Israel Considers Limiting Ownership of Gold and Silver and eliminating Large Notes

[Martin Everson]

https://www.moneymetals.com/news/20...arge-denomination-notes-in-war-on-cash-003491
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According to YNet, this would be the first step in a more comprehensive plan. In the medium term, officials hope for “a drastic reduction” in cash use with the ultimate goal of completely eliminating cash transactions. All transactions in the country would be made via credit/debit cards or bank transfers.

The plan would also ban private individuals and companies from holding “large amounts” of “cash alternatives,” including gold and silver.

In effect, Netanyahu hopes to ban all physical money and push society to electronic transactions.

The plan would reportedly roll out quickly, allowing a very short amount of time to change out 200-shekel notes. According to YNet, “This is expected to hinder criminal organizations from disposing of millions of notes.”

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I guess they will be including crypto when they say "cash alternatives". It is very worrying as other governments strapped for tax revenue might see this as a potential playbook. If this goes ahead just imagine police kicking your door in at 5am looking for large amount of gold coins or your ledger Nano etc.

P.S Hopefully they don't start distributing compromised Ledger hardware locally .

 

[uplana]

I guess they will be including crypto when they say "cash alternatives". It is very worrying as other governments strapped for tax revenue might see this as a potential playbook. If this goes ahead just imagine police kicking your door in at 5am looking for large amount of gold coins or your ledger Nano etc.

I hope it never comes to that, but with the developments happening just in recent years, such a thought isn't far from reality.

 

[polonieth]

Interesting. The Israeli economy is completely screwed right now, it's on life support. I suppose while the USA bankrolls them, it's not such a visible issue.

 

[wellington]

It’s like a DDOS attack against the west - just need Taiwan to flare up and then it all goes out with a whimper

 

[wellington]

I.e the Weakness of the UK is glaring -> giving a overseas territory to a country that never owned it which in itself was created and seeded by Netherlands, transferred to France and then the UK then given independence - today a vassal to China…
The West is screeching capitulation

 

[wellington]

Gonna be a shame for all those stuck in there when they realize their pensions are leveraged 45-1 on the Gov side and there’s 26 claims for each share they have, the currency is worthless as there’s no resources or manufacturing and it’s built on financial markets built around currency flowing through their markets for commodities or equities or banking transfers and all that over night floods elsewhere.

Gonna be painful when their entire life savings won’t even pay their energy bills for a year and their remaining assets such as homes is pumped up by successive debasement.

It won’t be capital controls they need to worry about but travel controls

 

[polonieth]

I.e the Weakness of the UK is glaring -> giving a overseas territory to a country that never owned it which in itself was created and seeded by Netherlands, transferred to France and then the UK then given independence - today a vassal to China…
The West is screeching capitulation

 

[Martin Everson]

How did we get here

I think it shows that in 2024 keeping precious metals in your resident country is too risky. There are spies, plants and snitches everywhere that can make the buying, hiding or trading process too costly if one intends to hide ownership from their government.

 

[wellington]

How did we get here

I think it shows that in 2024 keeping precious metals in your resident country is too risky. There are spies, plants and snitches everywhere that can make the buying, hiding or trading process too costly if one intends to hide ownership from their government.

Even if you go through vaulted, they normally only give you 90% of spot on sale and charge 120% of spot on purchase.

 

[Martin Everson]

Maybe they can make an exception for those owning gold jewellery. Nice loophole below could work

 

[Martin Everson]

Gold Ownership To Be CRIMINALIZED In Israel? | Rafi Farber​

 

[wellington]

Gold Ownership To Be CRIMINALIZED In Israel? | Rafi Farber​

End game didn’t end well for that nutter lol

 

[sebastian]

How did we get here

I think it shows that in 2024 keeping precious metals in your resident country is too risky. There are spies, plants and snitches everywhere that can make the buying, hiding or trading process too costly if one intends to hide ownership from their government.

in 2024 maybe impossible lucky for them who did this years ago already