[Drill Thrawl]

If they try to take your gold, just give them some lead instead.

[ronnie raygun]

There was much to be gained by gold confiscation in the 1930s because we were on a gold standard
It will not be taken for that reason it will be stolen for thier own use.

[onyx]

CIGA

[Silver Sabre]

I have found this website to be a very useful source of information on the economy, gold, and silver.

http://goldismoney.info/forums/

[JRandomFreeper]

When someone tells me that 'such and such just can't happen', I tend to grab my wallet and reach for my weapon, because here it comes.

/johnny

[djf]

If they had stayed on the gold standard in the 30’s, it would have soon become apparent that the FRN’s were being printed far faster than any new gold coin issues.

Thus, the FRN’s would have been in competition with gold - and the FRN’s would have become valueless compared to gold coin.

That’s why it was seized.

So they could print as many FRN’s as they wanted.

And that why the gold “window” was eventually slammed shut, because there was so much paper money out there, there wasn’t enough gold (at the government set price) at that time to back it.

Now, gold is no longer money, and the amount in private hands is a tiny, tiny, tiny fraction of the money “supply”.
There would be little for confiscation to accomplish, it would generate more ill will and anti-government sentiment than it would be worth.

[Carriage Hill]

I chose lead & brass over gold & silver.

“If you can’t protect it, you don’t own it.”

[SkyPilot]

I totally disagree.

So does this guy:

The economic collapse of America will trigger the confiscation of Gold and maybe silver. The US government is borrowing more than what they can produce economically and they are out of cash and have to borrow more money they do not have from China or other countries to support the war on terror, healthcare, and etc. The value of the dollar is dropping, but the only reason why the basic fundamentals of the dollar is not taking place is the economic chaos in Euro which is causing all the investors go to another safe haven with is the US treasury. What China and Russia and other East continents are doing is trading on another currency besides the dollar. China and Russia is trading oil with Gold and silver because China does not like the fact the value of the dollar is going down. China also wants to move away from the Dollar and is telling other countries like IMF, Global Banks, and other developing nations to get out of the dollar. The IMF already has a currency called the Special Drawing Right. This is the currency that other nations, especially China, are being pushed for a global currency. The currency for now is being pushed to be backed by a pool of world currencies such as Euro, Yen, Sterling, and dollar. But once the economic collapse of America called the dollar is no longer trusted they are going to try to back the SDR with Gold and Silver. Once this event takes a place a scenario of what will happen is that all the gold will be confiscated at a high gold price around a wide range of $2000 ~ 3000 per ounce. That will be a good enough reason for the government to confiscate it. The words that will be used by Obama is to help build America together, sharing the pain together, or we are all in this together motto. Once the gold has been confiscated the price of gold will shot up x5 to x10 fold because if the supply is reduced the demand (price) will go up. The gold will go to the Federal Reserve and they will back the new currency, probably SDR or something else before SDR) with the price of gold multiplied by x5 or x10. The American people will be trading their gold for an old currency, the dollar, and then after they give that worthless paper out the Feds will print the new currency with the backing of gold.

The fact that we are not on the gold standard, and the fact that gold, silver, and commodities will be the few assets with tangible, real value when the global currencies collapse (and they will) make gold confiscation an almost certainty.

If you have gold in a safe deposit box at a bank, the banks will simply refuse you access and then hand them over the government (who will gladly pay you pennies on ounce of the soon to be useless dollar).

The confiscation does not even have to be law! It simply has to be an "Executive Order" ordered by bath house Barry. FDR did the exact same thing, and he did so without Congress.

[Hoodat]

A government that can force you to purchase insurance is also a government that can confiscate gold.

[knarf]

Hmmphh ... stupid people are flocking to voluntarily trade it in for some shit called 'cash'.

Happened in the '70's, too.

Kiosks everywhere .. We Buy Gold, Silver, School Rings ... etc.

[SkyPilot]

Oh, and if you don't own physical gold, but own Exchange Traded Funds (ETFs), then you are also screwed.

Hint: if you don't own real gold, but own a piece of paper that says you are owed gold based on volume demand, then at the end of the day you will be left with a piece of paper.

[The Working Man]

If someone says, “It’ll never happen”, and it’s in the world of human control or manipulation, you can pretty much bank on the fact that IT WILL HAPPEN.

If only because humans by nature are contrary creatures, and some are very greedy and grasping at what others have

[muir_redwoods]

A man who has gold, silver and lead and the means to make best use of all three can deal with the threat of confiscation. A million fellows similarly situated can achieve a great deal more.

[null and void]

Jim,

Respectfully, it isn’t about revenue, it’s about control.

In much the same way they continue to raise taxes even though they full well know that on this side of the Laffer curve each increase in tax rates results in a drop in revenue and a net decrease in overall wealth, they will confiscate your gold knowing full well it will hurt you and injure the efforts for any new reserve currency that might reduce their power.

[Navy Patriot]

Jim uses poor analogies to make his point.

Technically the government didn't confiscate gold, they forced citizens to sell it to 'em at $20, waited a few years, changed the value by fiat, and sold to dealers at $35, then no longer enforced the legal prohibition and taxed the dealers on the markup income when the dealers resold the gold.

As gold is no longer a US currency standard, that can't be done now, it's just like any other private property, fair compensation must be paid and the government does not set the value of gold.

[drpix]

Gold was NOT confiscated because "gold in the 1930s was the only instruments of QE."

The "true fact{s}" of FDR's 1933 confiscation can be found in "The Bank Runs of the Early 1930s and FDR's Ban on Gold" (forbes.com) from which the following excerpt comes:

"In April 1933 FDR and his allies at the Fed and Treasury attributed widespread bank runs and failures to private “gold hoarding.” Using the “Trading With the Enemy Act” (1917) as a precedent – an act that gave the president wide latitude to restrict exchanges and seize assets during “emergencies” – FDR declared that private gold should be seized and given over to the Fed, in return for irredeemable Federal Reserve Notes, to stem an emergency in the banking system. This was sanctified in the Gold Reserve Act (January 1934), which required that any gold held contrary to U. S. law must be forfeited to the U. S. government. Key parts of the “Trading With the Enemy Act” pertaining to gold seizures persist in the U.S. Code even today."

Such bank run have recently occurred in Argentina, where citizens created the run to buy US dollars (rather than gold) and the government enacted draconian restrictions on buying and owning US dollars.

If such a bank run would occur today in the US it would not be to buy/own US dollars (since that is the currency the bank already holds it in) it would be to buy and own gold. Under such circumstance the ill founded assurances in this thread's article that 'gold would not be confiscated' should be no assurance at all.

[BenLurkin]

Ha!

[hosepipe]

Better bury some gold(silver) and few fire arms as well..
Better in large gauge PVC pipes.. because they be comin’...
They’re not ready for confiscation yet.. but its comin’..

Animal farm is almost here.. presently their only “MILKING”..
The slaughter houses have not begun yet..
They will not use the word “Soylent Green” they will use a different word..

The “Purges” are coming.. Stalin was the lefts Patron Saint..
Very much proof of tactics by Mao, Stalin and Hitler..
One World Givernment is a reachable dream of many Americans..

They are for making countrys mere STATEs or Provence’s..
Amazing how accurate John Birch was almost 100% correct..
Also amazing that many have never heard of John Birch...

[Attention Surplus Disorder]

[physical] "Confiscation is NOT going to occur, nor will the gold bullion or gold share profits be confiscated via punitive taxation. It serves no monetary purpose and just might injure the efforts for a new reserve currency that is sure to come."

This a multi-faceted statement and I don't think the issues nor risks are as pat as Sinclair states. To parse:

1: "Confiscation is NOT going to occur" OK, I can accept that. This does NOT rule out the possibility that as of xx/yy/zz, per executive order # 12345, all openings of bank safety deposit boxes must be supervised by a Federal Marshall.

tin? Have we seen enough tin over the past few years so that we should not be surprised at redefinitons of same?

2: "..nor will the gold bullion profits [be confiscated via punitive taxation].." I do not believe this can be predicted! In fact, if you think about it, gold could be seriously DE-monetized from its quasi-monetary function by imposing severe taxes on sales of gold. Suppose the government imposed a $1000 per ounce tax on the sale of bullion and threw in some gobbledygook about Eagles and/or pre-1933 gold coins as collectibles. Let's just think about bullion: Credit Suisse or Perth Mint or APMEX or JM or Englehard bars. What then? Anyone who had (what they believed was) their gold stash in those forms would be faced with a serious issue. Let's say they bought their gold over a range of $450. - $1350. and are right now thinking they are sitting fairly pretty.

To get anything near spot price out their gold, they would have to engage in a tax-evasion transaction. But who would buy such gold anywhere market price? They, too, would be subject to the same conundrum upon sale. In other words, gold would be forced into black market status and the spot value would not be obtainable since transactions in same would be not illegal per se, but strongly implying illegal.

3: "...nor will (GLD profits) be confiscated via punitive taxation." << I can believe that, GLD is just stupid stock.

4: "It serves no monetary purpose and just might injure the efforts for a new reserve currency that is sure to come.

4: Heh. Sez you. (And I greatly respect Jim Sinclair) but neither he nor anyone else can accurately predict the future. That something today serves or does not serve any monetary purpose means utterly nothing. After all, we are probably going to be jacking tax rates to raise revenues when all prior experiences show that lowering rates is the thing that raises tax revs. But see, we do this out of "fairness". So it is not a given that "making monetary sense" will be the prevailing rule of logic or law. Maybe we're going to be forced to "play fair", but it will be the 0bama's definition of "fair".

[SkyDancer]

Didn’t FDR do that at the beginning of the Depression?