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World's Biggest Gold Storage Company Dumps US Citizens

RED ALERT: World’s biggest gold storage company dumps US citizens
by Simon Black of Sovereign Man blog - 2-22-13

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.”

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Uh-Oh...One more nail.

As Dr. Paul has said in many of his speeches, when the empire finally goes into collapse, it will happen too rapidly for anyone to stop it.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

robot999's picture

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Yipee...one more nail! We're that much closer to Liberty for ALL.

"Government is the entertainment division of the military-industrial complex". - Frank Zappa

or the opposite...

cross your fingers, work for and hope for the best.

Assuming that anything

Assuming that anything regarding gold has been heavily regulated to give the federal government an advantage and full control, I can only surmise that the government wants to drive these fellas out of business and/or wants to make it less atttractive to use their services.

Perhaps they think that if they make it difficult for gold storage companies to do business, they will pass the extra cost due to regulations on to consumers, making it less attractive to use the services of these companies. As a result, it may stabilize gold prices, because people are less inclined to buy large amounts of gold. If people don't have a secure storage to store their gold or the prices are simply too high, they will be forced to buy less (buying too much with no secure storage is too much of a risk) and use less secure storage as well, making it easier for the government to steal the gold.

SteveMT's picture

Like owning guns or

Like owning guns or expatriating, owning gold is frowned upon by the bankers/government.

This is expected.

Many banks abroad began refusing deposit service to US citizens for the same reason. Banks is a more of concern to an average American who travels. Swiss gold deposits and other investments were already limited to minimum of $500,000 for US citizens.

I'm reading this thread when my husband calls.

Someone he turned on to silver at work was telling him they tried to pick up $15 face "junk silver today. The first place he stopped did not have enough, so he went to the next place and they gave them to him in wrappers. Now, to their credit, they did invite him to open them, which he did, and found copper coins in both.
I'm not saying the dealer was ripping him off, but I am saying it could have easily been a rip off. This was a local dealer that the guy trusted and frequents.
Stay on your toes, its getting ugly.

Love or fear? Choose again with every breath.

SteveMT's picture

Who knows what is real anymore.

Silver and gold Eagles are the most trusted coins, but our government produces them. What if they are not what we think they are? Independent people must test one routinely just to ensure they are what they say. Hope so, anyway. It's much harder to forge a coin than a bar. Ruthless people are capable of anything.

welcome to stupid(stupid) USA

well that what happens when we elect idiots and cunts into office. our Politicians are so old fashion they have no clue how the real world works.

here maybe one of them is reading this.... LEAVE US ALONE!!!

Company provides big holes with locking doors...

U.S. govt regulations 500 pages long make it impossible for them to provide these big holes with locking doors at a profit.

Am I understanding this insanity correctly or could someone else explain it better? In 100,000 words or less?

Defeat the panda-industrial complex

I am dusk icon. anagram me.

Bump for discussion...

Ideas on what this means in the near term?

I'm a serial entrepreneur and liberty activist from Texas!