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Ben Davies: Cyprus -- Oh, the Irony!
7:24a HKT Tuesday, March 19, 2013
Dear Friend of GATA and Gold:
Hinde Capital CEO Ben Davies today analyzes the European Union's attempt to reverse bankruptcy procedures and standards in Cyprus, protecting bondholders rather than depositors.
Davies writes: "The EU bureaucrats and International Monetary Fund have unilaterally ripped up the legal framework for property rights. This is a truly worrying and frightening progression -- actually regression -- in economic freedom. ... Policymakers have resorted to draconian methods of expropriating private-sector assets (households, pension funds, and corporates) either by excessive explicit 'taxation' and/or stealth taxation administered by a policy of negative real rates to help reduce the fixed real burden of debts."
Davies adds that gold is not going down in currencies other than the main reserve currency, the U.S. dollar, which, he says, will be the last one to decline against gold.
His commentary is headlined "Cyprus -- Oh, the Irony!" at it's posted at the Hinde Capital Internet site here:
http://www.hindecapital.com/blog/cyprus-oh-the-irony/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
How to profit in the new year with silver --
and which stocks to buy now
Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.
Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.
To learn about this report, please visit:
http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp...
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GoldMoney Reduces Storage and Exchange Fees
From April 1 GoldMoney will be reducing by a third its storage fees on gold stored at all VIA MAT vaults to just 0.12 percent per year and halving the cost of storing silver with VIA MAT Switzerland to bring it in line with GoldMoney's silver storage fees at other vault locations: 0.49 percent per year as the standard fee and 0.39 percent per year for more than 50,000 ounces of silver. In addition, GoldMoney's minimum storage fee will be reduced to only 0.001 grams per month for gold, platinum, and palladium, and 0.001 ounces per month for silver. In April GoldMoney also will be simplifying and reducing its metal-to-metal exchange fees. For the full details of these significant fee reductions, please visit:
http://www.goldmoney.com/lower-fees-overview?gmrefcode=gata
