Gold, the safe haven?

One would think that buying gold is a perfect way to escape the banking system and take care of the safety of your money. In most countries that is indeed a fact. But not in Belgium, over here buying and selling gold has gotten so complicated and controlled that it is just not interesting anymore.

• every buy and sale of gold coins and bars needs to be registered with your passport and the serial number of the bars or coins

• all transactions need to be settled through a bank account, no cash transactions are allowed, not even for the smallest coin

• gold bars by smaller melters, get a lower reputation and are bought and sold at substantially lower prices

• on jewellery and watches, 21 % value added tax is paid

This all put together makes buying or selling gold extremely uninteresting and gets you almost certainly a tax control

Belgium, land of the free…

Sincerely,

Pele23

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