The well known offshore economist Doug Casey discovered some new and disturbing things lately while travelling throughout the boundaries of South and Central America. In fact, what occurred during his trips through customs in a number of countries appears to be a growing trend for anyone who might be needing to travel with their wealth on their persons if stored in the form of gold and silver coins.
These events that Casey shared on in his most recent publication are in regards to what appears to now be de facto capital controls that mandate officials not only question, but also investigate anyone carrying physical gold and silver on their person, or in their luggage when they cross over from one country into another.
It’s well-known that you have to make a declaration if you physically transport $10,000 or more in cash or monetary instruments in or out of the US, or almost any other country; governments collude on these things, often informally.
Gold has always been in something of a twilight zone in that regard. It’s no longer officially considered money. So it’s usually regarded as just a commodity, like copper, lead, or zinc, for these purposes. The one-ounce Canadian Maple Leaf and US Eagle both say they’re worth $50 of currency.
But I’ve recently had some disturbing experiences crossing borders with coins. Of course, crossing any national border is potentially disturbing at any time. You might find yourself interrogated, strip searched, or detained for any reason or no reason. But I suspect what happened to me in three of the last four borders I crossed could be a straw in the wind.
When I left Chile a couple of months ago, the person monitoring the X-ray machine stopped me and insisted I take them out and show them to her. This had never happened before, but I wrote it off to chance. Then, when I was leaving Argentina a few weeks later, the same thing happened. What was really unusual was that the inspector looked at them, took them back to his supervisor, and then asked if I had any gold coins. I didn’t, he smiled, and I went on.
What really got my attention was a few weeks later when I was leaving Mauritania, one of the world’s more backward countries. Here, I was also questioned about the silver coins. A supervisor was again called over and asked me whether I had any gold coins. Clearly, something was up.
I haven’t seen any official statements about the movement of gold coins, but it seems probable that governments are spreading word to their minions. – International Man
Since the world as a whole left the gold standard in 1971, physical gold and silver has lost most of its recognition as a form of money in the eyes of around 80% of the world’s population. Only in regional areas like India, China, and perhaps Mexico do the metals represent real money and wealth, and those who are collecting (stacking) it today are those who have not only lost confidence in the global paper fiat currency system, but who believe that it is inevitable that a return to a metal based monetary system is coming very soon.
Many countries, including the United States, have a history of confiscating, or at the very least restricting the ownership of gold and silver by their populace to protect a paper currency fiat system. And with economic conditions matastasizing towards a collapse, or at the very least severe financial pain, it is vital for everyone to not only have ownership of physical metals in their possession, but to also have some stored offshore where you can access them at anytime, and have it protected from draconian government regulation or other forms of capital controls.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.