U.S. Gold Seizure Mechanism In Place

While I am not an expert regarding monetary policy, I do like money...

The effect of trading oil exclusively in US dollars also has a significant effect.

If countries suddenly decided to abandon the dollar in favor of a 'combination' based on everyone's currency, the dollar would quickly be in significant trouble. Oil in some ways has replaced PMs as a backing.

 

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A couple points- they don't have to go door to door. I don't expect them to, although nothing would surprise me. What they would do is simply make it illegal to sell or own, which would prevent it from being widely accepted, severely shrink the market for it, and ultimately destroy much of it's value. Anyone caught using it would be severely punished. So even if you ahev some, it won't be of much use.

They might raid IRAs, but probably not, and even if they do, that doesn't mean they won't attack gold. Gold is anonymous, private, and hard to track. It represents freedom. It is not conductive to a collectivist economy. Also, even if the total amount of wealth held in gold is much less than that held in the financial system, it's possible for some people to benefit greatly by holding it, which sends a bad message. They will take it more because they don't want you to have it than because they want it for themselves.

Personally, I think the price of gold will dramatically and permanently collapse within the next few decades due to new mining technology, and thus the government will have no motive to outlaw it. But if there is a great crisis before that happens, I wouldn't be the least bit surprised to see gold made illegal.

 

When it comes to national seizures, gold is chump change. All the world's gold won't even cover the national debt. A truely smart and ruthless guberment would hit corperate holdings, natural resources (oil fields), and nationalize just about everything. "After all those greedy rich guys had it coming......." Why mess with the little guy and his coins, after all, we need to convince him that this is for his good, and we're out to protect his interest.

 

it's paranoid blathering. no one but billionaires would have enough gold to make any dofference to a govt the size of the US