Will Bolivia’s citizens soon be threatened with a gold ban?

A privilege of the state to purchase gold from within the country – this could soon become law in Bolivia. In the South American country, a draft law is currently being discussed, according to which domestic gold production must first be offered to the Bolivian central bank in the future – in return for tax breaks and at international prices. This is what the German business news reports. This should, among other things, take action against the illegal trade in gold bars. The paper is said to describe that domestic producers then need a permit such as a certificate in order to be allowed to sell gold abroad. Gold exports would then be allowed again when the bank had reached its annual purchase limit. This bill could, among other things, enable the Bolivian central bank to conduct overseas sales and take out gold-backed loans. Experts fear that a next step by the government could be the entire confiscation of the Bolivian gold reserves.

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