Confiscation

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My guess is their real target is the 401K holdings of people. They will find a way to grab all the wealth put in these accounts since they have been pushed as the replacement over traditional retirement plans over the last 25 years.

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This is the easy one. Now that Wall St has taken their share the government is going to take theirs now. It's very easy at this point. All they need to do is raise taxes(which they have to do anyway) which means investors will pay much higher taxes on their retirement accounts unless they own ROTH accounts which are next on Sam's list. Bummer.
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I dont fear the goverment taking my PM. With that said if you cant touch,hold,stack your gold/silver in my opinon you dont own it! If the goverment really would need my PM i will give to them at about 900fps( hope they like 230gr hollow points?) LOL

 

I don't fear confiscation because if that ever becomes an issue, than that means the bull market in the metal being confiscated is almost over anyway because governments only issue blanket confiscation orders for things like that when the price is high relative to gdp and right now, relative to gdp, precious metals are priced very low, so it wouldn't be worth the government's time to try and confiscate it.

 

I don't fear this. If I was a tax non-filer or tax protestor I would. Even then, I think the IRS has to send you a warning letter. They used to just do a raid, then make you prove that the pms were yours.

That said, the IRS is still using SS#s to track transactions and grab $$ without sufficient probable cause. I haven't seen the statistics recently, but raids and seizures are still happening all across the country.

The other extreme, theoretically, is that of anarchy, when people will not take hyperinflated money, only "real" things like pms, services and other goods. I have a lot of trouble imagining how this would work with 1/10 oz gold eagles and silver rounds. You go to a gas station, give the owner a couple of silver rounds to fill up your tank. He gives you some pre-65 dimes or quarters as change.... People in the BosNyWash area generally have no idea what real money is, let alone have had much experience with barter.

 

I suspect a large percentage of PM trades, especially among individuals, happen off the books. These transactions don't involve SS #s.

 

401k confiscation is the new popular conspiracy theory. I would counter that it is far more likely that social security will be means tested and folks with unspent 401k balances may be excluded from the program. That will accelerate tax collections on the balances and extend the life of the social security program. Confiscating 401k's is far too politically risky.