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I just read the Rosen Report, and there is a paragraph about gold confiscation.

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There is a small paragrah about gold confiscation. It alludes to the possibility of countries passing laws to confiscate physical gold from individuals in order to enhance the national treasuries. Can this happen here? The US did outlaw private holdings of gold, then revised it, so I assume it can be revised again.

 

 

 

TRUTH

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Gold is just a commodity now, there's really nothing special about it anymore.

 

You might as well worry about the Government confiscating silver or diamonds or oil.

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Gold is just a commodity now, there's really nothing special about it anymore.

 

You might as well worry about the Government confiscating silver or diamonds or oil.

 

 

Well, that has entered my mind. But I keep my oil well hidden. thumbsup2.gif

 

 

 

TRUTH

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Gold is just a commodity now, there's really nothing special about it anymore.

 

You might as well worry about the Government confiscating silver or diamonds or oil.

 

I don't think this is entirely true. Governments all over the world try to maintain a base holding of gold - something like 15-20% of their current currency wealth (I don't recall the exact ratio of what to what). Anyhow, I think that if the U.S. government deems it in the best interest of control to recall gold, then they will. I can imagine a number of scenarios that this might happen in. Perhaps I'm paranoid, but I do not put this past the intrusiveness of this government. Just my opinion. tongue.gif

 

China is quite busy, from what I understand, trying to build their reserve of gold for their country. I think that it provides an example of the ongoing importance of gold for the basis of strong trade and economic stability.

 

Hoot

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Hoot,

 

Gold really is just a commodity now.

 

Although central banks around the world maintain stocks of gold, they can't make money out of it (i.e., they can't just coin it into money like they could pre-1933), it doesn't yield interest, they have to pay to store it and the only way to monetize it is to sell it for paper money or other, more useful, commodities at the current market price. (That's why European central banks - even the Swiss - were selling gold only four or so years ago.)

 

Frankly, I think you'd really have to stretch to come up with even a remotely plausable scenario that calls for the confiscation of gold.

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Rosen tends to cater to goldbugs sometimes in his letter--I actually think it more likely for some governments to dump their gold if the price skyrockets. The amount the US holds is so low a percentage of US currency/bonded debt - for us it's a trival gain to conficate--- so politically not worth it.

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