Post by memoryfault on Nov 11, 2021 17:05:28 GMT 8
After three months in the doldrums, gold has gone up over AUD $160 an ounce in a week. I have no idea specifically why, but something big seems to be afoot and imminent.
If you haven't done so already, I strongly suggest you open a GoldPass account immediately, and transfer some funds into it. Please remember the Cash Restrictions Bill 2019, which can be used to effectively outlaw cash, was passed by the House Of Representatives back in October 2019, with the full support of the Liberal, Labor, and National parties. In November 2019 it had both readings in the Senate without amendment and now only requires a vote, which would take less than half an hour if the major parties decide to sneak it through late one night.
Also, using their combined vote, the Liberal, Labor and National Parties blocked Senator Malcolm Roberts attempts to amend various banking regulations passed in 2017 and 2018, which effectively redefined people with money in savings accounts from "depositors" to "unsecured creditors". That means the bank can now seize your funds (bail in) if they feel they need the money more than you.
While there are no guarantees, a GoldPass account appears to be the simplest and easiest way to protect at least some funds for emergencies. It also has the added benefit that you can use it buy physical gold if you so wish. A Goldpass account also has the benefit that it appears the WA government is set to to introduce a gold-backed currency, and GoldPass seems to be the vehicle. This could be very handy if rampant inflation destroys the AUD, which now seems inevitable.