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Canada crackdown on Gold Economy
By admin | June 7, 2008
This is interesting. It’s from the Toronto Globe and Mail. Think about the second paragraph:
Canada’s financial intelligence agency warns that criminals may be exploiting Internet-based companies that convert cash into electronic gold, exposing a new front in the international effort to restrict terrorist financing and money laundering.
While other channels of money laundering are successfully being shut down, authorities are increasingly worried about a proliferation of “digital precious metals operators” websites that offer clients a chance to conduct Internet business in units backed by gold and silver rather than paper currencies.
Well, at least they admit it. They’re worried about the public having the opportunity to conduct business using gold or silver. It is now official Canadian government policy that we should use only debaseable fiat money, backed by nothing more than the full faith and credit of the government (which is bankrupt by most logical standards). You can’t get much blunter than that, can you? Oh, and of course, it’s for our own protection!
There’s more on this at The Real Deal blog, along with some other interesting Gold and Banking Crisis articles.
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