Gold confiscation truth or myth?

Gold confiscation truth or myth?

Gold confiscation truth or myth?

There are many fallacious stories about investing in gold and silver and one that makes is recurring is the gold confiscation story. Those who espouse this theory point out to history to base their argument pointing and refer to when in 1933 in the crisis of great depression. President Roosevelt ordered to confiscate private gold from the private citizens

Those who hold this story fail to understand that the world and investing in precious metals was distinctly different at that time than it is now. Then U.S. dollar was backed by gold and the metal was in wide circulation. Now the dollar is no longer backed by gold and many do not hold the precious metal. It is interesting also despite the order to confiscate gold, the response was muted at best and many did not voluntarily comply. Enforcement was easier than it is today due to the size of the population. Regardless, the government's confiscation efforts were tamed if it can be called that.

Those who espouse this theory do not understand that the world and investing in gold and silver was distinctly different at that time than it is now. Then U.S. dollar was exchangeable into gold and the metal was in wide circulation. Now the dollar is no longer exchangeable into gold and gold is not widely held. It is interesting also despite the order to confiscate gold the response was alarming small at best and the majority did not voluntarily hand over their gold. Enforcement was easier than it is now as a result of the size of the population of the country. Despite this, the government's confiscation efforts were tamed if it can be called that.

Enforcement may not be feasible and the only gold that the government could possibly obtain would be that that is held in safety deposit boxes in banks. That itself would also bring out a backlash that would not be politically astute.

One should contemplate that the government need not confiscate your gold. They will take your wealth through another less visible and more effective way. The manner in which the government is confiscating your wealth is through the relentless printing of fiat currency. That will eventually make your currency worthless. So why go through all the problems of confiscation when there is another mechanism that is just as effective and needs no enforcement.

Investing in gold and silver will be only way to protect you wealth from the ravages of excessive money printing. If you are one of those concerned about gold confiscation, then you be aware that there other means to invest in gold and silver that insulate you from that threat. We discuss those mechanism at our website.

Hold the view that there are more pressing issues that need attention and the stories concerning gold confiscation do not merit attention. Nonetheless, one should always invest in the way that is safest against all potentialities no matter how extreme they seem. Unfortunately, not safeguarding ones wealth is a call that few investors are paying attention to.

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