Via Mat is the most reputable enterprise that ensures the storage of gold. It is used by the big bullion trading services such as BullionVault and GoldMoney, as well as mining companies. And when Via Mat makes a statement against a huge portion of its clientele, you know something major is going on. Not only something major, but something totally wrong.
In this case, it's the humongous regulations foisted on US citizens that make transacting with them inconvenient and annoying. The FATCA, or Foreign Account Tax Compliance Act, has been the US government's means of extracting revenue of Americans even from abroad. Looks like it's backfiring now, what with ViaMat issuing its letter discontinuing services for those "with US tax liability."
There will come a point when these US regulations will somewhat be eased, if only for the sake of adjusting to today's world. The fact is, the US government is becoming less responsive and wieldy, and is losing more and more money. There will come a point when its regulations could not even be implemented, which is a good thing for Americans who want to keep up with the goings-on of the market.
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