Sat Mar 23, 2024 11:33 pm by globalturbo
The World’s Biggest Gold Storage Company Is Now Turning Away American Clients
Posted on February 24, 2013 by END TIME HEADLINES
ViaMat, a Swiss logistics company that has been safeguarding precious
metals since 1945, is literally the gold standard in secure storage
. They
have vaults from Switzerland to Hong Kong to Dubai, and they count
among their clients some of the largest mining companies in the world.
They know what they’re doing. And now they’re dumping US citizens.
ViaMat does a great deal of business within the United States. As such,
the company is heavily exposed to the insane US regulatory environment.
As an example, the 2010 Foreign Account Tax Compliance Act turned
into more than 500 pages of regulation! The costs and risks associated
with compliance simply became too much for ViaMat to bear.
This matter-of-fact letter from ViaMat management explains their decision:
“We are currently experiencing rapid and substantial changes in the
general regulations within this business. The changes mainly relate to
the tax structures and taxation systems of various countries. As a
consequence of these changes VIA MAT INTERNATIONAL has taken the
decision to stop offering this service at its vault [sic] outside of the
US to private customers with potential US-tax liability.”
This is huge. I can’t possibly overstate the potential ramifications.
For one, the big gold depositories like Gold Money and Bullion Vault
ALL use ViaMat as a primary secure storage provider. So it’s only a
matter of time before ViaMat’s decision cascades across these other
firms.
I have written extensively about this to subscribers of our premium
service, Sovereign Man: Confidential; most gold storage firms are all
essentially different varieties of the exact same product. They are
retail marketing channels that ultimately use ViaMat to store their gold
bars. If ViaMat has US exposure, THEY have US exposure. It’s the same
risk.
Now, if you’re in the United States in particular, one of the most important (and cost effective) steps you can take in international diversification is to store precious metals overseas.
Gold remains the most effective ‘anti-currency’ out there, a bet
against a corrupt financial system and debt-laden sovereign governments.
But remember– governments have an unblemished track record of
plundering their citizens’ wealth. So if you store your gold in the US,
you might as well ask Barack Obama to keep it under his mattress.
If history is any guide, storing gold abroad is critical. And it’s
one of those things that you won’t be worse off for doing. The thing is,
it’s equally critical to work with a service provider that has no US
exposure. There are very few options out there. Again, most of the big
boys use ViaMat, which has heavy US exposure. Or Brinks, which is a US
company.
For nearly a year, I’ve been encouraging our premium subscribers to
store their gold with a Singapore-based company that has the most
advanced, transparent operation on the planet.
They are 100% Singaporean, and their US regulatory exposure is
effectively zero. They’re also one of the only firms on the planet that
actually tests the gold it sells (and stores) through three different
methods, including X-ray and ultrasound. This way you know that your
gold is, in fact, gold… and not tungsten.
Best of all, they’re launching a new service to receive your
existing gold at their facilities in Singapore. So if you’ve just been
shut out of ViaMat, or you want to transfer your gold from another
facility that has heavy US exposure, these guys will be able to do it.
They are, without a doubt, the best solution out there. And
Sovereign Man: Confidential members have received unprecedented
discounts and exclusive access to new services offered by this firm.
Storing gold overseas makes sense no matter what happens. And it’s critical to choose a reputable partner with no US exposure. SOURCE
Thanks to: http://endtimeheadlines.wordpress.com
Posted on February 24, 2013 by END TIME HEADLINES
ViaMat, a Swiss logistics company that has been safeguarding precious
metals since 1945, is literally the gold standard in secure storage
. Theyhave vaults from Switzerland to Hong Kong to Dubai, and they count
among their clients some of the largest mining companies in the world.
They know what they’re doing. And now they’re dumping US citizens.
ViaMat does a great deal of business within the United States. As such,
the company is heavily exposed to the insane US regulatory environment.
As an example, the 2010 Foreign Account Tax Compliance Act turned
into more than 500 pages of regulation! The costs and risks associated
with compliance simply became too much for ViaMat to bear.
This matter-of-fact letter from ViaMat management explains their decision:
“We are currently experiencing rapid and substantial changes in the
general regulations within this business. The changes mainly relate to
the tax structures and taxation systems of various countries. As a
consequence of these changes VIA MAT INTERNATIONAL has taken the
decision to stop offering this service at its vault [sic] outside of the
US to private customers with potential
US-tax liability.”This is huge. I can’t possibly overstate the potential ramifications.
For one, the big gold depositories like Gold Money and Bullion Vault
ALL use ViaMat as a primary secure storage provider. So it’s only a
matter of time before ViaMat’s decision cascades across these other
firms.
I have written extensively about this to subscribers of our premium
service, Sovereign Man: Confidential; most gold storage firms are all
essentially different varieties of the exact same product. They are
retail marketing channels that ultimately use ViaMat to store their gold
bars. If ViaMat has US exposure, THEY have US exposure. It’s the same
risk.
Now, if you’re in the United States in particular, one of the most important (and cost effective
) steps you can take in international diversification is to store precious metals overseas.Gold remains the most effective ‘anti-currency’ out there, a bet
against a corrupt financial system and debt-laden sovereign governments.
But remember– governments have an unblemished track record of
plundering their citizens’ wealth. So if you store your gold in the US,
you might as well ask Barack Obama to keep it under his mattress.
If history is any guide, storing gold abroad is critical. And it’s
one of those things that you won’t be worse off for doing. The thing is,
it’s equally critical to work with a service provider that has no US
exposure. There are very few options out there. Again, most of the big
boys use ViaMat, which has heavy US exposure. Or Brinks, which is a US
company.
For nearly a year, I’ve been encouraging our premium subscribers to
store their gold with a Singapore-based company that has the most
advanced, transparent operation on the planet.
They are 100% Singaporean, and their US regulatory exposure is
effectively zero. They’re also one of the only firms on the planet that
actually tests the gold it sells (and stores) through three different
methods, including X-ray and ultrasound. This way you know that your
gold is, in fact, gold… and not tungsten.
Best of all, they’re launching a new service to receive your
existing gold at their facilities in Singapore. So if you’ve just been
shut out of ViaMat, or you want to transfer your gold from another
facility that has heavy US exposure, these guys will be able to do it.
They are, without a doubt, the best solution out there. And
Sovereign Man: Confidential members have received unprecedented
discounts and exclusive access to new services offered by this firm.
Storing gold overseas makes sense no matter what happens. And it’s critical to choose a reputable partner with no US exposure. SOURCE
Thanks to: http://endtimeheadlines.wordpress.com
