Will the government seize your gold?

Jerel Balistreri asked a question: Will the government seize your gold?
Asked By: Jerel Balistreri
Date created: Tue, May 18, 2021 6:16 PM

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Those who are looking for an answer to the question «Will the government seize your gold?» often ask the following questions:

👉 Can the government seize your gold and silver?

From the past, we know that one tactic is to make it illegal for private citizens to own gold and silver. This happened in the U.S. in 1933. While modern writers like to remember this as the time the government confiscated private gold supplies, the reality was that precious metals were nationalized. It’s a small but important distinction.

👉 Will the us government confiscate your gold?

If you're not careful, your government can confiscate your gold. Moreover, it can probably do so without compensating you. The United States, British, Australian, and many more governments have all done this within the last 100 years. So the clear answer to can the government confiscate your gold is yes.

👉 Can the government confiscate your gold?

So the clear answer to can the government confiscate your gold is yes. The real question is how can you avoid it? Ironically, governments have a habit of confiscating gold just when it becomes most valuable, i.e. when fiat currencies trade down. As a real hedge against currency and economic collapse, gold can insulate you from severe economic downturns.

9 other answers

Government would or could outlaw and seize private gold holdings. As I said earlier this week, gold and productive gold companies are a great long term hedge against inflation. I’m careful to make the distinction between gold companies, and gold companies that are actually able to get gold out of the ground. Most junior gold companies do not

Knowing nationalization happened in the past, could modern governments take things one step further and come seize your gold and silver to make ends meet? An Issue of Obedience First and foremost, any attempt by the government to outlaw gold and silver or force precious metals owners to give up their holdings is going to meet a basic issue of obedience.

In other words, the government doesn’t need your gold. Nevertheless, many numismatic coin dealers and precious metals pundits use Roosevelt’s moves in 1933 to instill fear and bolster the sale of what they claim are “confiscation-free” products. In fact, there are numerous reasons to believe gold confiscation is highly unlikely.

If you're not careful, your government can confiscate your gold. Moreover, it can probably do so without compensating you. The United States, British, Australian, and many more governments have all done this within the last 100 years. So the clear answer to can the government confiscate your gold is yes.

Still, it's not impossible for the government to seize gold, or any other asset for that matter. Through eminent domain, the government has the power to take private property and convert it into public use, granted proper compensation is provided.

The law, part of the Banking Act in 1959, allowed gold seizures of private citizens if the Governor determined it was “expedient so to do, for the protection of the currency or of the public credit of the Commonwealth.” In other words, they made it legal to seize gold from private citizens and exchange it for paper currency.

Government will know how much you have, where to find it, etc. Your gold and silver is subject to government seizure and/or taxation should a crisis in the banking system take place. You have agreed to the “protections” and “efficiencies” of a regulated system, and it comes with a price: your gold and silver are no longer entirely yours.

Government can indeed seize your gold or limit the amount you can own, if it's in the country's interest. Do what others did in the past, hide it!

According to CBDT (Central Board Of Direct Taxes) instructions bearing No.1916 dated May 11, 1994, the Income tax department cannot seize gold jewellery and ornaments held upto 500 gms by a married lady, 250 gms by a single lady, and 100 gms by a male.

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