FEMA and Seizing Precious Metals

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ewilkerson's picture
ewilkerson
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Posts: 390
FEMA and Seizing Precious Metals

I read somewhere that the government can seize your precious metals in an emergency.  Is this true?

Johnny Oxygen's picture
Johnny Oxygen
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Re: FEMA and Seizing Precious Metals

Yep. If you type 'Executive Order 6102' in the upper right hand corner of this page (next to the search button) you will find many threads about it.

This is a very good read on the subject.

http://emsnews2.wordpress.com/2009/02/04/1933-terrorizing-people-into-handing-over-gold/

 

Here is basic history of Executive Order 6102:

http://en.wikipedia.org/wiki/Executive_Order_6102

Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933 all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to $10,000 ($167,700 if adjusted for inflation as of 2010) or up to ten years in prison, or both. Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland.[citation needed]

Order 6102 specifically exempted "customary use in industry, profession or art"—a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins ($1,677 if adjusted for inflation as of 2010; a face value equivalent to 5 troy ounces (160 g) of Gold valued at about $6200 as of 2010).

The price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce ($587 in 2010 dollars). The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.

The regulations prescribed within Executive Order 6102 were modified by Executive Order 6111 of April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders 6260 and 6261 of August 28 and 29, 1933, respectively.[1]

ewilkerson's picture
ewilkerson
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Re: FEMA and Seizing Precious Metals

Thanks

Ken C's picture
Ken C
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Re: FEMA and Seizing Precious Metals

Except that gold ownership was again make legal by an act of congress in 1974 (effective 1975) so that FDR's executive order no longer applies. To confiscate gold now the law would have to be changed.

Ken

 

MarkM's picture
MarkM
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Re: FEMA and Seizing Precious Metals

The government will confiscate anything they want, whenever they want. To think otherwise is folly.

TNdancer's picture
TNdancer
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Re: FEMA and Seizing Precious Metals

The govt will take anything you let them have. 

 

Ken C's picture
Ken C
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Re: FEMA and Seizing Precious Metals
MarkM wrote:

The government will confiscate anything they want, whenever they want. To think otherwise is folly.

Well they might try. Being successful at it is another matter.

It might well prove to be WAY too expensive in many ways.

 

MarkM's picture
MarkM
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Re: FEMA and Seizing Precious Metals
Ken C wrote:
MarkM wrote:

The government will confiscate anything they want, whenever they want. To think otherwise is folly.

Well they might try. Being successful at it is another matter.

It might well prove to be WAY too expensive in many ways.

Ken, I keep hoping that the collective we will grow a set.

I often wonder at what point will a recognizable segment of the population will say, "Hey, now wait just a minute."

I don't think it would be gold confiscation if that were to happen right now. Not enough people hold physical gold to be affected. Those that do would probably be looked at as "elite" and deserving some come-uppance or painted by the media propaganda brush as "kooks" or "survivalists".

I will continue to hope that you are right.

TNdancer's picture
TNdancer
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Re: FEMA and Seizing Precious Metals

I keep hoping they pass the food bill, S510, intact.   Can't think of a better way to fire up folks than to tell them they can no longer grow their own garden.

Sure would be a hoot to see what happens to the FSA ( Food Safety Administration ) agent that shows up at grannie's house to take her tomatoes  Cool

agitating prop's picture
agitating prop
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Posts: 854
Re: FEMA and Seizing Precious Metals

Right now, the govt is engaged in stealth confiscation of wealth through inflation. At least, during the depression, they purchased gold with stable currency that had tremendous purchasing power. People who are in unhedged cash positions, worried about  "confiscation" while their dollars lose purchasing power are missing the big picture.

akamai mom's picture
akamai mom
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Re: FEMA and Seizing Precious Metals

TNdancer,

I actually am very upset about S510.  It has terrible consequences.  I agree with the concern about the possibility of seizing precious metals.

Saffron's picture
Saffron
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Re: FEMA and Seizing Precious Metals
akamai mom wrote:

TNdancer,

I actually am very upset about S510.  It has terrible consequences.  I agree with the concern about the possibility of seizing precious metals.

Akami mom, I think that is actually TN's point ... it's going to take some terrible consequences affecting *most* of us to get people to sit up and pay attention. And the sooner that happens, the better.

-s

TNdancer's picture
TNdancer
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Re: FEMA and Seizing Precious Metals

Exactly. 

Let's quit slow boiling the frog and bring things to a head.  It took TINY revenue act ( the Stamp Act ) to help spark the 1776 revolution.  Today, they pass laws that reach into your pocket for services you may or may not want ( Social 'Security' , health care, etc ), and may or may not EVER get the benefit thereof...all clearly unconstitutional....and nobody says much.

I WANT them to try to come seize home grown tomatoes....I WANT people to come to realize they are NOT FREE, but serfs living on rented land of the "kings" and subject to whatever whims they want. Heck, even the serfs didn't have 50% of the sweat of their labor taken by the king.....the king was smart enough to realize starving the serfs was the road to ruin for him, and settled for not killing the golden goose.

Today, we are following the failed path of communism....."from those with ability, to those with need".  The problem with that system is it denies human nature.  I simply will not work as hard for you as I will for me.  And if forced to do so, I will eventually quit plowing and join the rest of the crowd under the shade tree waiting on my hand out......and when enough folks quit plowing, the system collapses.....or is held together by gunpoint.  Even then, you simply get shoddy production and too little of it.

goes211's picture
goes211
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Joined: Aug 18 2008
Posts: 1114
Re: FEMA and Seizing Precious Metals
TNdancer wrote:

Exactly. 

Let's quit slow boiling the frog and bring things to a head.  It took TINY revenue act ( the Stamp Act ) to help spark the 1776 revolution.  Today, they pass laws that reach into your pocket for services you may or may not want ( Social 'Security' , health care, etc ), and may or may not EVER get the benefit thereof...all clearly unconstitutional....and nobody says much.

I WANT them to try to come seize home grown tomatoes....I WANT people to come to realize they are NOT FREE, but serfs living on rented land of the "kings" and subject to whatever whims they want. Heck, even the serfs didn't have 50% of the sweat of their labor taken by the king.....the king was smart enough to realize starving the serfs was the road to ruin for him, and settled for not killing the golden goose.

Today, we are following the failed path of communism....."from those with ability, to those with need".  The problem with that system is it denies human nature.  I simply will not work as hard for you as I will for me.  And if forced to do so, I will eventually quit plowing and join the rest of the crowd under the shade tree waiting on my hand out......and when enough folks quit plowing, the system collapses.....or is held together by gunpoint.  Even then, you simply get shoddy production and too little of it.

So true.  I remember going to Colonial Williamsburg and being surprised to learn that many slaves had paid jobs outside their normal hours.  Slaves could save the money they made on the side to try and buy their freedom.  Now, by taxing labor we have effectively all been made into slaves of the state without a way to buy our own freedom.  Kind of scary when you think about it.

Rojelio's picture
Rojelio
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Posts: 38
Re: FEMA and Seizing Precious Metals

If I understand  Executive order 6102 correctly, they didn't really confiscate people's gold but rather "nationalized" it urging people to sell it back to the goverment. Correct me if I'm wrong,but I don't think they went door to door with search and seizures and threw people in jail like you hear a lot of people talk about.There was maybe one big court case where the govt seized someone's bank vault.

Having said that, they could certainly pass an emergency ruling allowing them to confiscate people's gold and silver. People's homes for that matter. However the population is so heavily armed now that it would be difficult to accomplish.

By the way, was it CM that wrote a fascinating peice warning people about thinking that their oil stocks would get them rich. CM's argument was that the government would certainly seize control of the oil and try to manipulate prices and perhaps ration supply. Gerald Celente says he doesn't believe gold will go much above $2,000 per ounce even though it should because there will be federal intervention of some sort.

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