I have been investing in gold proofs mostly and I'm interested in acquiring gold bullion over the coming years. However, with the dollar spiraling downward, how likely would it be that the gov't would recall all bullion from the general public? Of course, I'd never turn my gold in, but I'm just curious as to what other more informed folks think.
Since the government and Federal Reserve have gone to great lengths for decades to convince people that gold is not money and is nothing but a barbarous relic, it seems highly improbable. Even if they confiscated the gold, what would they do with it? If they back the dollar with gold it will eliminate the ability for government to deficit spend because the T-bond holders will expect gold backing. In the unlikely event they do recall the gold, it probably would be shortsighted to not turn it in. What will you do with it if it can never be sold or traded without risk of going to prison? Better to take the proceeds and buy something else as your inflation hedge.
Never happen. How could the govt. make people take out gold fillings. And they people with all gold teeth have guns or friends with guns to make sure no one takes them.
Ever hear of selling drugs or "black market"? I don't condone this but if such a thing were to happen people will find a way...... The best way to make something more valuable is to make it illegal.
http://www.dgcmagazine.com/ Page 2 - September's DGCmagazine. They could do it, would be very hard but it could be done. Mark
It would probably take a month to list and explain all the constitutional and technical defects in that hoax, not the least of which is purporting to define a federal crime without an act of Congress.
Yep, that's why it says "spoof, this is not real" on the bottom of the page. It's really just meant to get you thinking and discussing the possibility of that occurring again. Just like this original thread/post, "...but I'm just curious as to what other more informed folks think" A lot of people believe that the gold ETFs, with their massive bullion stores could at some time be a target for confiscation. I've often seen that discussion. So the guy like me with coins under my bed might not be the target, but the metric tons in the ETF vaults could be? Who knows, stranger things have happened I suppose. Thanks, Mark
In other words its your political viewpoint, which doesn't belong in this forum. Your posting was worded so as to give the impression that it was real, not a misdated April Fool!
I think someone would have to be pretty stupid to risk spending a good part of their life in prison to hang on to some gold coins rather than switch to something else that is legal to own. But that's just me.
The really nice thing about the government is, that if the do try and confiscate, they won't be very good at it. Here's a sampling of what they missed last time......... https://www.apmex.com/Category/507/Pre_1933_US_Gold.aspx
