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Why the Goverment Will NOT Confiscate Your Gold

Written by Gary North on November 14, 2011

People who buy gold worry because they think the government may confiscate their gold. There are reasons — a lot of reasons — to think that this fear is way overblown.

For one thing, gold has no monetary function in the modern economy, except for central banks. It is not 1933, when American used gold coins, and prices were low. Then, gold coin ownership was a threat to the government. Americans, alone in the world, could cause a run on the Treasury, demanding told coins. That threat to the government ended in March 1933. Roosevelt bought the gold at $20, and hiked the price in 1934 to $35. The government pocketed the difference.

I have written a long article on gold confiscation. If you own gold, you had better read it, remember it, and take heart from it.

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