schiffgold.com / BY SCHIFFGOLD / JUNE 6, 2017
If government regulations are squeezing your business, and you want to avoid the risk inherent in the mainstream financial system, what do you do?
This is true even if your business is – shall we say – not completely above board.
In fact, Japanese organized crime is reportedly turning to gold as its traditional revenue streams are squeezed by stepped-up law enforcement. Deutsche Welle reports gold smuggling and theft have risen sharply, particularly in southern Japan.
Obviously, we don’t want to get involved in organized crime, but can we learn something from these Japanese gangsters?
Jake Adelstein is an expert on Japan’s underworld. He said the country’s organized crime groups, known as “yakuza” have found gold to be a lucrative income stream in recent years. The sudden surge in gold smuggling provides evidence of this trend. Japanese customs detected only eight attempts to smuggle gold into the country in in 2014. That number increased to 294 last year.
Gangs across the country are desperate for new sources of income after the police began a crackdown on their more traditional sources of income around five years ago. In years gone by, the ‘yakuza’ earned their living largely from extortion and protection rackets, but the new legislation has effectively eliminated those revenue streams. So they have been casting around for a new way of making a living, and the gangs that are dominant in southern Japan have clearly recognized the opportunities that lie in gold.”