I have been warning that the 2010 Foreign Account Tax Compliance Act that has turned into more than 500 pages of regulation and is causing a massive economic global contraction in the velocity of money, is also responsible for gold sales of late. As reported, even Switzerland has been forced to sign away its personal rights and freedoms to the United States.
Americans have been thrown out of banks, mutual funds, safety deposit boxes, and yes – even gold storage. The USA has targeted gold refiners ordering them to now report the movement of gold. This includes gold shipped to the USA to be refined and shipped back out of the country. There is no privacy left standing. All that may be left is the sock drawer.
