All Your Money Are Belong To Us!
Posted on 08/01/2022 10:20:12 AM PDT by delta7
COMMENT: Dear Marty, I was trying to wire money from my bank account in Italy to the one in the UK, just to realise that I can no longer transfer more than 6,000EUR per month. The Soviet EUSSR is in full capital controls mode. I am missing the beauty of Italy every day, but I am so glad to live in Brexit UK. Good luck to the old continent.
REPLY: I warned that all my sources were confirming, three very high up, that Europe would quietly impose capital controls on June 30, 2020. That has now taken shape. Europeans and not allowed to send more than 6,000 euros per month to another account outside the EU. Capital has been pouring out of Europe, and they beat not just the war drums but also the Green drums that forewarn of a severe economic decline for Europe.
Even in the United States, we have capital controls in place for a different reason — taxation. You will find it limited to try to wire more than $3,000 to an individual outside the United States. As I reported before, a friend in Singapore found me a service apartment and put down the first month’s rent for me. I sent him a wire, but when I got there, he said he never got it. I called my bank to put a trace on it, and HSBC returned it, saying they would not credit it to that account because they could not verify it was not secretly for me. I had to write him a check. You can wire to a business without a problem, but not to an individual. The hunt for taxes lives.
….. This is what Schwab’s entire WEF is about. His Great Reset is because socialism is collapsing. I did our Solution Conference in 2015 because I knew what he was advising to world governments. The problem was that his way is that they become dictators, and he is even ending your right to vote. While they call Putin authoritarian, the head of the EU also does not stand for election. They are appointed by EU member politicians. This is what they want — ZERO right of the people to vote. They intend to control what we buy, where we live, and what we are allowed to say. So you can see, in my Solution, we retained democracy, so they were not handed ultimate power. Capital controls are part of this plot to end our freedom.
“The EU ( and the West) is broke.”
Okay, and now tell me where in Russia you have to go to redeem your “gold-backed” rubles for actual gold?
Hint: They’re not backed by gold if you can’t ever get the gold.
china has bigger capital controls.
but they are not considered to be broke.
not sure that I understand what the meaning of is is.
I think they want to get rid of cash.
We don’t need to own anything, right?
I don’t see it so much as a tax issue. I think it’s mostly just control.
Capital controls are indeed a sign of government "brokeness." but more importantly, its a basic freedom issue - its YOUR money, your property. You earned it, you paid taxes on it. Now government wants to steal it by forcing you to keep it their own printed fiat money which they have destroyed with stupid political schemes, inflation and debt.
“Not sure that I understand what the meaning of is is.”
Comrade “delta7” is trying to promote the impression of equivalence between the financial condition of the West and Russia, in light of Russia’s draconian capital controls, that it imposed to stabilize the ruble, after they invaded the Ukraine.
It is simply a bogus analogy - you can still close out an Italian bank account and transfer all the money into British Pounds in a UK bank.
Note that no one else is reporting capital controls in the EU (Google it, I did).
This is just total BS.
A little at a time and before long the collectivity will control all property, all money. Gonna take a few years to get there, so the folks don’t notice, and don’t squawk.
You can do anything to the folks, as long as you give what you’re doing a nice name and tell them everything is all right and it’s not Cyprus in 2013.
All Your Money Are Belong To Us!
THIS is what BitCoin was created for...
Okay, and now tell me where in Russia you have to go to redeem your “gold-backed” rubles for actual gold?
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Any Russian bank ( and Chinese) sell gold, walk in, pay up and walk out with your gold in hand.
Ever wonder why no US or western bank ( Swiss excluded) sells any gold, not even US gold Eagles?
I will leave you with that thought to think about.
http://buying-gold.goldprice.org/2012/09/buy-gold-in-russia.html
“ To buy gold in Russia one can simply go to a Russian bank and buy investment gold coins. Russian banks are selling investment gold coins the appeal of which is due to the exemption of VAT on the coins and no import duty.
According to the World Gold Council in their recent 2012 report, the two main forms of gold investment in Russia are physical bullion such as gold coins and gold bars, and unallocated gold accounts. The Sberbank of Russia is probably the most dominant bank offering unallocated Metal Accounts but as one does not have actual ownership of the gold in these accounts but simply ‘share’ the gold, this is not recommended as banks and governments have a habit of using the assets of others in times of need. Better to actually have and hold the gold you buy.
Buying real gold bullion in Russia is recommended as Russia has a healthy gold production, with 8 percent of the world’s gold mine production and Russian gold demand remains strong at an annual growth rate of almost 35 percent.
In 2011, Russia had total gold reserves of 5000 tonnes and this seems set to increase.
Most of Russian gold comes from the regions of Amur, Irkutsk, Khabarovsk, Kransnoyyarst, Magadan and Sakha-Yakutia. The largest Russian Gold producer is Polyus Gold International (Polyus) and 9th largest in the world. Other big producers are Polymetal Kinross Gold Corp. Petropavlovsk plc and High River Gold and GV Gold. The 4 largest gold mines in Russia produce nearly 40% of the annual Russian gold production.
For the past three years Russia has also been buying gold at a rate of 10.2 tonnes per month. This is an incredible amount of gold and gives rise to speculation that Russia is thinking in terms of gold being used to back its currency.
In fact, Russia has also been a proponent of gold being included in a new world currency basket based on special drawing rights issued by the IMF. Alexei Ulyukayev, CBRs first Deputy Chairman not long ago stated that “for Russia gold will always be a natural quality asset.”Bloomberg 3rd March 2010. And this is demonstrated with the CBR (Central Bank of Russia) showing a preference for gold in the management of its reserves. Gold as a component of Russia’s reserves was equal in 2003, then steadily dropped to a low point in 2008 and has since been on a heavy the rise again.
Russian demand for gold jewelry continues to grow at about 8.7 percent per annum as it has over the past ten years and in 2011 rose 16.3 percent, reaching 76.7 tonnes. Russia is now the forth largest gold jewelery consumer behind India, China and the US.
As the Russian economy continues to grow at almost 4 percent a year we can expect to see more people buying gold and increased demand in investment gold.”
Yeah right. Once bitcoin was at $64k, but then it dropped to below $19k. Hopefully the bitcoin was not mailed.
BC is designed for COVERT transactions, not an investment
let’s say i want to but a widget for $10,000
the day i buy the widget, i buy $10,000 worth of BC and immediately transfer it to the widget seller who transfers it back into cash same day
the going price of the BC is immaterial
Redeeming your currency for gold is not the same as buying gold. The world has been off the gold standard for so long that I can appreciate that you do not understand the difference here. But do please educate yourself about it as it does make a significant difference.
Redeeming your currency for gold is not the same as buying gold
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Still trying to figure your “ reasoning “ out till I think what Vlad just did. His Central Bank will take Rubles, or gold for their oil, energy, food, and commodities.
The fact gold is now buying commodities, food, fertilizer, metals, etc, clearly shows paper money which is backed by nothing is losing to paper money which is backed by “ things”, oil, NG, food, metals, commodities.
Stay tuned, the Chinese Yuan is in process of backing it up by gold holdings….
Vlad ( and Xi) say Checkmate again.
When a currency is backed by gold then the amount of gold that currency is worth never fluctuates. When you buy gold the amount of currency it takes to buy a set amount of gold fluctuates on a daily basis.
That is the difference.
Thanks, however, gold backed currency requires more gold to be produced and held before increasing the printing presses….resulting in no inflation, no debasement of said currency, no debt. Inflation is a phenomenon only because currencies increased their printing with nothing to back it, be it gold, commodities, food, “things”. ..many legendary financial greats are sounding the alarm - the future reserve currency now MUSt be backed by something, gold, food, commodities, energy.
That is all true. However for a true gold backed currency you have to be able to exchange your currency for the corresponding amount of gold without paying any premium or taxes like you would for a purchase.
We can never have a true gold backed currency, there is not enough gold. The world (by a few noted greats) has a whopping $ 350 trillion of debt. The debt has to be a Biblical Shemita, negated or released or forgiven to avert global crash. There is not enough gold on Earth to back the debt. A few countries could conceivabley back their currency by gold ( or food, commodities), China and Russia are trying.
That said, you are correct, no universal true can ever be had at this time.
The irony is that democracy is the fastest and surest way to bankruptcy among any system of governance.
The irony is that democracy is the fastest and surest way to bankruptcy among any system of governance.
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Not true, our Founding Fathers defined our currency specifically, in gold or silver.
The constitution in Article I, section 10 reads “No state shall...coin money, emit bills of credit, make any thing but gold and silver a tender in payment of debts...”
We departed from their word, much to our demise.
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