Friday , 29 March 2024

Your Gold & Silver Will NEVER Be "Confiscated"! Here’s Why (+2K Views)

People ask me on a consistent basis if I think the government will confiscate their gold and silver coins if times get rough. I feel there is little chance of this happening, and here’s why. Words: 390

So says Greg Hunter (www.USAWatchdog.com) in edited excerpts from his original article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

Hunter goes on to say, in part:

[As I said in the opening paragraph,] I feel there is little chance of the government confiscating your gold – and here’s why:

1. Gold and silver coins are predominantly held by the wealthy (especially gold) and the wealthy are not going to allow the government they support with campaign money to take their gold. It is just not going to happen.

Think about it, poor and moderate income people (and that is at least half the population) do not have a significant holding of gold or silver. Most of the rest of the population have the bulk of their wealth tied up in 401-K’s or IRA’s. This may come as a surprise, but most rich people do not have 401-K’s or IRA’s. They have stocks and bonds, but the rich also have the money and smarts to diversify their portfolios…

2. State governments are legalizing the use of gold and silver coins as money. South Carolina and Utah [have already] approved such legislation and at least 12 other states are proposing the same thing…There is also a federal legislation in Congress to allow gold and silver to be used as money…The trend is moving towards gold and silver coming back into the monetary system, not outlawing it.

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That being said, however, I think there is a distinct possibility that the government would:

  • nationalize gold or silver mines in the continental U.S. or Alaska and
  • confiscate foreign gold holdings on deposit at the New York Federal Reserve bank…

Conclusion

[As I see it] the U.S. government might ‘pick’ the low hanging fruit but I think confiscation of gold and silver coins are unlikely.

Chris Duane of TheGreatestTruthNeverTold.com thinks the same way I do. Duane lays out a very compelling case for not confiscating gold and silver (especially silver) in this video.

*http://usawatchdog.com/confiscation-of-gold-and-silver-coins-will-not-happen/  (To access the article please copy the URL and paste it into your browser.)

Editor’s Note: The above article has been has edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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