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Wednesday, November 16, 2011

National Bank of Ukraine Introduced a Program of Gold & Silver Coins

This development is remarkable, and a huge leap for individual liberties for the Ukrainian people. This event is gliding well below the radars of goldbugs, but is a near model for what Ron Paul envisions for the American people if elected. The NBU is providing a competitive exchange medium for fiat currencies - - rightfully believing that citizens will replace their saving of foreign fiats (dollars?) with un-taxed precious metals .

Let's hope our own CIA or surrogate troublemakers don't prod unrest by tormenting this young country. And to you Russia: Hands Off the Ukrainians!

Give your mind the cursory thought that other central banks will follow!
Posted by: Charleston Voice
  16 .11.2011

This Nov. 15 during an open meeting of the National Bank of Ukraine said Director   General Department of monetary regulation of the National Bank of Ukraine Viktor Nesterenko.
"The purpose of issuance of such coins is, first of all, raising the country's investment climate, development of precious metals market, as well as providing additional tools to save money investors", - said Victor Nesterenko.
According to him, this new banking product is a good alternative to savings in foreign currency and a reliable store of value because precious metals have real value. In developed market investment coins they play the role of one of the important tools of regulation of money circulation.
The speaker stressed that the price of investment coins are lower than the price of commemorative coins. This is due to lower costs in their manufacturing because of the large circulation, lower quality caulking and the simplified form of packaging.
"Transactions of the sale-purchase investment coins by international practice carried out at the price of precious metals (LME) with the addition of a small margin. Under the current practice of operations on sale of investment coins are not taxed on the value-added" - said in iktor Nesterenko.
Currently, the General Department of Regulation and monetary Banknote Mint worked out all issues related to the issue of investment coins. In this regard, prepared relevant regulations that will regulate the procedure for registration and operations of investment coins.
Recall that investment coins - coins made ​​of precious metals (gold, silver, platinum), the highest grades, which are tender on the territory of Ukraine and are issued regardless of the subject unlimited copies. The nominal value of investment coins is much lower than the cost of precious metal contained in coins, which makes it inappropriate to use them as a means of payment and making them the object of investment and tezavratsiyi.

source: NBU