what? Firefight until your family is ventilated by Fed shooters with the “law” on their side? That a non-starter in my book. Stay under the radar, plot and scheme back at them. Buy as anonymously as possible- drive to the broker who has a camera in place by the way and purchase for cash while you can. Sooner or later a stand must be made but over small amounts of gold- I will not fight. If they come to take the food from my kid’s mouths then that had better bring a tank and a lunch.

        • WestVaFolks

          I went to local coin dealer a few months ago to buy pre-1900 liberty heads. Dealer said he needed my name, address, telephone no. and DRIVER’S LICENSE NO. I said I’m paying in cash. He said doesn’t matter, that he could not sell me coins unless he had all that info. Anybody know why?

          • admin

            Here in Houston the reason they gave for this is to prevent the sale/transfer of stolen precious metals…. but i suspect the reasons are a bit more sinister…

          • SmokyMtnLady

            My dealer here in Tn. lets me walk in, cash in hand, tell them what I want, then walk out a few mins later. I’d find another dealer, WVF!!

          • sixpack6t9

            see above…

            The governmental goal here, is to be able to LOCATE precious metals stockpiles, so they can confiscate them easier. The same with guns, iodine (that helps keep people alive in radiation situations)and other large assets. Our own executive orders spell that out for anyone who cares to read them.This also helps them track the buyers for detention and confiscation of assets…

        • silver bean

          Buy on Craigslist. I can’t tell you how many pleasant transactions I’ve had in various shopping center parking lots where there are no prying cameras/eyes, but there is a lot of room to find a spot to park and do the business.

          • Cyber_Samurai

            Wow! In my neighborhood, there are cameras even in the parking lots. The roof of wally world looks like a prison, it has so many cameras.

          • Jim

            Craigslist is great for buyers. I’ve posted buying junk silver at 85% of the coinflation value and gotten a few sellers; if I have the money and want it more I offer 90% and get plenty.

        • MSPA

          JMills says “Then a FED SWAT team would accompany the order to turn in your gold or other PM. Then what? Firefight until your family is ventilated by Fed shooters with the “law” on their side?”

          Remember Federal LE exists because the citizens allow it to exist. Should they ever cross the citizens and ignore their constitutional limits in a consistent and blatant manner and legal remedies don’t work, then that is where the “well regulated militia” comes in.

          “Well regulated militia” means you, me, our neighbors which includes MANY local, state and federal LE personnel, national guard, guys in charge of the local guard armories, members of the military, etc., WE OUTNUMBER THEM.

          The conflict will be between the recipient class and the productive class.

        • JC

          I disagree with you about fighting for small amounts of anything, the feds have to learn that people are tired of them and their bully tatics. I will take a stand over anything thet involves them entering my house and I hope my neighbors will back me up because that is what will need to eventually happen.

        • micha

          Andy Candy,
          By the time 12 SWATS fully armed in a APC arrive, your fake manhood and stupid bravado will be futile and a waste of time. (like the 6am door kicked in of the guy whose wife didnt pay her student loans?) Where were all you big mouth patriots fighting pre-emptively to stop the fascism it could actually have been nipped in the bud by loud resistance?? Your guns and cowardice now, will be but toys against F16s, Apaches copters, drones, lazers, tazers and sound cannons etc. Then we’ll see the patriots quiver and whimper. The time to fight was when the fight was winnable. Instead we watched TV and NFL.

          • Tretka

            Micha,in the U.S. will to stay free is everything. Don’t under estimate it.

          • Budvar

            Thing is Micha, things like “F16s, Apaches, copters, drones” etc aren’t worth shit when they’re sat on the ground.

          • S

            The SWAT teams and military are citizens too. When SHTF, its a good bet that a lot of them will stand up for what’s right along with the rest of us. They’re not robots.

      • Bill S

        Anybody who sells online keep your customer information for years in case of an IRS audit. I have a small mail order business. I could look up what everyone bought in 2006 and what they paid for it.

    5. Fred H

      Like the local silver coin dealer with thousands of silver eagles wouldn’t turn his head when offered cash? The government is full on morons who couldn’t compete outside of government. I buy ammo,ammo and more ammo to prepare to defend against most.

      • micha

        You’re a stupid fool. thumping your chest. OOOOOOOOOH I bet you scare the USAF to death !!! Good luck against the worlds most sophisticated weaponry and ruthless military. Your bullets will be as peanuts against particle beam glocks and drone strikes.

        • FamilyGuy

          Yup…the high tech military is doing OH SO WELL against a few hundred illiterate peasants in Afghanistan. We’ve spent trillions to fight them, and they are still there and will certainly outlast us as they did to the Russians, and their ancestors did to the British and Alexander The Great. Never underestimate the power of a man who is determined to defend his family and way of life against any odds – in the end, he’ll win because he will NEVER STOP FIGHTING. Mercenaries stop when the paycheck stops or fighting becomes too dangerous.

        • knotjammin2

          Micha, I understand your attitude about foolish chest pounding but don’t ever think that all in the military will defend Obama’s way. The only two things that have stopped confiscation from occurring in the USA is that 75% of the military will not support any operation against the citizens and the fact that the citizens of Gods Greatest Nation possess over eighty million weapons and billions of rounds of ammo. When SHTF, how long do you think it would take to get a few SAM’s out the backdoor of your local armory or that it hasn’t happened already.

          Semper Fi

    6. Gods Creation

      This will drive even more people out of the corp. Hopefully in the not too distant future there will be come positive unintended consequences that will benefit the People. But probably, most sheep will still think of what the Congress does as law. Sheep will never benefit the People.

      It’s all going down anyway. The question is do you want to stay in the corp while it crashes, or get out now while the getting is good.

      • knotjammin2

        We are staying in!! Keep your friends close and your enemies closer!! Someone needs to be on the inside to help pick up the pieces.

        Simper Fi

        • Durango Kidd

          We are the corp! Semper Fi Gyrene!

    7. Sam not sam

      I copy and paste part of my post on a previous thread..

      “I contend that physical fiat is only being maintained to facilitate the day to day life activities of the markets at a local level. The next phase in world currencies can ONLY be digital in nature. In the blink of an eye; a world wide move to a stictly digital currency can be made. The technology is firmly in place today.

      The reasons will be many and will make perfect sense.. reduction of theft, avoidance of taxes, ease of use, reduction in crime, increase and ease of international trade.. the reasons go on and on.

      A digital currency solves many problems.. and by nature, will extend real, absolute control over all transactions and populations.”

      Physical transactions are going to be limited and regulated out of existence.

      • Gods Creation

        Sam, the technology is there to do away with “cash” settlements internationally.

        Some form of physical currency will always be needed at the local level. Cards and accounts can only be issued to those deemed “credit worthy” by the corp. More and more people are losing their credit worthiness along with their jobs.

        You will know we are winning when the local currency is no longer FRNs or other evidence of debt. If the corp loses control of the money people use every day, it loses control of the people forced to use it.

        It’s that simple. The People will only be free when they take control over the money which funds the governments.

        Physical transactions can be only be limited and regulated out of existence in corp matters. When dealing with another Man, it is up to you and them to determine which currency you will use.

        • Sam not sam

          With due respect, I disagree. Transfer of a physical monetary unit will be completly eliminated as a means of absolute control under the guise of eliminating crime, tax evasion and money laundering.

          The Bible is quite clear on the matter; so clear in fact, that it can not be misunderstood. It tells us the end game; we are watching the progression towards that end. That end is not up for debate; only the timing and vehicles which are used to get there.

          • NetRanger

            The Bible is clear, however, if you analyse the language, you’ll find that the mark required to buy or sell is to buy or sell within the system that FedCo or other corporate governments (the beast) establish.

            The system can kiss my hairy white butt. At that point, the only mark I’ll be concerned about is the proof mark near the chamber end of the barrel of my rifle.

        • Durango Kidd

          GC: What would be a local currency that is not an evidence of debt and how would that work within a national or world trading system as many financial transactions are inter state or global in nature?

          I’m curious.

          • onecansay

            That is an easy question to answer.

            “I need your help to plant my garden.”

            “I will help you for one carrot and one cabbage.”

            “Deal.” Handshake which is difficult to show on screen.

            Should you read scripture it is a book that relates to contract law. Decide with whom you desire to contract with.

            The above analogy should give you some indication which parties belong to the contractual obligation.


      • Ben Dover

        Huge opportunity in the black market that will result.

        • Jim

          Someone should make a ” coin ” bay you can plug into an old desk top computer. This computer is $4k and comes with 2 “bays”

      • Public Citizen

        The move to a digital currency will only spawn digital counterfeiters. With the literally millions of attack points created it won’t take the hackers long to figure multiple ways to break into and corrupt the system to the point of failure.
        It will make Zimbabwe look like a friendly game of Monopoly.

      • clark

        Sam not sam wrote, “The next phase in world currencies can ONLY be digital in nature. In the blink of an eye; a world wide move to a stictly digital currency can be made. The technology is firmly in place today.”

        Ah yeah, and then the power goes out… Then what?

        • Plain Old American

          Cold tacos from Taco Bell?

          • Anonymous

            Where’s the beef.

        • Sam not sam

          Not my problem to figure out.. I report, you decide.

          However; emmbedded chips are not tied to the power grid.

          Like it or not, whether it has problems or not; it is coming..

          • Durango Kidd

            Bio Chips have been developed and are being perfected. That doesn’t mean that WE must accept them. Engage your government or be enslaved by it.

            The blood of patriots is the currency of freedom. It always has been and it always will be until Jesus comes.

            Americans must demand their Constitutional rights now, and in the next election. The only way to prevent gridlock is to vote for third party candidates (like the Constitutional party)for office.

            Better yet, RUN for office your self.

        • Tretka

          Sam not Sam,

          Yep. Watch the whole hoopy-doo about Google wallet. Not me…not ever. My assets will not be digitized. Period.

      • Odd Questioner


        Not so sure about that. I still get requests to help fix friends’ computers or cars, help them move, whatever – usually in exchange for a case of beer/soda, a nice dinner for me+missus, etc. I recently borrowed a pickup truck and trailer (to get some furniture) in exchange for a full tank of gas and a tune-up of the guy’s laptop.

        Those kind of transactions will never die, since they’ve been around in the US ever since borrowing someone’s wagon was done in exchange for brushing the horses and a jug of whisky down at the tavern.

        In a tight economy (or when you’re strapped for cash), these things get even more important. I remember a long time ago as a young man, shaving a mountain of money off the rent payment by painting empty apartments in the complex and filling nail holes, fixing minor electrical problems (and appliances), and things like that. I did it nearly everywhere I rent. I even do it now by maintaining the apartment complex’ local wifi server and communal computers (they only had an AP and a couple of open computers before I showed up and pointed out the security problems in doing that).

        …and there are thousands of different instances just like that where you cannot possibly process a debt, or perform a minor transaction through electronic means.

        • HOME SKILLET

          ONE WORD …. BARTERING !!

    8. Harry Bawls

      Another shutdown in government is coming, and right damn soon!

      • Ben Dover

        We can only hope that it is a real shutdown and not a BS deal like in MN.

      • Mr. Blutarsky

        Can we take away politicians salaries, benefits and perks while it is shut down?

    9. Paul Prichard

      “money laundering issues” ?
      $600 from a guy on the street versus Wachovia’s laundering of $378.4 BILLION drug money ?
      That’s 0.0000000015856% – what an absolute load of s**t.

      • silver bean

        EXACTLY, and the bankers get bonuses even though Obummer self righteously condemned them a couple of years ago, but looked the other way a year later. Have any of the big boys been prosecuted and sent to jail? Do us everyday folks think we’ll avoid jail? Hell, look at the Solyndra execs giving Congressional testimony. They pled the 5th, and gave Congress the finger.

        • Anonymous

          The left green finger.

        • onecansay

          “Hope and Change.”

          Fell for that one, did ya’.

          But then maybe next time one will ‘vote'(joke) for the pretty one.


        • Realist

          You guys act like Obama is sloop evil when the congress is controlled by the republicans…who are controlled by the Kock Brothers. Amazingly you cry about the Solyndra thing, but keep quiet about Bush/Cheney’s missing $50 billion in Iraq. Way more money in that one instance than the $500 million in so Hera. Where’s your outrage with Bush/Cheney.

          • Anonymous

            Bush is gone. Give it up….
            Or, are you still crying about FDR, Nixon, and Carter too?

    10. Giurza

      well, as others said – the only answer is the black market… and it pays to know people around.
      some years ago I decided to order a custom made silver ring with emerald. I went to one obscure jeweller in the town and spoke with his secretary, a middle-aged woman. she was very nice, and ring turned out exactly what I wanted, so I kept the contact. I mended broken ring, fixed silver chain few times. and now when I decided to buy little low grade gold as a small backup cash, I went there and spoke to the lady again.
      guess, what, it pays to know people and get in good relations with them 🙂 she offered me to buy gold at the same rate the jeweller was buying from ordinary ppl. so for example you buy gold at pawn shop for around 110lt per gram (that’s around 1434$ per Troy oz) I got a bargain for 70lt per gram (ca 913$ per Troy oz)
      I call it a good deal.

      on a side note, I have a problem and need your help. you all know those magnesium sticks that one uses for starting fires. well, my reserve stick is corroding, and I don’t understand why nor how to stop it. I keep it out of wet, out of sun, so I don’t get it. why is it showing signs of corrosion? it looks like very small bite marks and magnesium turns into dust (probably some kind of magnesium salt/oxide)

      • JJ

        I have no idea—but I do know that I want one more for backup and not one like mine from Coleman…MADE IN CHINA…yes, folks, coleman is using child labor in china.

        • clark

          Most children want to work, especially if it keeps them from starving, JJ.

          • onecansay

            Does your comment not show the sad situation mankind is in.

            One wonders your affiliations and view of mankind!

            Would you be an advocate of the ‘Georgia Guidestones’?


          • clark

            onecansay, working is Not a bad thing.
            Children often love to work, especially if it’s made to be fun.
            Small farms depend on work from children and there is nothing wrong with it.

            In places such as India where the bully will maim a young child to increase charity given by sympathetic tourists, the governments and others tell People Not to give the charity so as to not encourage further maiming.
            A low paying job would be a much better option for them.

            Or would you prefer the theft of redistribution?

        • Durango Kidd

          Clark: the theft of “redistribution” is happening in your working child scenario, and I am not talking about the theft of these kid’s childhood.

          I am talking about the theft of redistribution that has taken place as 42,400 factories were transferred offshore, millions of jobs that were lost in America, and the trillions of dollars of GDP that will never circulate in the American economy again.

          That must be the “redistribution” that you are talking about.

          That is “wealth redistribution” that has gutted the American middle class and destroyed the American economy. All by your gangster bankster, NWO Globalist friends that have encouraged 30 million illegals to invade every nook and cranny in America.

      • BOB

        Magnesium is very reactive with Oxygen in the air. Store in a vacuum or inert gas medium. Keep it away fron Oxygen.

    11. Bob

      For those of you who may be unaware of this, it has already happened in the US complements of the new health care bill. Beginning January 1, 2012, US federal law will require coin and bullion dealers to report to the Internal Revenue Service all gold and silver coin purchases and sales greater than $600. If you don’t believe me, look it up………..and buy your gold and silver before then.

      • Anonymous

        I thought this requirement had been shot down?!?!?!?

      • Ameen

        This was eliminated. Has something changed? I specifically recall reading that this had been killed.

        • admin

          yes, this has been repealed.. http://gata.org/node/10085 …. nonetheless, the fact that they snuck it into the bill is telling.. This particular issues received a huge public outcry and the pressure from small business groups got to be too much, I guess.

        • Tretka

          Nope…Bob is right.

      • Plain Old American

        They were having a sale on it today. 😉

      • Fred

        Just another example of the misinfo posted here.

      • Tretka

        You are correct Bob!!! And hey folks, buy silver, it is a way to save money at the least. Don’t be discouraged. Freedom has to ring somehow.

    12. james02

      The government of France is evil. That’s how I take this.

      • Jim

        Well they did one thing right; they convicted George Soros of a felony – though I don’t think he did any time. Guess he’s too busy sleeping over at the White House.

      • MVP

        No more so than ours in the USA

    13. Puckles

      Steel is hardly a non-ferrous metal. If dealing in stolen copper wire, etc., were really the motivation for this, steel would never have been included in the list. It is far more likely that TPTB are attempting, as usual, to avoid capital flight. That worked really well before. The last time I saw this was in France in 1971. De Gaulle’s economic behavior not only put Nixon in a total bind–it cost him his
      re-election. Diamond prices soared in the meantime, as they are doing today.

    14. MadMarkie

      The world’s economies are being destroyed by design. The PTB want the situation to become so desperate that the ‘sheeple’ beg them to bring into being their coveted one world government; read NWO.

      There is already a mega ‘black economy’ functioning out there. More and more people are deciding to ignore their governments orders, rules and regulations and go their own way. “Welcome to the ‘dark side’ young Skywalker”.

      These are the ‘good-old-days’ that you are presently living in. Enjoy them like there is no tomorrow; largely because there isn’t going to be any tomorrow that you will want to live in.

      God Bless and good luck to all.

      • Brushman

        Aye, i often remark to family these are the good times enjoy them while they last.

    15. dan

      as money leaves and becomes electronic so goes our freedom…you will stand alone at your doorstep…but if you take 1-2 with you ,they will run out….freedom is not cheap…slavery is…

    16. piccolo pete

      daily purchase of necessities of life require local paper currencies. Always hold some for quick and easy transactions.
      The amount is up to you !

    17. durango kidd

      Mad Markie: And the NWO Globalists are trying to sell US that design as a FREEDOM. It is a system design to make US economic serfs and draain the wealth of the middle class.

      Its called FREE TRADE. It is neither “free” nor “fair”. It is managed trade. Managed by the GB’s, for the GB’s and the PTB under crony capitalism. Then their shills, like LEW ROCKWELL try to push it to US as a FREEDOM. It is propaganda.


      • clark

        DK, you are so lost, twisted and bent out of shape. It’s a good thing the young People are shaping the future.

        • Plain Old American

          Both of you stay and argue. I enjoy the banter and then check things fer myself.

          DK, have you ever read any of Pat Buchanan’s works. He was the OG, er, my bad, original freetrader under Reagan. He has made same very interesting arguments against the so called free trade policies. His article on VAT tax is very informative.

          Clark, you assert that our trade deficit w/ the ChiComs is not a a huge factor when viewed in comparison with the US GDP. Have you considered a diiference between that portion of GDP from wealth creation (manufacturing, agriculture, adding value, etc) and that portion that is the parasites sucking the blood from the economy, ie: loan origination fees, warehouse fees, points etc. ?

          Umair Haque makes a reference to this distinction in the GDP. I ordered his book but haven’t got it yet.

        • Durango Kidd

          Clar: Lew Rockwell is a NWO Globalist trying to sell Americans FREE TRADE as a FREEDOM when We know that it is a demonic economic system of MANAGED TRADE designed to enrich the uber rich.

          Lew disguises himself as a Liberatian because Americans believe in mom, apple pie, God, and FREEDOM. So me mixes a lie with a lot of truth to sell US a FREEDOM that doesn’t exist. FREE TRADE is neither FREE or FAIR.

          LOU is a FUCKING LIAR!

        • Durango Kidd

          Clark: Yes the young people ARE shaping the future. And they are the college grads I see around me everyday in the library pursuing their passion in Science, Math, History, and Economics.

          They will be shaping the future of America as professionals and managers.

          You will be still be sitting on your hands in your mother’s basement catching farts and working you game boy with a free hand. What a master multitasker! 🙂

    18. Death N Taxes

      Gold and silver will be the only bubbles left for TPTB to inflate in order to destroy the accumulated wealth of the less wealthy.

      I believe that they too will rise in value and then fall with the introduction of a post-collapse currency note or by federally backed laws designed to facilitate confiscation.

      I will sell my remaining 8 ounces of gold when I think it’s at it it’s peak and society is about to plunge & invest the profit in power generation and ammunition.

      • Bill S

        I believe that the world will go back to the gold standard. That’s why central banks around the world are buying gold.

        • sixpack6t9

          …or just to keep it out of the hands of the likes of US…

    19. Richardo

      The new French law is following the path of the US in 1934. …Leading to the abolishion of the right to buy gold or silver. And is a precursor of the confiscation of privately held gold.

      The translation from the French law is abominable & totally unacceptable for public consumption. It is the worst translation I have ever seen.

      • admin

        Richardo, i am happy to post a human-edited translation…. I had to go with google translate on this as I do not have access to a French translator on short notice, but i think it got the necessary point across. Thanks. -Mac

    20. fred

      If some people were not so damned smart we wouldn’t have all these problems. Geese eat grass and can fly away. What a life. Geese can swim and migrate to warmer weather and their airline ticket is free. Rain and cold weather does not bother them. Geese need no shelter. The best thing about geese is that they can shit on us and get away with it. Geese can even take an airliner out as evidenced by the Hudson river passenger plane crash. Geese all look the same and talk the same depending on the variety of geese. Man is constantly trying to be the opposite of geese. Why is that? Next time you see a goose know that he can poop where ever it wants. Can you? That is total freedom.

      • Plain Old American

        Uh, when I fly there usually isn’t anyone with a 12 gauge loaded with 3 and a half inch magnums shooting at my big arse.

        Um, goose tasty. POA, er, not so much.

        • Anonymous

          They have that free GPS thing going on too without the display in their windshield. I hear they get to mate for life.

    21. Starshine

      I called my gold company with whom I have done business in the past. They now will only accept a wire transfer from your bank, then they will order your gold. She sais this was due to people calling in and placing a buy, then canceling. Did not make sense to me. I purchased gold with my credit card in the past. I am going to call other companies.

      • MSPA

        APMEX.com takes credit cards (at a higher price) and also quotes buy as well as sell price.

    22. freelance100

      It’sn not crony capitalism, it”s CRONY FASCISM

    23. anish poojara

      This shows the desperation that is setting in governments around the world. Either silver and gold have to fall by 50% OR DOUBLE. I would bet more on the double.

    24. Southern Trumpet

      I think that many of the restrictions being place on the precious metals by TPTB are to prevent capital flight and taxability (capital gains)

    25. Anonymous

      Anybody that thinks that this administration, which has bailed out the banks has “stabilized” this country or other countries, is innocent or naive. This can of peas (with a string on it) has been kicked down the empty supermarket aisle. Don’t chase after it.

    26. Hermes

      I haven’t actually bought precious metals in a bit as I’ve been waiting for a price dip like we now have. Before finding my BADASS local coin dealer I had used APMEX and another small coin dealer in Baton Rouge. APMEX seemed to have the best prices in comparison to most of the others online. The fellow in Baton Rouge was charging similar prices on his junk as could be found on APMEX, however he also was charging sales tax on my purchases (9% local), which severely cuts into one’s profit margins.

      Fastforward a few months and I find a guy much about a 1/4 of the distance away who was charging considerably lower rates on Junk silver AND he didn’t charge sales tax on these exchanges, which in my opinion is the way it should be given that we were exchanging money for money.

      So the question I have is: How many here are charged sales tax on precious metal purchases?

      Obviously it makes necessary an appreciation of value equivalent to the sales tax rate to just break even on paper, much less after travel costs, potential sub-spot prices paid by dealer, etc…

      That is simply unnacceptable.

    27. onecansay

      How many have seen Ron Paul ask Ben (Shalom)Bernanke what gold is?

      Some believe it is money! Ron Paul does.

      Ben (Shalom) Bernanke says gold is an asset.

      Well, money (fake), can be traded and taxation falls under certain rules.

      Well, gold (real), can be taxed BECAUSE the laws have deemed it an ‘asset’. You heard BSB say it! Your home is an asset, your vehicle is an asset and on and on.

      Getting the picture yet. THEY have made PM’s an asset for US but ‘money’ for THEM.

      I once heard that “He whom holds the gold pays the debt.”

      Still trying to wrap my head around just what that “debt” may really be. I do have some ideas though.


    28. Jerryaci

      Article 1 – Section 10 USC
      NO State shall..”make any Thing but gold adn silver Coin a Tender in Payment of Debt”.
      “To preserve our independence, we must not let our rulers load us with perpetual debt…I am for a government rigorously frugal and simple.” Thomas Jefferson.
      16 Am Jur 2nd Sec 177, late Am Jur 2d See 256
      “The general rule is that an unconstitutional statute, though having the form and (color) and name of law, is in reality no law, but is wholly void and ineffective for any purpose; since its unconstitutionality dates from the time of its enactment…in legal contemplation it is as operative as if it had never been passed…Since an unconstitutional law is void…

      • sixpack6t9

        I read once about a man who paid his workers their wages in silver and gold coins. The IRS tried to prosecute him for tax evasion because he had paid using the coins face value, avoiding paying the taxes on their “asset” worth —the IRS LOST. The decision was that ALL U..S. coins are to be spent AT FACE VALUE, so a silver dollar is only a dollar for tax purposes…not the value of a 1964 Kennedy silver dollar, for instance….or the gold coins for that matter. Anyone else remember that, I think the name was “Kaer” or something like that.


    29. Anonymous

      >>According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc.<<

      I guess the rumor is true, corrupt thieving criminal syndicates (i.e. governments) don't like competition.

    30. Joe

      Guys remember the 3 G’s. Gold, Guns, Groceries and Bullets for Barter. Keep a passport and learn a new language. Another country may be better than fascist Amerika. Lie low and stay amall. When the shit hits, have a escape plan. Rural area where farming and guns are the law may be an option.

    31. Joerocker

      Gold and Silver are on sale now!
      this is a great chance to get PM’s on sale!

      I like lead too…

    32. TotalCollapse

      Soon they will ban gold and silver sales altogether…this is just a stepping stone, to stop all sales….

    33. Elwyn Jones

      When I first started working in the UK about 40 years ago; it was ILLEGAL to pay an employee by Cheque or Bank Transfer – only CASH was acceptable as Legal Tender. (It was however possible to get around this law by seeking the Employee’s consent.) – My how Bush’s “War on Terror” has changed things!

    34. Backwater

      Lots of dealers out of stock on silver. Physical supply does not match the paper.

    35. Backwater

      Judging by the response of some of these dirtbags on this site…why do you bother to moderate?

    36. goin with gods plan

      The end is near! God is going to do away with this troubled world and institute his new world! Read matthew chapter 24 verses 1 through 51 revelation chapter 18 verses 15 through 24 and revelation 21 1 through 6 you see god is going to remove this corrupt and sick world! Guns.gold,ammo,groceries are ok to have but only provide false securities! Some of us were born with silver spoons in our hands and the rest of us with nothing but in the end we are all going to leave this world with nothing! Love one another and invest in god its the best divedend payment out there!

    37. Bill S

      It could be related more to collecting income taxes from people who make money buying and selling gold and silver.

    38. Dave

      7 Million ounces of silver fond at the bottom of the sea off Ireland? I wonder if the British gov knew what was on board this torpedoed WW2 sub before setting out to find it!

      Jamie Dimon must be scheming as I type this, on how to get his hands on that! Lord knows he needs it! May JPM’s days be numbered, if there is God!


    39. J West

      Sorry guys, here is a better link http://www.scgov.net/documents/09162011SecondHandDealersOrdinance.pdf

      Florida is much much worse than France. So the land of the free, huh, seems you are a criminal until you prove otherwise to the real criminals.


      AND this,

      Method of Payment.
      (1) A Secondhand Dealer or Secondary Metals Recycler shall not enter into any singular or
      aggregate cash transaction(s) in excess of $100 from any Seller in any given day. Payment in
      excess of $100 for any Transaction shall be made by check issued and payable to the Seller.
      (2) A Secondary Metals Recycler shall not enter into any cash transaction for the purchase of
      any Restricted Regulated Metals.
      (3) Payment by any Secondary Metals Recycler for the purchase of Restricted Regulated Metals
      shall be made by check issued and payable to the Seller or by electronic payment to the Seller’s
      or Seller’s employer’s bank account.
      (4) Each check for payment for Restricted Regulated Metals shall be mailed by the Secondary
      Metals Recycler directly to the current street address of the Seller or Seller’s employer as
      provided by the Seller at the time of the Transaction. No payments shall be mailed to any post
      office box. Electronic payments shall be sent to a bank account for which the Seller is listed as
      an account holder or an employee or agent thereof.

      • sixpack6t9

        In OREGON, you take your ID and metal in, they MAIL you a check for it after it “clears”…whatever THAT means…

    40. SpaceX

      Some think we’re in Afganistsn to protect the rare earth element(REE) mineral deposits, which are critical to military hardware and consumer electronics. The Chinese have cornered 97 percent of the world’s supply of rare earths, while we were sleeping, and are now raising the prices and limiting availability to others.

    41. Mong0Lloyd

      The U.S. Armed Forces aren’t fit to lick the boots of the 1989 Romanian Army. The Romanian Army dared to do the right thing in a critical hour and truly became the People’s Army.

      When Ceauscescu sent the Army out to squash a rebellion, they came, they saw, they heard, then they turned their tanks around and went to Ceauscescu and greased HIM! THAT is what a real army does. The U.S. Armed Forces serve the banksters. Period. I DO NOT SUPPORT THE TROOPS… EVER!

      NOT until I see them stick their necks out like the Romanian Army did. In the face of an entrenched communist dictator no less! And become We The People’s Army when the time comes. Not only grease Washington, but level K-Street, and nuke Wall Street into oblivion. Bomb all branches of the Fed, while they’re at it. And spend the next 50 years tracking down the Elites and their various helpers. ALL of them including their relatives out to the fourth generation. They are a cancer that must be eradicated, no matter where they hide or what it costs.

    42. POINT-MAN

      I enjoy all of postings on this subject , however it should be clear to everyone that the bottom line is there are to many people on this planet consuming every resource at a un sustainable rate . The planet has more have nots then the haves can support . In the past the herd was thinned out by war , disease , famine and natural disasters. As you know there is THE GUIDE STONES in GA. that suggest the Elites only require a global population of 500 million to serve their needs . So how do you eliminate the other 6 billion without harming the planet? Would any like to comment ? I will share my thoughts if anyone responds .

    43. Jill67

      All you have to do in such a case is show us a statement that you have used our system based on suggested settings in a live or demo account for not fewer than 20 days.

    44. Chris

      I still think that bullion will have a bounce back period where silver is back to trading around 40 dollars.

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