Tuesday, September 11, 2012

Spaniards Turn to Gold

"... in Spain, there are no special taxes or levies specific to the resale of gold bullion. There is thus great potential for gold (and silver) to become a money substitute among the population."

Spaniards may solve their country's euro debt crisis themselves by moving their euro deposits outside Spain, as is their right, and/or investing in a new (but actually old) medium of exchange--Gold. The Spanish government may find itself unfunded by its own people and no amount of increasingly debased euro loans from the ECB will save it. Could this be the ultimate solution to the profligacy of governments; i.e., that the people find innovative ways to keep their wealth out of government hands and the welfare state collapses?

Read the full article: As the Euro Tumbles Spaniards Look to Gold

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