Recurring rumors on gold

Recurring rumors on gold

Recurring rumors on gold

There are many audacious stories about investing in gold and silver and one that makes is recurring is the gold confiscation story. Those who hold 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

Individuals who espouse this story fail to understand that the world and investing in gold and silver was distinctly different then than now. Then U.S. dollar was backed by gold and the metal was in wide circulation. Today, the dollar is no longer backed by the precious metal and the precious metal is not widely held. It is interesting also despite the order to confiscate gold, the response was muted at best and many did not voluntarily hand over their gold. Confiscation was much easier than it is today due to the size of the population. Despite this, the government's confiscation efforts were meek if it can be called that.

Individuals who espouse this theory fail to realize that the world and investing in precious metals 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. Today, the dollar is no longer backed by the precious metal and gold is not in many private hands. It is interesting also even though the order to confiscate gold the response was alarming small at best and the majority did not voluntarily hand over their gold. Confiscation was easier than it is today as a result of the size of the population of the country. Regardless, the government's enforcement efforts were tamed if it can be called that.

Enforcement may not be feasible and the only gold that the government could potentially obtain would be that that is stored in safety deposit boxes in banks. However, that could also produce an outcry that would not be politically manageable.

You must realize that the government does not need to take your gold. They will confiscate your wealth through another invisible and more effective way. The method in which the government is taking your wealth is through the relentless printing of money. That will eventually make your currency worthless. Then why go through all the trouble of confiscation when there is an alternative mechanism that is more effective and enforcement is not necessary

Investing in gold and silver is the only way to protect you wealth from the consequences of currency devaluation. If you are one of those concerned about gold confiscation, then you should know that there other ways to invest in gold and silver that insulate you from that potentiality. We evaluate those mechanism at our website.

Hold the view that there are more important issues that require attention and the rumors about gold confiscation do not deserve attention. Nonetheless, one should always invest in the manner that is safest against all potentialities no matter how extreme they seem. Unfortunately, not protecting ones wealth is a call that few individuals are heeding.

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