The Daily Bail

A U.S. marine drinks the blood of a cobra during a jungle survival exercise with the Thai Navy as part of the "Cobra Gold 2013" joint military exercise. Photo Credit/Damir Sagolj

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World's Biggest Gold Storage Company Bans Accounts From U.S. Citizens

ViaMat, a Swiss logistics company that has been safeguarding precious metals since 1945, is literally the gold standard in secure storage. They have vaults from Switzerland to Hong Kong to Dubai, and they count among their clients some of the largest mining companies in the world. They know what they’re doing.

And now they’re dumping U.S. citizens. This is huge. I can’t possibly overstate the potential ramifications.

For one, the big gold depositories like Gold Money and Bullion Vault ALL use ViaMat as a primary secure storage provider. So it’s only a matter of time before ViaMat’s decision cascades across these other firms.

This matter-of-fact letter from ViaMat management explains their decision:

“We are currently experiencing rapid and substantial changes in the general regulations within this business. The changes mainly relate to the tax structures and taxation systems of various countries. As a consequence of these changes VIA MAT INTERNATIONAL has taken the decision to stop offering this service at its vault [sic] outside of the US to private customers with potential US-tax liability.”

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