France Bans Cash Sales of Gold/Silver over $600

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PostTue Sep 27, 2011 12:22 pm » by Synkronizer

"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...."

Apparently governments want to make large physical gold purchases traceable, hence the ban on gold for money transactions.

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