New Gold Regulations Confirmed Q&A

by | Mar 5, 2011 | Archives

We had many questions and comments this week, the first about new gold regulations.

#1: New regulations on buying gold.  Gold & Silver Warning – New Gold Confiscation Bill…

# 2: How to sell Ecuador real estate.

#3:  How much land is in a hectare.

#4: Warnings about pet chips.

#5: More pet travel contacts.

#6: Transferring money internationally.

#7: Ecuador massage update.

#1: New regulations on buying gold.  Gold & Silver Warning – New Gold Confiscation Bill…


See our Gold summary 2011…click here.

An American living in Australia wrote: Gary See this data below.  If true, this does not look good in a ‘free society’.

He sent an article entitled “Prepare to give up all private data on gold purchases over $100” that says:
a bill proposed in Washington State (House Bill 1716) seeks to capture the name date of birth, sex, height, weight, race and addresses and telephone number of the person whom the person with whom the transaction is made.

I checked with our long time friend and precious metals dealer Michael Checkan who wrote:

Hey Gary:  There appears to be some validity here. Although, this action may be a result of the rip-offs by companies buying “scrap” gold and other precious metals. FYI, ASI does not buy “scrap” although we do have a second hand dealer’s license.

Michael received his data from the Industry Affairs Director of the Industry Council of Tangible Assets who wrote:

Yes, there indeed is something to this.  There is a bill that would require more than normal ID info on people selling items to dealers.  (Remember that second hand dealer and pawnbroker laws exist all over the country, so the “shocking” aspect that your article refers to is a bit over the top as pawnbrokers have much stricter requirements and have for many years.)  However, from what I recall, this bill would also require than a dealer can ONLY pay via check for items he buys over $100.

Brett Hallock originally called this to my attention and I forwarded this to Kathleen and Dan at Pinnacle Rarities in Washington state on Feb. 9th.  You may wish to contact them for any further information. The bill aims to make it harder for crooks to sell jewelry.

My comments: This appears to be a bill in Washington State only aimed at reducing the sale of stolen goods.


Here is the ocean view from this house.


#2: How to sell Ecuador real estate. After seeing an advertisement for this beach view house for sale, a reader wrote:

Hi Gary: I own a 725 sq mt lot in Quito in Belisario, Quevedo area.  How do I go about  selling it? Before anything, do you need a power of attorney?  Can I have some escrow made so the buyer places the funds there, and then we  have the title  handed to them, knowing the funds are in place?

Do you have any idea of the price per sq mt. in that region?  We know you can build 6 story buildings now. It is close to the Ave America and Marianita de Jesus.  Somehow, we did not find any  listings for land in the web site ( we are retired, and are not good at navigating web sites.  Thanks.

I replied: Thanks for getting in touch about selling Ecuador real estate.  If you are not in Ecuador and have an attorney you trust,  give them a Power of Attorney to sell for you.  This avoids your having to journey to Ecuador… but you must be sure you trust the attorney!

You can get a list of attorneys we trust as an Ecuador Living subscriber. See details here.

When we sell land we have our attorney act as the escrow agent and hold our title to release only when funds are received.

Our Ecuador real estate advertising and multiple listing program is an effective way to develop real estate leads. The advertiser of the Crucita beach house wrote the day after the ad: “Gary I have been up since six am answering inquiries”!

Our Ecuador real estate ads may help you sell your Ecuador real estate since we have over  25,000 readers on our list and send an email every day.  We also help advertisers get high Google rankings.

For example we have had three advertisers selling Crucita beach property and on March 3, 2001 their ads ranked right at the top for phrases like “Crucita Beach House” and “Ecuador Beach View Houses.”  The ads at our two sites dominate the top rankings and have the #1, #2, #3, #4 and #5 rankings.


Here an even broader phrase.


We do not sell real estate or charge commissions but our readers have purchased millions of dollars of real estate in Galapagos, Mindo, the Coast, Cotacachi, Cuenca, Vilcabamba and Quito. Ecuador real estate ads sent to our readers can be effective.

Another advertiser wrote:  “Dear Gary, Wanted to thank you for all of your help in getting our property sold, it has been sold and wanted to THANK YOU and your people for all of your aid.
Regards, Patricia P. Boling San Pablo Lake Property”

You can see details and many examples of some sample Ecuador real estate advertisements here.


Urcuqui  Central Plaza.

#3: How Much Land is in a Hectare? Many readers ask about Jean Marie’s Butterlin’s first article introducing the great opportunity in Urcuqui showing lots of appx. 1/4 acre at $1,000 to $2000. They later read the update from Urcuqui’s Mayor where he mentioned providing land at $10,000 to $20,000 a hectare.

This led to many readers sending emails like this one:  Hi Gary, I just read your update on this property which was advertised as $1000 to $2000 per lot, now its $10,000 and $20,000.  What gives??????????????????????????????

My reply: What gives is that most US readers are not familiar with liters, meters nor hectares the standard measures in most of the world. A hectare is about 2.4 acres. And Merri and I just wish that we had indoctrinated ourselves on all of this when in high school!

If you work out the prices shown by the mayor (a hectare is 2.4 acres) that’s about 10 lots for $10,000 to $20,000. According to my math that makes each lot about $1,000 to $2,000… pretty close to what Jean Marie reported. This is an incredible bargain as some lots on Cotacachi now are $10,000 to $20,000 for just one lot.

Meet Urcuqui’s mayor on a Imbabura-Urcuqui real estate tour.  There has been such a demand that Jean Marie Butterlin who has helped developed this special opportunity for our readers has added two additional tours to his schedule.

See his Imbabura-Cotacachi schedule here.

#4: Warnings about Pet Chips. Gary, I love receiving your newsletters and have dreams of someday going to Ecuador.  I could not be gone too long without my best friend “Bobby”.

I read with interest your article about traveling with a pet and about putting a chip in your dog in case he is lost.  I debated this issue for weeks but decided against it because the chip can cause cancer, just as the use of cell phones cause brain cancer in humans.  I know you live a healthy life and I am sure you feel the same about your beloved pet, so you might want to research this subject.  Thanks for all you do to brighten my day.

My reply:
I could not agree more and would never use one myself nor do I recommend their use. Nor do I use a cell phone except on really rare occasions. But Ecuador requires this for some animals so readers need to know.  It is one of the worst regulations I have ever seen as I am told that they have no way to track them in Ecuador.  Fortunately it only applies to a few species of dogs that are considered aggressive… such as Dobermans and Pit Bulls (please owners of Dobermans and Pit Bulls do not shoot your rockets at me, I am merely the messenger).  We are trying to get a clearer picture of exactly which species are included. When new regulations like this are imposed, there is often considerable confusion.  Even without new regulations, there is confusion at times.  See more on this below.

#5: Herding Cats in Ecuador. Another reader wrote:  Today I move to Ecuador….with four cats.  It has been a nailbiting experience, but we are on our way.  I had contacted pet relocation services that assured me they could handle the move, leaving me stress free to handle all other aspects of relocating.  Not so.  When they discovered the myriad of regulations, many imposed by the airlines they backed away from their prior statements.  I finally contacted a good pet carrier service.  Piece by piece he has unraveled the obstacles of shipping pets to Ecuador, and is in fact traveling to the country this week to meet with agents and officials to streamline this procedure for pet owners moving to Ecuador.  I will be happy to share the final chapter of our move when I arrive in Manta later this week.  Three of my cats started their journey last evening, the other is traveling with me.  And so the adventure begins.

The pet carrier wrote: Good Morning Gary.  I just read the email to you and thought it would be a good time to introduce and tell you that I will be in country starting tonight with the cats through Friday evening when I return to the USA.  In the next three days I will be meeting with three US Airline officials as well as some importers and perhaps the number two Agricultural person if I can get an appointment.  Would your schedule permit a meeting to further explore  how we might assist your clients moving to Ecuador?  I can be available anytime at your convenience.  If you can meet, please email  your phone and schedule.  Regards,

My comments.  I have added this pet carrier to our updated Ecuador Pet Regulation Report… plus included contacts with an Ecuadorian customs broker who has helped readers bring in their pets.  Sorry we can email about this, but right now we are not in Ecuador…came back last week.

You can get this password protected report FREE here as an Ecuador Living subscriber.

Learn how to get an Ecuador Living password here.

Non subscribers can order the Ecuador Pet Regulation Report here for $20.

#6: Transferring money internationally.

A reader, after reading last week’s note about the difficulties an American with money in Canada had getting it to Ecuador shared this comment:   Gary,  Thank you for this forum to read and get information. As  Canadians we have wired money to Ecuador 4 times for the purchase of two pieces of property.  The latest transfer was last September so I just called my bank (Royal Bank of Canada) and they have no restrictions against sending money to Ecuador, in fact said they could not believe that any Canadian Bank would. However Western Canada Bank is a very small banking entity and so that  may be the problem.  I would also imagine that depositing in another country and then transfering the money out to yet another might be grounds for nervousness.

My comments: I agree and believe that the previous reader, an American who transferred money to Ecuador to Canada first, shot himself in the foot.
An American reader who lives in Cuenca shared this:
Dear Gary…amazing description of the Cofan Amazon spa treatment…you are absolutely right about massage and I should enjoy one more frequently!  There is a brand new Spa/Gym built at the foot of the subida de Turi off the Autopista in Cuenca called Body Care Spa and I haven’t had a treatment yet, but I sent Manuel for a therapeutic massage $30 because of pain in his shoulder.  There is a beauty salon by Nancy Vega, next door and I had a $4 manicure.  On the top (3rd floor) of the building, they added a restaurant called Fogo that has an amazing view of the town of Cuenca…and serves salads, burgers and parrillada and promotes ladies nights on Wed & Thur from 9-11pm (closing time) for $9.99 all you can drink martinis, daquiries, or margaritas.  Their appetizer menu features chicken fingers, buffalo wings, nachos and offers juices, sodas, & cappucinos.  It really is a welcome edition to Turi (fogo means fire in Portuguese).  The balcony of Cuenca, Turi offers the most breathtaking view of the city at the mirador in front of the Church.  LAN airlines did a nice “renovation” of the amphitheater and look out point in front of the church, where Manuel & I were married 15 years ago!  Also next door is a fabulous new restaurant dinner show called Likapaay (indigenous meaning “to look down”) that has a spectacular cultural aspect of art, dance, music and gastronomy.  For $35 per person, you get a six-course gourmet typical dinner, a welcome canelazo drink and a cocktail during dinner with a folkloric dance show.  We just celebrated our anniversary dinner party there last February 12th  with family and padrinos, about 30 of us.  It was amazing… I felt like Cinderella at the Ball with the beautiful lights of the city in the background.  Many blessing to you and Merri.

Wrap Up.  A reader commented on last week’s Micro Business Evolution article: This is a very Great article, Gary !   Having had my careers as a military officer, a government official with national and international responsibilities, then turning around failing companies in the private sector, I now am living my dream – reflecting much of what you describe in the article.  Every day is a great day and I do what I want when I want.  I put in as many or more hours each day than I did in previous lives; but I feel that it is just fun time.

Wishing you continued health, happiness and great spirit.