Will the us government confiscate your gold?

Gloria Leffler asked a question: Will the us government confiscate your gold?
Asked By: Gloria Leffler
Date created: Mon, May 10, 2021 8:07 AM

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

👉 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.

👉 Can the government confiscate gold?

Under current federal law, gold bullion can be confiscated by the federal government in times of national crisis… The myth that specific types of gold coins are “not confiscateable” stems from the Executive Order that President Roosevelt issued in 1933 calling in gold.

👉 Will the government seize your gold?

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

10 other answers

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.

So confiscating or forcing people to sell their gold to the government wouldn't do anything to help liquidity or the dollar in the way it helped in 1933. In fact, such a confiscation would most likely only serve to hurt the U.S. dollar.

By an executive order (No. 6102 issued on April 5, 1933) invoking the anti-hoarding section of the unrelated Trading with the Enemy Act (1917), the US administration under President Franklin D. Roosevelt made ownership of gold illegal due to the “economic emergency” of the Great Depression.

They believe the US government might one day come and confiscate their gold. After all, hasn’t it happened before? Well, not exactly. It is true that President Franklin D. Roosevelt signed an executive order in 1933 that made owning gold illegal and threatened punishment of $10,000 or ten years in prison for hoarding the yellow metal. In effect, EO 6102 nationalized gold. But in practice ...

E.B. Tucker, director of Metalla Royalty and author of “Why Gold, Why Now” said that the government already has the tools to do this. “Everyone gets this idea that the [government] will raid your house and look for your gold.

If they refused, the government could hit them with stiff penalties: a $10,000 fine (equivalent to $205,000 today) and/or up to 10 years in prison. The government blatantly stole wealth from the American people. Many worry the U.S. government might confiscate gold again if it becomes desperate enough. I don’t think those fears are unfounded.

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.

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.

During extreme crises, governments can also seize people’s gold. There have been some stunning examples of “gold confiscation” in the past. Most memorably, this occurred in the US in 1933 during...

During the Great Depression, President Franklin Delano Roosevelt nationalized the gold holdings of U.S. citizens in 1933. He did not however “confiscate” gold. That is a common misconception. Instead, citizens were compensated for what they voluntarily turned over to the government.

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