Confiscation

All your questions about physical and paper gold
Post Reply
User avatar
Rasta
Gold Member
Posts: 1421
Joined: 07 Oct 2011, 15:16

Confiscation

Post by Rasta » 05 Nov 2011, 13:15

A frequent upcoming question: do we have to worry about confiscation.

To start with the answer: perhaps, but not likely.

Confiscation in the US in 1933 (Executive Order 6102) was not intended to collect wealth. It was intended to outlaw gold, to take it out of circulation, and to make sure it could not be used as money. All this to being able to devalue the only remaining legal form of money - the paper Dollar. Note that the amount of gold collected due to Order 6102 was insignificant.

Today, gold is no form of legal tender, anywhere around the world. So making gold illegal in order to devalue the fiat money, is not required.

One could argue the opposite. If gold were to be declared illegal, then it is obvious that governments have something to hide, and it will drive people out of fiat and flock them to .... gold. Governments do want people to use and trust fiat, in order to surreptitious devalue the purchasing power of fiat money.

If governments wants to confiscate wealth from people, there are far more effective ways. Wealth that is properly administered in the ledgers, like pensions, real estate, etc, can be easily taken with force, without the possibility for people to make them disappear before it can be confiscated.

So in summary, confiscation of gold would not be practical, neither efficient for governments to transfer wealth from the private to the public sector. Having that said, even governments can rely to strange and obscure governing methods, when faced with self-termination.

If you are worried about confiscation by your own government, then it makes sense to store your wealth out of legal reach of your government. There are still a few countries in the world that honor property rights. By doing so, handling completely legal following the law, you are protected against governments taking your wealth without your consent.
Eventually there will be an awakening, a balancing of the scales and a bill to be paid, and for that I hold gold - Jim Sinclair


bailouts4ever
Bronze Member
Posts: 127
Joined: 08 Oct 2011, 15:36

Re: Confiscation

Post by bailouts4ever » 06 Nov 2011, 10:55

In my view Rasta is right here.

Confiscation is hardly possible already from a practical standpoint. Unless you have a police officer or soldier behind every tree than with a metal detector, raiding houses, gardens, forests, parks etc - it does not make sense to take that effort.

Banning though would be a different play. As Sweden has already taken got steps towards a "cashless society"; politics could strive for a "goldless society" all in the view of money laundering, terrorism and other evils from outside...

However, just as downloads, drugs, alcohol, smoking many things are "banned" but are generally accepted by society...thus don't be scared!
0.00 € is what your account statement will show on a long enough timeline.

User avatar
Spruitje
Freegold Member
Posts: 2425
Joined: 19 Oct 2011, 01:34

Re: Confiscation

Post by Spruitje » 09 Nov 2011, 01:10

Gold and silver confiscation in France (°1720)
Nice and funny article, even in the 18the century they were inventive to avoid confiscation.
Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while others are wishing.
- William Arthur Ward -

User avatar
Spruitje
Freegold Member
Posts: 2425
Joined: 19 Oct 2011, 01:34

Re: Confiscation

Post by Spruitje » 14 Nov 2011, 21:01

Jean Marie Eveillard about punishment(taxes) for holders of gold or possible confiscation.

I think its hard for governments to prove that someone is still having gold in his/her hands.

http://kingworldnews.com/kingworldnews/ ... appen.html
Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while others are wishing.
- William Arthur Ward -

User avatar
d2thdr
Posts: 13
Joined: 16 Oct 2011, 12:19

Re: Confiscation

Post by d2thdr » 21 Nov 2011, 22:50

Also when they confiscated gold in 1933, it was legal tender. So the gold did not belong to the people. Now gold is just wealth. I doubt they can confiscate wealth other than by stealth.

mcduff
Posts: 36
Joined: 19 Oct 2011, 18:47

Re: Confiscation

Post by mcduff » 22 Nov 2011, 20:43

d2thdr wrote:Also when they confiscated gold in 1933, it was legal tender. So the gold did not belong to the people. Now gold is just wealth. I doubt they can confiscate wealth other than by stealth.
There are other ways. One way I think very much possible is by "social banning/exclusion" of gold holders or in their words "hoarders". I saw an article on hartgeld.com earlier in German which used this more fitting phrase: "Soziale Ausgrenzung".

Article in German (warning PDF):
http://www.hartgeld.com/filesadmin/pdf/ ... itzern.pdf

Reference to it from hartgeld.com:
http://www.hartgeld.com/Aus-Gold-und-Silber-Land.html

If enough pressure is put, some gold "hoarders" will give away and sell (part of) their gold.

User avatar
Rasta
Gold Member
Posts: 1421
Joined: 07 Oct 2011, 15:16

Re: Confiscation

Post by Rasta » 22 Nov 2011, 20:45

mcduff wrote:If enough pressure is put, some gold "hoarders" will give away and sell (part of) their gold.
Good that most are in paper anyway :lol:
Eventually there will be an awakening, a balancing of the scales and a bill to be paid, and for that I hold gold - Jim Sinclair

User avatar
Rasta
Gold Member
Posts: 1421
Joined: 07 Oct 2011, 15:16

Martin Armstrong

Post by Rasta » 22 Nov 2011, 20:55

Will Gold Be Confiscated?

Answering Your Questions

Image

I won't give away Martin's answer :x
Eventually there will be an awakening, a balancing of the scales and a bill to be paid, and for that I hold gold - Jim Sinclair

User avatar
Indiana Jones
Freegold Member
Posts: 4725
Joined: 05 Oct 2011, 16:00
Contact:

Re: Confiscation / no comment

Post by Indiana Jones » 22 Nov 2011, 21:17

And so castles made of sand milt into the see eventually
http://www.youtube.com/watch?v=ULsiXVkKINA
Everything that needs to be said has already been said.
But since no one was listening, everything must be said again.

User avatar
Rasta
Gold Member
Posts: 1421
Joined: 07 Oct 2011, 15:16

Re: Confiscation

Post by Rasta » 24 Nov 2011, 09:07

Eventually there will be an awakening, a balancing of the scales and a bill to be paid, and for that I hold gold - Jim Sinclair

Post Reply