As Central Banks Buy Gold, Confiscation Risks Are Rising for Investors

[SilverDuderMember]

http://www.infowars.com/as-central-banks-buy-gold-confiscation-risks-are-rising-for-investors/

A.M. Freyed

Infowars.com
May 30, 2012

Europe’s debtors must pawn their gold for Eurobond Redemption …
Southern Europe’s debtor states must pledge their gold reserves and
national treasure as collateral under a !2.3 trillion stabilisation plan
gaining momentum in Germany. – UK Telegraph (5/29/12)

It’s possible that the Basel Committee agrees to banks using gold as
Tier 1 Capital, which would create substantial demand for physical
bullion … Globally, central banks cannot afford to find themselves in
competition with their banks over gold. Just as citizens’ gold remains
vulnerable to the confiscation of gold, so commercial bank holdings of
gold would be equally vulnerable. – Bullion Vault (5/4/12)

[AGXIIKMember]

Silver Duder  You make a good point regarding gold confiscation. 

 the governments, including ours,  looking for ways to force registration of gold purchases,  pursue various means of discovery as to who has gold.  This might involve the soft tyranny of moral suasion, telling the people to bring their gold in because ‘it’s for the good of the country’  Turkey is trying that.  Taxing transactions can provide the authorities with information as who is buying gold. India tried that.  A note on the internet reported that some cities, Joplin to mention one, want to regulate, force or coerce (are they any different/) coin shops to take photos of the inventory in transactions and upload them to a ‘central’ data base.  Who might that be shared with? 

Since so few people own gold, managing the data base of gold owners would be relatively easy.  Anyone of a suspicious nature would be wise to regard the authorities and their manipulations of public opinion about gold ownership with considerable concern.  The attempt to regulate and thus open the doorway to confiscation is a very short and slippery slope.  FDR’s Excutive Order forcing confiscation of gold in 1934 is likely still on the books.    The nice thing about gold is that you can store 720 coins in their convenient ballistic tubes in one 50 cal ammo can.  That comes to over $1,000,000 in gold.

[HornDogMember]

Maybe.

I’d care if I hadn’t suffered that unfortunate boating accident last fall and lost most of mine.

[XizangMember]

Horny Dog –  The weather gets really mean out there on that lake, doesn’t it?   I lost all my precious metals and all my guns and ammo out there in the very same spot!   I had to swim to shore and hitchhike a ride home.  Oh well, S*** happens…

[SilverOneMember]

Bottom of the lakes appear to be a gold mine…literally!

[snowriderMember]

It seems confiscation of gold or silver would get quite messy. The PR could become a nightmare for the government. Unless they have found a way to extract the bullion out of homes in a very private manner, confiscation is highly unlikely.

[AGXIIKMember]

Back in the 1930′s people were much more trusting of the government and FDR was seen as a savior.  The internet of the period was the radio and FDR’s speeches were very compelling. Dissenting voices were unheard. 

  The people who trusted FDR on his reasoning for gold confiscation found that the FIAT they received was soon worth 40% less as FDR devalued the US dollar by creating a large price increase in gold.  Gold was marked to market and the dollar plunged in value.   Today the people who now own gold own it for very specific reasons, having a natural distrust of  the government and its aggressive currency debasement. 

 People who own gold are naturally suspicious of all things government.  Attached to every gold coin  is a a legally required warning that ownership of the coin can be hazardous to the government’s health.  Knowing that fact  means you are aware of the risk of confiscation. I would make a guess that sometime in the future a president will issue another executive order saying that possession of bullion is an act of financial ter…..ism.   That ammo can of gold will look better and better all the time

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