Buying gold anonymously after January 2020 – what is actually happening here?

Apparently the Federal Government wants to abolish the anonymous purchase of gold; and to this end the anonymity limit is being reduced from €10,000 to €2,000 from 10 January 2020. This is coming dangerously close to a ban on buying gold anonymously. What lies behind this, and what hidden connections should we assume exist here?

The Federal Government argues that the law is being changed to combat terrorism and money laundering, but they provide no proof of how and to what extent purchasing precious metals plays a role in the criminal environment (or if it does at all). In fact, this puts every precious metal investor under general suspicion. . Buying gold is being characterized as a shady transaction, and everyone who simply wishes to diversify their asset portfolio will be watched more intensely by the government than people who do not own any gold.

And this is happening despite the fact that gold has been traded as a secure and serious financial investment for many centuries. So why does the government want to know who has gold reserves in their safe? The answer should deeply unsettle every citizen, because ultimately this enables the government to exercise more control over the individual citizen; for the same reason, of course, cash should also be abolished at times. Gold and articles similar to gold mean freedom, and enable the unimpeded free development of the individual; apparently characteristics which the government of the modern Federal Republic of Germany no longer wishes its citizens to possess.

Another backdrop, which admittedly is more difficult to imagine, is the possibility of expropriation. If the government should find itself in (even) greater financial difficulties, it could draw on the citizens’ gold and gold reserves to pay off the national debt (or the interest). To be able to do this, naturally the government needs to know where the material is, hence this change in the law.

It remains to be seen whether this will actually happen, but everyone should give some critical though to the functions money fulfils in society, and how they can enjoy and increase their hard-earned money in the future too. Gold is, and will remain, an extremely important factor in every investment portfolio. It has just been made somewhat more difficult for us to invest sensibly, and we have lost a further small part of our freedom.

The fact is that if you wish to invest in gold anonymously, you need to sort this out by the deadline of 10 January 2020.

I would be interested to hear your opinion of this change in the law. What should we expect, and where will this journey take us? Am I too alarmist, or do you also regard the development of financial policy as difficult or alarming?

Simply leave a comment underneath this article – I am looking forward to a lively exchange.

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