They wouldn't need to track it, they would just make an unenforceable mandate and a good many would turn their bullion in. I don't see any reason why they would, so any opinion most likely has little relevance.
"The Uebersee Finanz-Korporation, a Swiss banking company, had $1,250,000 in gold coins for business use. The Uebersee Finanz-Korporation entrusted the gold to an American firm for safekeeping. The Swiss were shocked to find that their gold was confiscated. The Swiss made appeals, but those appeals were denied. The Swiss were entitled to paper money – but not their gold. Of course, after the gold was seized, there was a 1934 overnight increase of the price of gold from $20.67 per ounce to $35 per ounce. The Swiss company lost 40% of their gold's value if they tried to buy the same amount of gold with the paper money they received in exchange for their confiscated gold" . . . exerpted from Executive Order 6102 at Wikipedia. While Wikipedia was once not regarded as the most credible of resources, many years of vetting the writings there have changed that.
Luckily they are so factionally paralysed they really cannot do much at all of any importance, although this does leave room for a ton of other stuff.
Well, the would never confiscate it as that would just require WAY too much effort. If they really wanted it, they would just make it illegal to own, sell, and buy. Not too much use for it, if you can't exchange it for FIAT, so most everyone would turn it in, The chances of the Government doing even that are very close to zero as the Government truly has very little interest in gold.
It happens every day in the futures market, only they don't actually take your metal. Just the value.
This was when "all" gold was confiscated / bought out from private citizens. The government fixed the price of gold exchanged at ~$20 in 1934 for any and all gold held within US borders and then once the gold was turned in - on that final day they re-valued it at $35 per ounce. This was called the Gold Reserve Act of 1934 and you can read about all of the details. It was not done against the swiss company - it was across all holders of gold in the US. Talk about price fixing, collusion and screwing of the American people... More "New Deal" bull pucky by Roosevelt along with useless government job creation and increased taxes to steal the wealth of individuals and pass it on to the government. This was a dramatic changing point in time towards the "nanny state" Long Live Big Government - the solution to all our problems.
Unfortunately, big business under free market capitalism is so corrupt, you need a big government to rein them in/keep them honest. Look at what happened in 1929 and 2000 to 2008. Wasn't if Jefferson who said a function of government was to protect citizens from big business? Sure would be nice if all did what was good for all, so that government wasn't needed, but that will never happen.
Because in 1934, Gold was much more fiscally relevant. Today, it is really nothing more than a holdover from days gone by. The US Government, has very little interest in Gold and the chances of going back to the Gold Standard are near zero.
The people who hold physical gold today would not be that gullible. They simply would not comply, especially individuals. Or maybe give up the smallest portion possible and hide the rest. (Like coin dealers) Do you realize the improbability of this ever happening? There are so many dissidents in the U.S. and the world, it could never be enforced. Why are you so worried?
Taunting the government is only going to put you on the "preferred" list at some point. I have said for the last 20 years that the government has enacted enough laws to act with total impunity. No accountability, no reprimand, no consequences. They are now above the law. The voters no longer have enough power to control what is happening at the federal level. As a citizen you have one choice at the federal level every for years. "Red Pill or Blue Pill." The rest is handled by a myriad of smoke and mirrors with deals cut by privateers using government as their strong-arm of faceless security and control. And if you question this - they have controls in place to assure you can't prove it. I cite the IRS fiasco as another example. Obfuscation, distraction, and of course the funny/fancy names they give things to distract you from understanding the fundamental concepts of the issue. (i.e. attach "gate" to every crisis - or "quantitative easing").
Yes they do, the voters just don't excercise that power. Folks continuously vote in the same people that have hosed them for years but don't see it. Only 60% of the pop votes in Presidential elections, and far fewer in other years. The power is there, but you need to make the effort.
Howdy, Good replies all. Yes, the gov't can do WTF they wish, but as pointed out, I cannot see any real probability of them trying to confiscate gold. - Washington is too divided right now - There is no real reason in todays economy - It would be bloody impossible to enforce a confiscation A more likely scenario would be seek redemption of everyone's gold and make it hard to trade and sell to anyone besides Uncle Sam. Please note that post 9/11 all transactions of $10K or more are recorded. and so it goes, peace, rono
