Gold Confiscation

alexros
By alexros on Mon, May 20, 2013 - 1:40am

What do you think about federal government confiscating gold from american citizens during a big economic turbulence in the future? There was such a precedent already. It happened exactly eighty year ago.

2 Comments

budwood's picture
budwood
Status: Member (Offline)
Joined: Dec 22 2011
Posts: 13
Gold confiscation

My opinion is that the people in the USA government will not try to confiscate gold.  First, such a move will probably get only token compliance and hence would be difficult to impllement. Then, by confiscating gold, those people would be on record as affirming that gold is an important monetary metal; they don't want to broadcast that fact.

alexros's picture
alexros
Status: Member (Offline)
Joined: Oct 9 2008
Posts: 5
Token Compliance

in their possible drive to enforce the confiscation the authorities would obviously not start with searching houses (unless they have a reliable tip that a large amount of gold is stored there). They would start with auditing all private vaults in the country along with bank safe deposit boxes. This would allow them to achieve maximim bang for the buck. In combination with relentless propaganda, severe penalties for non-compliance (like in the thirties) and reward for information these steps would allow them to create an effective enforcement regime.

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